"07 May 2021" Archive

SOP for claiming exemption from GST on imports for covid relief material

SOP for claiming exemption from GST on imports for covid relief material has been issued. Anyone who wants to claim such exemption may please contact any of the nodal officers below. Government of Haryana Excise and Taxation Department F NO: FTD-070001/47/2021-ADDL. ETC (GST)-ETD Dated 7Th May 2021 E-office No. 225547 Standard Operating P...

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Posted Under: Custom Duty |

Postal department helpline for speedy delivery of COVID material shipments

During recent 2nd wave of Covid 19 cases, Department of Posts, in collaboration with Customs authorities, has been facilitating clearance, processing and delivery of Covid related emergency shipments received through post from abroad e. g. oxygen concentrators, equipment, medicines etc. A public notice in this regard has been issued by D...

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Posted Under: Custom Duty |

Courts must be open not Faceless: SC

Chief Election Commissioner of India Vs M.R Vijayabhaskar & Ors. (Supreme Court of India)

Chief Election Commissioner of India Vs M.R Vijayabhaskar & Ors. (Supreme Court of India) Courts must be open both in the physical and metaphorical sense. Save and except for in-camera proceedings in an exceptional category of cases, such as cases involving child sexual abuse or matrimonial proceedings bearing on matters of marital pr...

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I-T Refund cannot be adjusted by more than 20% of Demand: HC

Vrinda Sharad Bal Vs ITO (Bombay High Court)

Vrinda Sharad Bal Vs ITO (Bombay High Court) The Bombay high court recently held that income tax (I-T) officers cannot adjust the refunds due to taxpayers against outstanding demands in excess of the limits laid down in instructions, circulars and guidelines issued by the Central Board of Direct Taxes (CBDT). he I-T returns for the [&hell...

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No additional fees on Company /LLP forms till 31.07.2021

No additional fees upto 31st July, 2021 on forms under Companies /LLP Act due for filing during 1st April, 2021 to 31st May, 2021 The Ministry of Corporate Affairs (‘MCA’) has received request from stakeholders for relaxation on levy of additional fees for filing of various forms under the Companies Act, 2013 /LLP Act, 2008/ […...

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Posted Under: Custom Duty |

Tax Deducted at Source (TDS) rates for FY 2021-22 (AY 2022-21)

TDS rates for FY 2021-22 (AY 2022-21) considering amendments made by Finance Act, 2021 are as follows: Tax Deducted at Source (TDS) Rates applicable from 1st April, 2021 Tax Deducted at Source (TDS) Rates applicable from 1st April, 2021 S. No Section Residential Status of Deductee #9 206AB applicable #11 Nature of Payment Monetary Limit [...

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Posted Under: Custom Duty |

Taxation for Doctors: A Gist

As a medical professional, you need to be aware of taxation rules and regulations that are relevant to you. Following them is important for not only paying your taxes correctly but also availing of the relevant benefits....

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Posted Under: Custom Duty |

Refund not deniable for delay in filing when vital documents seized by DRI

Kaamdaa Impex Vs Commissioner of Customs (Madras High Court)

Kaamdaa Impex Vs Commissioner of Customs (Madras High Court) Refund not deniable for delay in filing when vital documents seized by DRI: The Madras High Court has held that the application for refund of Special Additional Duty (SAD) cannot be rejected based on the limitation period as prescribed under the relevant notification when the vi...

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Company Law Section 185- Prohibition, Restriction Exemption & Penalty

Section 185 of the Companies Act, 2013 regulates the provisions relating to grant of loans to directors of the company. Article explains Prohibition on grant of loans to directors  under section Section 185 (1), Restriction under Section 185(2) on grant of loans to directors of the company, Exemption under Section 185(3) against on grant...

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Posted Under: Custom Duty |

Delhi HC accepts pleas for extension of due dates & Waiver of Penalty & Interest

Anil Kumar Goel & Ors. Vs Union of India (Delhi High Court)

Anil Kumar Goel & Ors. Vs Union of India (Delhi High Court) 1. As the taxpayers and professionals, along with whole country, continues to suffer and to reel under the COVID-19 pandemic, this Writ Petition prayed for directions to Respondents [UOI, CBIC, CBDT, Delhi Govt, GST Council] for extension of all the due dates of […]...

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