Directions are being issued to allow posting and collection of margin for permitted derivative contracts between a person resident in India and a person resident outside India.
Procedure for verification of exporters declaration (self certification basis) on the Rules of Origin under GSP Scheme under Chapter-2 of Handbook of Procedures, 2015-2020 inserted in para 2.104 of Handbook of Procedures, 2015-2020. MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) New Delhi, the 15th February, 2021 Public Notice No. […]
It is hereby informed that the matter regarding exclusion of employees of Regional Rural Banks from the purview of EPF & MP Act, 1952 has been examined at the Head Office and it is observed that RRBs got excluded from purview of EPF & MP Act, 1952 in the consequence of judgement dated 25.4.2018 of Hon’ble Supreme Court of India in SLP No. 39288
As a part of IT Revamp, this Directorate proposes to introduce new modules (online e-Certificate Management System) for processing of certain applications. From 22.02.2021 onwards, the following applications types are required to be submitted online through the importer/exporter’s dashboard on the DGFT Website –
Regular Books Of Accounts Maintained By Assessee Can Not Be Termed As Incriminating Material To Frame Assessment Under Section 153A , All Addition On Basis Of Such Material Is Therefore Invalid
Nike India Private Limited Vs ACIT (ITAT Bangalore) It is imperative on the part of the A.O. to show that there was failure on the part of the assessee to disclose fully and truly all material facts relating to the assessment. Admittedly, no such allegation has been made by the A.O. in the reasons for […]
Reserve Bank has announced setting up of an Expert Committee on UCBs to examine the issues and to provide a road map for strengthening the sector, leveraging on the recent amendments to Banking Regulation Act, 1949 (As Applicable to Cooperative Societies).
CIT Vs Quest Global Engineering Services Pvt. Ltd. (Karnataka High Court) Conclusion: Loss sustained by assessee due to fluctuation in foreign exchange while implementing export contract was incidental to assessee’s course of business, therefore, such a loss was not a speculative loss but a business loss. Held: Assessee had entered into forward contract with the bank […]
We had noticed that the Commissioner may authorize arrest of a person only if he has reasons to believe that such a person has committed any offence under the clauses mentioned therein.
Tariff Notification No. 16/2021-CUSTOMS (N.T.), Dated: 15.02.2021 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver – Reg. Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 16/2021-CUSTOMS (N.T.) New Delhi, 15th February, 2021 S.O.675(E).– In […]
