"26 November 2020" Archive - Page 4

Existing drug import license to be valid till application for fresh one is pending

Notification No. S.O. 4244(E). 26/11/2020

Notwithstanding anything contained in rule 28 of the Drugs and Cosmetics Rules, 1945, for import of drugs for sale or distribution, if an existing valid import licence holder under the said rules, makes an application for a fresh import licence before the expiry of the existing licence, the existing import licence shall be valid until ord...

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Detailed Analysis of Section 194-IB

Section 194-IB is all about TDS applicability on rent income in the hand of Individual and HUF. Many people got confused between Section 194-I and Section 194-IB. Also many people are unaware about compliance part of this hence today I am writing this all inclusive article on Section 194-IB which will include everything from basic section...

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Posted Under: Corporate Law |

SEZ unit/developers ineligible to claim refund of ITC involved in supplies received from non-SEZ suppliers

The Hon’ble Appellate Authority, GST, Andhra Pradesh, in Re: Vaachi International Pvt. Ltd.  [Order No. 4990 of 2020 dated February 10, 2020] held that the SEZ unit/developers shall not claim any refund against input tax credit (ITC) involved in supplies received by them from non-SEZ suppliers and GST Law facilitates eligibility for re...

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Posted Under: Corporate Law |

SC: No Litigant can be penalized for non appearance of lawyer-Judicial Reforms/Policy needed

Parveen V. State of Haryana (Supreme Court)

Parveen V. State of Haryana (Supreme Court) The Apex Court in a in a recent decision has ruled that it the appeal/revision/writ of a litigant cannot be dismissed if the  lawyer of the litigant it is not present in the court due to any reason whatsoever. The Court ruled on 16th November 2020 in the […]...

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HC directs Designated Committee to consider Assessee SVLDR Scheme declaration as valid

Elaf Tours and Travels Vs Union of India (Bombay High Court)

While considering a declaration seeking amnesty under the scheme; the approach should be to ensure that the scheme was successful and therefore a liberal view embedded with the principles of natural justice was called for. Thus, rejection of the declaration of assessee by the Designated Committee was not justified. Accordingly, the conse...

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