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Archive: 23 November 2020

Posts in 23 November 2020

Customs Faceless Assessment Good Intensions – Strong Resistance

November 23, 2020 11001 Views 1 comment Print

Trade Facilitation is a key enabler for simplification of procedures and reduction of barriers to the trade.  The major Objective of Trade Facilitation is to Reduce Time and Cost for the EXIM community and help them become more competitive in the International Arena. In line with this momentum, CBIC has implemented next generation reforms through […]

Sunset Review Anti-Dumping investigation concerning imports of Yarn

November 23, 2020 945 Views 0 comment Print

MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF TRADE REMEDIES) NOTIFICATION New Delhi, the 23rd November, 2020 FINAL FINDINGS Case No. SSR-06/2020 Subject : Sunset Review Anti-Dumping investigation concerning imports of All Fully Drawn or Fully Oriented Yarn/ Spin Drawn Yarn/ Flat Yarn of Polyester originating in or exported from China PR […]

Maharashtra directive on people traveling from Delhi, Rajasthan, Gujarat, Goa

November 23, 2020 981 Views 0 comment Print

All domestic passengers travelling from airports in NCR of DELHI, States of Rajasthan, Gujarat and Goa shall carry RT_PCR negative test report with them before boarding and show it to the teams at arrival airport. The Airports Authority of India is requested to check for the report before allowing the passengers to board the flight.

9 deductions that people miss out while filing their ITR

November 23, 2020 25470 Views 2 comments Print

Chapter VI A of the Income Tax Act, 1961 provides for various deductions that are available from the total income of an assessee while computing the taxable income. The assessees are normally aware of certain common deductions such as deduction u/s 80C in respect to contribution made towards LIC, provident fund, deduction u/s 80D for […]

IRDAI (Minimum Information Required for Investigation and Inspection) Regulations, 2020

November 23, 2020 4227 Views 0 comment Print

a. These Regulations may be called Insurance Regulatory and Development Authority of India (Minimum Information Required for Investigation and Inspection) Regulations, 2020.

HC not obliged to frame substantial question of law, if, it finds no error in findings of First Appellate Court

November 23, 2020 3645 Views 0 comment Print

Kirpa Ram (Deceased) Through Legal Representatives & Ors. Vs Surendra Deo Gaur & Ors. (Supreme Court) Sub-section (1) of Section 100 of the Code contemplates that an appeal shall lie to the High Court if it is satisfied that the case involves a substantial question of law. The substantial question of law is required to […]

Procedural Compliance is mandatory for AO when prescribed by CBDT

November 23, 2020 1260 Views 0 comment Print

It was held that the assessment order passed by the Assessing Officer disregarding the instructions of the CBDT are liable to the set aside as AO has not taken prior approval of the authorities mentioned.

Letter to FM on issues in GSTR 2A & GST 2B – ITC availment

November 23, 2020 6483 Views 2 comments Print

Respected Madam, My self- Rajesh Deshpande from Pune Maharashtra working as a Manager-Finance in Pharmaceutical Company name of SAVA HEALTHCARE LTD. We would like to bring your kind attention towards current system of ITC availement and issues creating regarding at the time of reconciliation. As you are fully aware that, GST2B is inserted on portal […]

Section 10AA Deduction eligible on Voluntary Transfer Pricing Adjustment by Assessee

November 23, 2020 2589 Views 0 comment Print

The issue under consideration is whether denial of claim of deduction u/s 10AA of the Act on transfer pricing adjustment made by the assessee voluntarily is justified in law?

Strong message to fraudsters involved in Fake GST Invoice: CBIC Chairman

November 23, 2020 1410 Views 0 comment Print

Lastly, sustained action on the ground by our officers during the past couple of weeks in addressing the GST fake-invoice menace has conveyed a strong message to the fraudsters involved in this modus operandi.

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