"24 November 2020" Archive - Page 3

IRDAI (Insurance Surveyors & Loss Assessors) (Amendment) Regulations, 2020

F. No. IRDAI/Reg/4/170/2020. 24/11/2020

Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) (Amendment) Regulations, 2020 INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA NOTIFICATION Hyderabad, the 24th November, 2020 Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) (Amendment) ...

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Tariff Related Quota – Implementation in System

Public Notice No. 142/2020 24/11/2020

Kind reference is invited to CBIC’s notifications 28/2020 dated 23.06.2020 and 40/2020 dated 28.10.2020 where concessional rate for BCD has been notified for certain items provided that the quantity of total imports of such goods in a financial year do not exceed the tariff rate quota (TRQ) quantity as specified in the notifications...

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GST: Provisional attachment of Bank A/C & FD to protect interest of revenue was justified

R. J. Exim And Another Vs Principal Commissioner Central Goods And Service Tax And 3 Others (Allahabad High Court)

R. J. Exim And Another Vs Principal Commissioner Central Goods And Service Tax (Allahabad High Court) From the perusal of Section 74(5) of the Act, it is evident that a person chargeable with tax may, before service of notice under sub-section (1), pay the amount of tax and interest under Section 50 and penalty @ […]...

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HC set aside GST Refund cancellation order as FORM GST RFD-02 was not issued

SHCPLRJV Vs Assistant Commissioner (Andhra Pradesh High Court)

SHCPLRJV Vs ACCT (Andhra Pradesh High Court) Having regard to the fact that there is a default in compliance of Rule 90(1) read with para 2(d) of Circular No. 79, and since the acknowledgment in FORM GST RFD-02 was not issued within 15 days, the order under challenge is set aside and the matter is […]...

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HC permits common trial of 3 cases of not declaring foreign account

Paraminder Singh Kalra Vs CIT (Delhi High Court)

The genesis of trial of three petitions before the trial court is the complaint bearing CC No.511538/16 (Old CC No.131/2014), under Section 276-D of the Income Tax Act dated 28th February, 2015 and the other two complaints rest on the same. Whether the petitioner is holding a foreign account or not is a matter of trial in the first compla...

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Anticipatory Bail to management of ‘Milk Food’ in alleged Fake ITC availment case

Naval Kumar & 3 Others Vs CGST, Delhi East (Patiala House Court)

Naval Kumar Vs CGST (Patiala House Court) In this case , admittedly the total amount as liability of the of the applicants is yet to be adjudicated and assessed. Liability which has been raised by the department is the tentative where show cause notice is yet to be issued and adjudication is still due. Such […]...

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Release of module for issue of Appeal Number for departmental appeal filed in GST Form APL- 03 – Reg

Advisory No. 12/2020 24/11/2020

Functionality built for Issue of Appeal Number for Departmental appeal filed in form APL-03 is now available for use by officers of Appeal commissionerates....

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Rajasthan HC grants bail to person accused of wrongfully availing ITC under GST

Subhash Chandra Tyagi Vs Directorate General Of Goods And Service Tax (Rajasthan High Court)

Subhash Chandra Tyagi Vs Directorate General Of Goods And Service Tax (Rajasthan High Court) The present bail application has been filed under Section 439 Cr.P.C. The petitioner has been arrested in connection with Criminal Complaint No. DGGI /320/ Gr.I/ INV/ GST/ SCT/ 15/2019 registered at Chief Metropolitan Magistrate (Economic Offences...

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Cash Transaction Restrictions on Charitable Trusts under Income Tax

A charitable or religious institution has substantial source of receipts in form of donations. Such donations may be corpus or voluntary. The Income Tax Law provides blanket exemption to corpus contributions (received for a particular purpose such as for construction of a building) whereas it requires application of voluntary contribution...

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Posted Under: Corporate Law |

Cash Transactions in Agriculture Sector- Income Tax Provisions

In India, a large population is engaged in the agriculture sector and there are numerous transactions regarding sale and purchase of agriculture produce. The farmers sell their agriculture produce to Pacca Arahtias i.e. traders through kachha Arahtias. Kachha arahtia are commission agents and are only facilitators of auctions/sales of agr...

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Posted Under: Corporate Law |

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