Consequence of Non-Filing of Appeal in Respect of Cases Where Tax Effect is Less Than the Prescribed Monetary Limit. As you are aware that the Commissioner may, of he objects to any order passed by the Commissioner (Appeal) under Section 154 or Section 250, direct the Assessing Officer to appeal to the Tribunal against the […]
The Income Tax Department had rolled out a new Annual Information System (AIS), a comprehensive statement containing details of all the financial transactions undertaken during a financial year and are at present available with the Income Tax Department, even broader than Form 26AS. At present, Form 26AS is detailed by the Tax Department, which is […]
Communication basically refers to the exchange of thoughts or information. Communication allows us to share our thoughts with those around us. Thus, we learn to communicate in the early stages of life, because building life in a social environment makes life without communication very difficult. Communication can be done in several ways – through verbal […]
The officers of CGST Mumbai Central Commissionerate have smashed a racket of fake Input Tax Credit (ITC) generators, who had been passing this fake ITC to the tune of Rs. 35 crores to various entities. The officers have arrested the kingpin for generating and passing on this fake credit to more than 15 entities in […]
To promote startups across all the State/UTs, Government of India has launched Startup India initiative in 2016. This initiative aims at building a strong ecosystem for nurturing innovation and Startups in the country. In order to meet the objectives of the initiative, Government has launched various programmes to promote Startups across the country are as […]
Creation of Jobs by Startups Startup India is a flagship initiative of Government of India which aims at building a strong ecosystem for nurturing innovation and Startups in the country. This initiative was launched on 16th January 2016. The startups are recognized as per eligibility conditions prescribed under G.S.R. notification 127 (E) dated 19th February, 2019. […]
Single Window System While presenting Budget 2020-21, Finance Minister announced plans to set up an Investment Clearance Cell (ICC) that will provide ‘end to end’ facilitation and support to investors, including pre-investment advisory, provide information related to land banks and facilitate clearances at Centre and State level. The cell was proposed to operate through an […]
F.No. 401/ 93 /2021-Cus-III Government of India Ministry of Finance Department of Revenue (Central Board of Indirect Taxes & Customs) North Block, New Delhi Instruction No. 28/2021-Customs | Dated 9th November December, 2021 To, All Principal Chief Commissioner/ Chief Commissioner of Customs/ Customs (Preventive). All Principal Chief Commissioner/ Chief Commissioner of Central Excise & Customs. […]
The Web Aggregator was not ensuring that the leads generated are concluded within three months of their generation and even then, the Web Aggregator has been paid remuneration from the concerned insurer. It was observed that there were 12,263 cases where the web aggregator received commission for sale of insurance product after three months from the date of lead generation. Same was verified from the lead management system of the WA.
Collaboration with Foreign Companies under Atmanirbhar Bharat The Government announced Atmanirbhar Bharat Abhiyan – a special economic package of Rs20 lakh crore on 12.05.2020 with the aim of making the country self-reliant and to focus on local manufacturing. It focuses on preparing the country for tough competition in global supply chains, enhance the ease of […]
