"23 November 2020" Archive

Customs Faceless Assessment Good Intensions – Strong Resistance

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 reform...

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Posted Under: Custom Duty |

Sunset Review Anti-Dumping investigation concerning imports of Yarn

Case No. SSR-06/2020 (23/11/2020)

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 orig...

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

No: DMU/2020/CR. 92/DisM-1 (23/11/2020)

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....

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9 deductions that people miss out while filing their ITR

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 [&he...

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Posted Under: Custom Duty |

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

F. No. IRDAI/Reg/3/169/2020 (23/11/2020)

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

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HC upheld GST Registration Cancellation on Failure of Appellant to pay Tax Installments

Magnamind Ventures (P) Ltd. Vs State of Kerala (Kerala High Court)

Kerala High Court cancelled the GST registration of the Appellant since they have not deposited the payment of Central Goods and Services Tax(CGST) and also the State Goods and Services Tax (SGST) from year 2017 onwards till the date of hearing....

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

Kirpa Ram (Deceased) Through Legal Representatives & Ors. Vs Surendra Deo Gaur & Ors. (Supreme Court of India)

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 […]...

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Section 80D Deduction in respect of health insurance premia

Deduction in respect of health insurance premia under Section 80D Analysis of Section 80D In case of an Individual (a) Deduction in respect of insurance premium paid for family: A deduction to the extent of ₹ 25,000 is allowed in respect of the following payments- (1) premium paid to effect or keep in force an insurance on […]...

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Posted Under: Custom Duty |

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

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...

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Posted Under: Custom Duty |

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

D.O.No.42/CH(IC)/2020 (23/11/2020)

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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