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Archive: 06 April 2021

Posts in 06 April 2021

SOP to implement ‘Break the Chain – Micro Containment Zones’ in Mumbai

April 6, 2021 7359 Views 0 comment Print

MUNICIPAL CORPORATION OF GREATER MUMBAI No MGC/A/6181, dated 5th April 2021. Sub : SOP for implementation of the “Break the Chain – Micro Containment Zones” Copy of my D.O. letter to Commissioner of Police, Mumbai may kindly be perused. To ensure compliances of Micro-Containment Zones, following SOPs shall be followed in letter and spirit :- […]

Court Sentences then DDIT & 2 Private Persons in a CBI Case

April 6, 2021 2148 Views 0 comment Print

The Special Judge for CBI cases, Delhi has sentenced S/Sh Ashutosh Verma then Deputy Director (Investigation) Income Tax, Delhi; Suresh Nanda (private person) and Bipin Shah (Chartered  Accountant), all to undergo one year Rigorous Imprisonment with fine of Rs. one lakh each in a CBI case.

Concept of Marine Insurance under Marine Insurance Act, 1963

April 6, 2021 92010 Views 1 comment Print

Explore the intricacies of Marine Insurance under the Marine Insurance Act, 1963. Uncover the coverage of ships, cargo, and terminals, distinguishing between Hull and Cargo Insurance. Delve into key clauses, such as Voyage and Time basis, governed by international regulations and INCOTERMS. Understand the significance of utmost good faith, insurable interest, and the role of warranties and conditions.

Form CSR- Instructions for Filling of e-form CSR

April 6, 2021 2520 Views 1 comment Print

Form CSR- INSTRUCTIONS FOR FILLING OF EFORM CSR (Form for voluntary reporting of Corporate Social Responsibility) Note: 1. Instructions are not provided for the fields which are self explanatory 2. If the space within any of the fields is not sufficient to provide all the information, then additional details can be provided as an optional […]

Certificate course does not grant any qualification ; ICAI

April 6, 2021 7518 Views 0 comment Print

It is clarified for information of the members that Forensic Accounting & Fraud Detection (FAFD) is a Certificate Course. On successful completion of this Course, a member is awarded a certificate to this effect. However, a certificate course does not grant any qualification, and therefore it should not be mentioned by the members as qualification along with their name.

SVLDR Scheme – Case of erroneous refund excluded even if SCN for same culminating in demand order

April 6, 2021 843 Views 0 comment Print

Saraswati Marble and Granite Industries Pvt. Ltd. Vs Union of India (Rajasthan High Court) Sabka Vishwas (LDR) Scheme – Case of erroneous refund excluded even if SCN for same culminating in demand order: Observing that as per Section 125(1)(d) of the Finance (No. 2) Act, 2019, a person who has been served with the notice […]

AO cannot treat LTCG as Bogus by treating a company as penny stock company without any evidence

April 6, 2021 4386 Views 0 comment Print

ITO Vs Shivani Gupta (ITAT Delhi) The A.O. in this case noted that assessee has sold the shares of Shilpi Cable Technologies Ltd., and claimed exempt under section 10(38) of the I.T. Act of the impugned amount. The A.O. merely declared this company to be penny stock company without bringing any evidence on record. Though […]

Orissa HC stays payment of IGST on Ocean Freight subject to SC decision

April 6, 2021 4170 Views 0 comment Print

In that view of the matter, it is clarified that while the question of the Petitioner being entitled to refund will await the final decision of the Supreme Court in the aforementioned SLPs, the Opposite Parties will not require the Petitioners before this Court hereafter to pay IGST on ocean freight until further orders.

Parboiling Rice & Drying plant classifiable under HSN 8419

April 6, 2021 5274 Views 0 comment Print

In re SKF Boilers And Driers (P) Ltd. (GST AAR Karnataka) 1. Whether parboiling and drier plant is part of rice milling machinery as specified in the Notification dated 28-06-2017 under HSN 8437 issued under the CGST Act, 2017 taxable at 5% (2.5% CGST + 2.5% SGST)? 2. If the above mentioned plant/machinery is not […]

Supply made by Cost Centers of ‘BEML’ is composite supply

April 6, 2021 1464 Views 0 comment Print

In re Bharat Earth Movers Limited (GST AAR Karnataka) Whether the supplies made by Cost Centres C,D, E and G are independent supplies of goods and services (as applicable) or composite supply with principal supply of goods? The supplies made by the applicant under Cost Centres C, D, E and G form a composite supply […]

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