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Archive: 31 December 2021

Posts in 31 December 2021

Free YouTube Live on The global landscape –  from market’s to trade

May 24, 2024 807 Views 0 comment Print

Join us for an insightful and dynamic YouTube Live session on “The global landscape –  from market’s to trade.” with renowned financial analyst Ankit Baid, MBA Finance. The presentation explores shifting of the global economic landscape, focusing on the decline of US dominance and the rise of China. It examines the potential decrease in global […]

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7518 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Income Tax Department searches mobile manufacturing companies

December 31, 2021 1875 Views 0 comment Print

Income Tax Department conducts pan-India searches in case of mobile manufacturing companies The Income Tax Department carried out search and seizure operations pan-India on 21.12.2021 in the case of certain foreign controlled Mobile Communication & Mobile Hand-set Manufacturing Companies and their associated persons. Various premises in the states of Karnataka, Tamil Nadu, Assam, West Bengal, […]

Section 10(46) exemption to Bureau of Indian Standards

December 31, 2021 7977 Views 0 comment Print

Vide Notification No. 142/2021-Income Tax | Dated: 31st December, 2021 CBDT notifies Tax Exemption to Bureau of Indian Standards (BIS), set up by the Bureau of Indian Standards Act, 1986, in respect of the specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) […]

Rajasthan VAT Amnesty Scheme Extended to 31.01.2022

December 31, 2021 9951 Views 0 comment Print

Rajasthan VAT Amnesty Scheme Extended to 31.01.2022 from existing date of 31st December 2021 vide Notification No. F.12(97)FD/Tax/2017-Pt.-I-91 Dated December 31, 2021. GOVERNMENT OF RAJASTHAN FINANCE DEPARTMENT (TAX DIVISION) NOTIFICATION Jaipur, Dated December 31, 2021 In exercise of the powers conferred by sub-section (2A) of section 174 of the Rajasthan Goods and Services Tax Act, […]

Excise Refund claim made on or before 01.07.2017 will be dealt under excise law: CESTAT Chandigarh

December 31, 2021 2613 Views 0 comment Print

Riba Textiles Limited Vs CCE & ST, Panchkula (CESTAT Chandigarh) Provisions of Section 142 of CGST Act, 2017 clearly show that every claim of refund, every proceeding of appeal, review or reference filed/initiated whether on or before the appointed day i. e. 1.7.2017 under the existing law which means the jurisdiction for the purpose of […]

Deferred the decision to change rates in textiles from 5% to 12% w.e.f. 01.01.2022

December 31, 2021 5226 Views 0 comment Print

The Ministry of Finance vide Press Release dated December 31, 2021 stated that the GST Council’s 46th meeting held on December 31, 2021 under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has recommended to defer the decision to change the rates in textiles recommended in the […]

Application for reduction of share capital maintainable under Section 66: NCLAT

December 31, 2021 6666 Views 0 comment Print

Brillio Technologies Pvt. Ltd. Vs Registrar of Companies (NCLAT Delhi) NCLAT that the NCLT has erroneously held that the Application for reduction of share is not maintainable under Section 66 of the Act, consent affidavits from the creditors is mandatory for reduction of share capital, SPA cannot be utilized for making payment to non-promoter shareholders, […]

Extension of Last Date for Submitting applications for Scrip based FTP Schemes

December 31, 2021 12258 Views 0 comment Print

The last date of submitting applications under MEIS, SEIS, ROSCTL, ROSL and 2% additional ad hoc incentive (under para 3.25 of FTP) which was earlier notified to be 31.12.2021 has been extended till 31.01.2022.

No GST exemption on accommodation services provided to officials on Election Duty

December 31, 2021 2196 Views 0 comment Print

In re Golkonda Hotels And Resorts Limited (GST AAR Telangana) M/s. Golconda Hospitality Services and Resorts Limited, are in the business of providing accommodation and services and in the course of the business they have supplied the services of boarding and lodging facility for the officials of Greater Hyderabad Municipal Corporation for conducting 2018 General […]

Cenvat Credit not eligible on transportation of employees

December 31, 2021 1947 Views 0 comment Print

HC held that Cenvat Credit not eligible on facility of transportation provided by the appellant to its employees as same was merely in the nature of service for personal use or consumption of its employees.

GST council decides to not to increase GST Rate on Textile & Maintain Status Quo

December 31, 2021 26625 Views 0 comment Print

GST Council has recommended to defer the decision to change the rates in textiles recommended in the 45th GST Council meeting. Consequently, the existing rates in textile sector would continue beyond 1st January, 2022.

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