"19 January 2022" Archive

Constitution of Committees to advise the authority for writing off of arrears of Excise Duty, Service Tax and Customs Duty

Circular No-1080/01/2022-CX. 19/01/2022

Circular No-1080/01/2022-CX. No- 296/63/2020-CX.9 Government of India Department of Revenue Central Board of Indirect Taxes and Customs ********* Room No-267D, North Block, New Delhi, 19th January, 2022 All Principal Chief Commissioners/Chief Commissioners of ST & CX, All Principal Chief Commissioners/Chief Commissioners of Customs Al...

CBIC Master Circular on Recovery and Write-off of Arrears of Revenue

Circular No. 1081/02/2022-CX 19/01/2022

Board has issued Instructions/Circulars relating to recovery of arrears under Central Excise, Service Tax and Customs from time to time. Considering the changes that have taken place, especially after the introduction of GST in July, 2017, it has become imperative to update and revamp the procedure for recovery of arrears of Indirect taxe...

Zirconium Oxide Ceramic Dental Blanks classifiable under Chapter Heading 69091200

In re Jyoti Ceramic Industries Pvt. Ltd. (GST AAR Maharashtra)

In re Jyoti Ceramic Industries Pvt. Ltd. (GST AAR Maharashtra) Question 1: – Whether the Product namely ‘Zirconium Oxide Ceramic Dental Blanks’ in different sizes as sold by Applicant are classifiable under Chapter Heading 69091200 as ‘Ceramic Product’ as at this stage Artificial Teeth are not produced from i...

AAR Maharashtra allows Minakshi P Kakade to withdraw application

In re Minakshi P Kakade (GST AAR Maharashtra)

The Application in GST ARA Form No. 01 of M/s. Minakshi P Kakade, vide reference ARA No. 42 Dated 13.10.2020 is disposed of, as being withdrawn voluntarily and unconditionally....

GST not payable on recoveries from employees for notice pay recoveries & for providing parental insurance

In re Syngenta India Limited (GST AAR Maharashtra)

Recovery of notice pay from dues of employee / payment of notice pay by the employee who could not serve the notice for the period as per contractual agreement / appointment letter does not amount to supply and therefore as per Section 7 (1A) of the CGST Act, 2017, the provisions of Schedule II does not come into play....

Govt. extends validity of existing MSMEs registration upto March 31, 2022

Notification No. S.O. 278(E) 19/01/2022

Govt. amends the guidelines for registration of existing enterprise under MSME Ministry Notification dated June 26, 2020; States that the existing enterprises (MSMEs) registered prior to June 30, 2020, shall continue to be valid for a period up to March 31, 2022 (earlier, March 31, 2021): Ministry of MSMEs...

Guidelines under clause (10D) section 10 of Income-tax Act, 1961

Circular No. 2 of 2022-Income Tax 19/01/2022

The Finance Act, 2021 amended clause (10D) of section 10 of the Act by inserting fourth to seventh provisos. Fourth proviso provides that, with effect from 01.02.2021, the sum received under a Unit Linked Insurance Policy (ULIP), issued on or after 01.02.2021, shall not be exempt under the said clause if the amount of premium payable for ...

Re-import of steel for packaging will not be covered under SIMS

Policy Circular No. 38/2015-2020-DGFT 19/01/2022

A. Whether re-import of goods for packaging purposes falling under HS codes of Chapters 72,73 and 86 of ITC (HS), 2017 is also covered under scope of SIMS? Whether SIMS Registration is required if the steel/steel item is exported from DTA to SEZ and then imported from SEZ to DTA when [I] the item is being imported to DTA without any value...

SEBI Chairman launches ‘Saa₹thi’ – SEBI’s Mobile App on Investor Education

Press Release No. 03/2022 19/01/2022

Shri Ajay Tyagi, Chairman, SEBI launched 'Saa₹thi' – SEBI’s Mobile App on Investor Education at a function held in Mumbai today. The SEBI Mobile App aims to create awareness among the investors about the basic concepts of Securities Market, KYC Process, trading and settlement, mutual funds, recent market developments, investor griev...

Alignment of AEO Circulars with CAROTAR, 2020 – Reg

Circular No. 02/2022- Customs 19/01/2022

Reference is drawn to Circular No. 33/2016–Customs dated 22.07.2016 as amended, including by Circular No. 54/2020- Customs dated 15.12.2020, vide which relaxation in furnishing of Bank Guarantee was extended to various categories of AEO/AEO (MSME), but would not be applicable in cases where the Competent Authority orders furnishing of B...

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