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Archive: December, 2021

Posts in December, 2021

ICSI Mega Placement Drive, 2022

December 30, 2021 4176 Views 0 comment Print

The Institute is striving towards supporting the members by providing appropriate employment opportunities. The Institute is organizing Mega Placement Drives through its regional offices at Mumbai, New Delhi, Kolkata and Chennai for recruitment of Company Secretary(ies) in various Organisations and Firms of Practising Company Secretaries.

IRDAI directs discontinuation of ‘DIGIT Group Total Protect Policy’

December 30, 2021 3174 Views 0 comment Print

M/s Go Digit General Insurance Limited to discontinue the product DIGIT Group Total Protect Policy allotted UIN GODPAGP22103V032122 which is not compliant with Section 3(1) of Insurance Act, 1938 with immediate effect.

TDS on income accrued outside the Indian territory for services rendered

December 30, 2021 1080 Views 0 comment Print

Tribunal held the addition to be erroneous and has considered in detail the nature and expenses in respect of which the assessee was sought to be penalized for not deducting the tax deducted at sources, holding that these expenses were in respect of the income accrued outside the territory for services rendered. With this finding the said question was rejected.

Duty cannot be demanded for mere shifting of goods to another premise by 100% EOU-importer

December 30, 2021 1893 Views 0 comment Print

Power Weave Software Services P. Ltd. Vs Commissioner of Central Excise (CESTAT Mumbai) The appellant is in appeal against the impugned order wherein duty has been demanded from the appellant for import of the goods being 100% EOU, who obtained permission from Software Technology Parks of India (STPI in short) and goods were also liable […]

Customs officials detect around 1 kg of cocaine

December 30, 2021 2112 Views 0 comment Print

Customs officials detect around 1 kg of cocaine ingested as pellets by passenger at IGI Airport, one arrested In a display of tremendous alacrity, the Customs officers at Indira Gandhi International Airport (IGIA), New Delhi, unravelled yet another case of cocaine smuggling by detecting a case of human ingestion of specially designed pellets containing cocaine. […]

CBIC Notifies Rate of Exchange of Turkish Lira wef 31.12.2021

December 30, 2021 603 Views 0 comment Print

CBIC notifies Rate of Exchange of Turkish Lira against Indian Rupees with effect from 31st December, 2021 vide Notification No. 106/2021-Customs (N.T.) | Dated: 30th December, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 106 /2021 – Customs (N.T.) New Delhi, dated the 30th […]

IRDAI releases 2021-22 List of Domestic Systemically Important Insurers

December 30, 2021 3681 Views 0 comment Print

Domestic Systemically Important Insurers (D-SIIs) refer to insurers of such size, market importance and domestic and global inter connectedness, whose distress or failure would cause a significant dislocation in the domestic financial system. Therefore, the continued functioning of D-SIIs is critical for the uninterrupted availability of insurance services to the national economy.

Income Tax Dept searches 2 prominent groups of Raipur & Korba

December 29, 2021 1020 Views 0 comment Print

The Income Tax Department carried out search and seizure operations on 22.12.2021 on two prominent groups of Raipur and Korba, engaged in the business of manufacturing of iron & steel products, coal washery and transportation, etc. The search action covered more than 35 premises spread over Raipur, Korba, Bilaspur and Raigarh districts of Chhattisgarh.

Income Tax Search and Seizure: Controversy in computing period of limitation to frame search assessments

December 29, 2021 6192 Views 0 comment Print

The period of limitation for completion of assessment u/s 153A of the Income Tax Act’ 1961 for the searches conducted on or before 31st Day of March’2021 is governed by the provisions of Section 153B of the act. Even though the Section 153A of the Income Tax Act’ 1961 has been made non applicable for the searches initiated on or after the 1st Day of April’2021.

Right to avail ITC cannot be denied on service tax paid after introduction of GST

December 29, 2021 5091 Views 0 comment Print

Circor Flow Technologies India Private Ltd. Vs Principal Commissioner of GST & Central Excise, (CESTAT Chennai) Section 142 (3) of GST Act provides how to deal with claims of refund of service tax of tax and duty / credit under the erstwhile It is stated that therein that such claims have to be disposed in […]

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