"27 October 2020" Archive

Interest payable only on Gross GST Liability even Prior to Section 50 Amendment

KLT Automotive and Tubular Products Ltd. Vs Union of India (Bombay High Court)

The issue under consideration is whether interest under section 50 of the Central Goods and Service Tax Act, 2017 is to be levied on the gross tax liability? HC are of the view that no live issue survives for adjudication in this case. Recovery notices issued by the respondents are hereby quashed....

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Govt. extends cut-off/payment date date under Vivad se Vishwas 

Notification No. 85/2020-Income Tax [S.O. 3847(E)] 27/10/2020

Govt. notifies December 31st as the cut-off date for filing declaration under the Vivad se Vishwas Act, 2020; Also, extends timeline from December 31st, 2020 to March 31st, 2021 for making payment without additional amount. MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 85/2020-Income Tax Dated: 27th October, 2020 ...

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Order of amendment of GST registration in Form GST REG-15

Amendment of some of the specified fields of GST registration requires the approval of the proper officer. On receipt of the amendment application in Form GST REG-14, and after due verification, if satisfied, the proper officer will issue an order amending the GST registration in Form GST REG-15. In nut-shell, Form GST REG-15 is an [&hell...

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ICAI denies false news of postponement of Examination

A fake announcement of 27.10.2020 is doing rounds on social media, making false assertion of postponement of ICAI Examination schedule. It is clarified that the examination schedule, as already announced, shall commence....

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Income Tax Department conducts searches in Delhi- NCR, Haryana, Punjab, Uttarakhand & Goa

The Income tax Department has carried out a search and seizure action on 26.10.2020 on a large network of individuals running the racket of entry operation and generation of huge cash through fake billing. The search operations have been conducted on 42 premises across Delhi- NCR, Haryana, Punjab, Uttarakhand and Goa....

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CBIC clarifies on Job work in bonded warehouses by Section 65 unit

Circular No. 48/2020-Customs 27/10/2020

Trade has sought clarity on the goods eligible to be sent for job work and the procedure to be followed for removal of goods for job work by a Section 65 unit....

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Anti-Dumping duty on Fluoroelastomers extended till 27.11.2020

Notification No. 33/2020-Customs (ADD) [G.S.R. 672(E)] 27/10/2020

Seeks to further amend notification No. 6/2019-Customs (ADD) dated 28th January, 2019 to extend the levy of Anti-Dumping duty on Fluoroelastomers (FKM) originating in or exported from China PR up to and inclusive of 27th November, 2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 33/2020-Customs (ADD) ...

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Procedure & Criteria for applications for export of Nitrile/NBR Gloves

Trade Notice No.: 31/2020-21 27/10/2020

2. The procedure to apply for the export license under this Quota is outlined below: I. Export of Nitrile/NBR Gloves as per the export quota fixed above will be allowed for the period of October and November, 2020....

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FSSAI Registration process for Dairy Units including Milk chilling units

What is FSSAI registration / License? FSSAI: Food Safety and Standards Authority of India is an autonomous body which works under the Ministry of Health & Family Welfare, GOI. FSSAI Registration or License is responsible for protecting and promoting public health through the regulation and supervision of food safety. FSSAI Registrati...

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GST implications on Goods Transport Agency

Goods transport agency is subject matter of complex taxation. First time taxability of Goods transport agency has been brought in service tax regime which brought a lot of hues and cues in the market as they are not habitual to collect and deposit the Indirect taxes....

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