"07 January 2022" Archive - Page 4

Annual Information Statement – Foreign travel

In simple terms, the ‘Annual Information Statement’ is a comprehensive statement covering details of all the financial transactions undertaken by the taxpayer in the Financial Year. Whereas, ‘Taxpayers Information Summary’ is a summarized form of the said financial details. In the present article, we will look at one of the inform...

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Posted Under: Income Tax |

Rajasthan VAT- ITC Mismatch/Verification date extended to 31.03.2022

Rajasthan VAT  – ITC Mismatch/ Verification Date Extended to 31.03.2022 & In some cases requirement of Affidavit also Removed vide Notification No. F.16 (100)Tax/CCT/14-15/1039 Dated January 03,2022. GOVERNMENT OF RAJASTHAN COMMERCIAL TAXES DEPARTMENT NOTIFICATION Jaipur, dated January 03,2022 In exercise of the powers conferre...

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Posted Under: Income Tax |

HC directs Customs Commissioner to consider representation of Appellant & Pass reasoned & speaking order

Carbon Resources Private Limited Vs The Prinicipal Commissioner of Customs (Port) & Anr. (Calcutta High Court)

Carbon Resources Private Limited Vs The Prinicipal Commissioner of Customs (Port) & Anr. (Calcutta High Court) Petitioners in this writ petition are aggrieved by inaction on the part of the respondents to dispose of their first representation dated December 26, 2020 being Annexure P3 to the writ petition as well as the second represen...

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HDFC Bank goes live for Customs Duty payments

HDFC Bank today announced that its integration with Central Board of Indirect Taxes and Customs (CBIC) ICEGATE platform has gone live. With this, the Bank will offer customers the convenience of directly paying Customs Duty by selecting HDFC Bank. This follows authorisation by the Principal Chief Controller of Accounts of CBIC to collect ...

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Posted Under: Income Tax |

Advisory on Form 3CA-3CD, 3CB-3CD to avoid errors in filing

Clarification on Form 3CA- Form 3CD, Form 3CB- Form 3CD In order to avoid errors in form filing and verification, kindly ensure that following points are considered: 1. Use the latest version of the utility for generating JSON 2. Please re-enter data, if any, in clauses 11, 18, 20, 21, 26 and 34 and generate […]...

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Posted Under: Income Tax | ,

Time limit commence from the date Assessee receives notice

Pradip Kumar Saha vs. Union of India & ors. (Calcutta High Court)

Pradip Kumar Saha vs. Union of India & ors. (Calcutta High Court) The case in hand is that the appellant came to know of the notice for the first time on 11.09.2021 at 14.19 hours and received the same by speed post but the appellant’s accountant entered the online portal to submit reply to the […]...

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Cenvat Credit eligible on construction services for setting up of Effluent Treatment Plant in existing running factory

Adroit Pharmachem Private Limited Vs Commissioner of Central Excise & ST (CESTAT Ahmedabad)

Adroit Pharmachem Private Limited Vs Commissioner of Central Excise & ST (CESTAT Ahmedabad) Revenue submits that after 01.04.2011, construction service was excluded from the definition of ‘Input Service’ therefore, the appellant is not entitled for Cenvat credit. Appellant has already existing factory and in the said factory, Effl...

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Tyres needs to be classified based on Dominant use of the same

The Tyre Mark Vs Commissioner of Customs (CESTAT Bangalore)

We find going by the principle of dominant use as enunciated in the judgments cited above, as we find that the tyres are basically suitable for off-road use that is in difficult terrain and rocky/muddy areas etc....

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NI Act | Sec 138 | No prosecution of Joint account holder who not signed cheque

Kodam Danalakshmi Vs State of Telangana (Telangana High Court)

Kodam Danalakshmi Vs State of Telangana (Telangana High Court) A person who is the signatory to the cheque and the cheque is drawn by that person on an account maintained by him and the cheque has been issued for the discharge, in whole or in part, of any debt or other liability and the said […]...

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NFT and its mechanism and taxation on NFT’s in India

What is NFT? NFT means Non Fungible Token. Yes that’s it. Goodbye. Oh no it is more than that, first we will understand the meaning of Non Fungible. Well, it means something that cannot be exchanged for another item because of its uniqueness. For Example- If Mr. John has a unique monalisa art it means […]...

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Posted Under: Income Tax |

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