The Income Tax Department conducted search and seizure operations on a business group engaged in gaming activity, online betting (including cricket betting), etc. on 15.02.2022. Total of 29 premises spread over Mumbai, Delhi, Surat, Jaipur, Pune and Kolkata were covered. The search action revealed that the group was operating in a clandestine manner and had concealed its operations and income from law enforcement agencies. The revenue generated by the group from its activities is largely in cash.
R.K. Transport Private Limited Vs Union of India (Jharkhand High Court) Recovery proceedings under Section 79 of the CGST Act cannot be initiated for recovery of interest under Section 50 of the Act without initiation and completion of the adjudication proceedings under the Act The issue at hand is whether interest liability under Section 50 […]
Cryptocurrency is a form of virtual digital asset which is designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of assets. It has become one of the fastest upcoming modes of investment. Crypto refers to the various algorithms and techniques that safeguard these entries such […]
The export policy of Injection Remdesivir and Remdesivir Active Pharmaceutical Ingredients (API), Amphotericin – B injections, Enoxaparin (Formulation and API) and Intra-Venous Immunoglobulin (IVIG) (Formulation and API) falling under HS code as mentioned above or falling under any other HS code has been made ‘Free’ with immediate effect.
CBIC extend the levy of ADD on jute products originating in or exported from Nepal and Bangladesh up to and inclusive of the 30th June, 2022 vide Notification No. 10/2022-Customs (ADD). MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 24th February, 2022 Notification No. 10/2022-Customs (ADD) G.S.R. 157(E).—Whereas, the designated authority vide initiation notification […]
CBIC vide Notification No. 09/2022-Customs (ADD) extended anti-dumping duty on imports of Soluble Salt, Double Charge, GVT and PGVT Porcelain /Vitrified Tiles with less than 3% water absorption and All sizes except Micro-crystal tiles, Full body tiles and Thin Panels below 5 mm thickness. The anti-dumping duty imposed under this notification shall be effective for a period […]
(i) an examination shall be conducted by the Central Boilers Board Examination Standing Committee or an agency or Regional Examination Standing Committees authorized by it, as per the following examination methods, namely:- (a) written Examination consisting of design, manufacture, operation and maintenance of the boiler, Non Destructive Testing Techniques, inspection and certification of boilers during manufacture and use as per Indian Boiler Regulations( 70% weightage);
The provisions of Section 103 states that the ruling pronounced is binding only on the applicant. It is amply clears that if a recipient of supply obtains a ruling on the taxability of his inward supply of goods or services or both, the supplier of such goods or services or both is not bound by that ruling and he is free to assess the supply according to his own determination/understanding of law and hence ruling loses its relevance and applicability.
Aggarwal Dyeing and Printing Works Vs State of Gujarat (Gujarat High Court) Facts- The writ applicant is a sole proprietary concern and is engaged in the business of manufacturing of dyeing and printing fabrics. The writ applicant was a registered dealer holding GSTIN with effect from 04.08.2017. The copy of such registration certificate in the […]
Globus Petroadditions Pvt. Ltd. Vs UOI (Bombay High Court) A perusal of the Order passed by the Assistant Commissioner indicates that he has refused to comply with the Order passed by the Commissioner (Appeals-II) by recording reasons as to why the said Order cannot be complied with as if the Assistant Commissioner was sitting in […]
