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Archive: 07 March 2022

Posts in 07 March 2022

Here’s How You Can Set Up an Income Stream for Your Family

March 7, 2022 1416 Views 0 comment Print

Ensuring sufficient financial resources for your family anytime is a moral obligation. And if you are the only earning member in the family, then it is your prime responsibility! So, it would help if you are looking for financial instruments such as passive income streams or a savings policy to set up an income stream for your family in your absence and otherwise.

Passing of fraudulent ITC by creating bogus firms- HC grants bail to accused

March 7, 2022 1539 Views 0 comment Print

Mohsin Salimbhai Qureshi Vs State of Gujarat (Gujarat High Court) Present Bail application was filed by, the present applicant, who was allegedly found indulged in receiving and passing of fraudulent ITC to their buyers by way of creating a chain of bogus firms, without physical receipt and supply of goods. HC observed that Section 132(1)(i) […]

Employees’ State Insurance (Central) Amendment Rules, 2022

March 7, 2022 5961 Views 0 comment Print

Provided also that in case of an insured woman who is in receipt of maternity benefit and due to reason of which a shorter contribution period is available to her in the contribution period in which the maternity benefit falls, she shall be qualified to claim sickness benefit in the corresponding benefit period if the contribution in respect of her was payable for not less than half the number of days available for working in such contribution period

NeGD allowed to perform Aadhaar authentication for DigiLocker

March 7, 2022 303 Views 0 comment Print

Ministry of Electronics and Information Technology notifies that the National e-Governance Division (NeGD) under Digital India Corporation is hereby allowed to perform Aadhaar authentication, on voluntary basis, for identification of residents in DigiLocker with effect from the date of publication of this notification in the official Gazette.

TNGST Act, 2017-conduct of test purchase – guidelines

March 7, 2022 12582 Views 0 comment Print

Section 67(12) of the TNGST Act 2017 states that, the Commissioner or an Officer authorised by him may cause purchase of any goods or services or both by any person authorised by him from the business premises of any taxable person, to check the issue of tax invoice or bills of supply by such taxable person and on return of goods so purchased by such officer, such taxable person or any person in charge of the business premises shall refund the amount so paid towards the goods after cancelling any tax invoice / bill of supply issued earlier.

Modus Operandi & Precautions to be taken against Fraudulent Transactions – Banks

March 7, 2022 5871 Views 0 comment Print

The Reserve Bank has today released a booklet, BE(A)WARE on the common modus operandi used by fraudsters and precautions to be taken while carrying out various financial transactions.

Recent Updates In GST till 06.03.2022

March 7, 2022 36630 Views 0 comment Print

Economists are now predicting of lower than 9.2% economic growth in financial year 2021-22. The third quarter has been hit by Omicron wave and expansion as expected could not take place. Economic growth is expected to be lower in Q3 and Q4 as compared to Q1 and Q2 of current fiscal. According to RBI, economic […]

Geomembrane is classified at HSN 5911 & Tarpaulin at HSN 3926

March 7, 2022 2589 Views 0 comment Print

In re Texel Industries Ltd. (GST AAR Gujarat) Whether the product, namely, Geomembranes merits classification under Heading 5911, Sub Heading 59111000 or Sub Heading 59119090, as Textile products, coated, covered or laminated with plastic, used for technical purposes? Geomembrane is classified at HSN 5911, tariff item 59111000. 2. Whether woven Tarpaulin manufactured by M/s. Texel […]

GST on composite supply of works contract provided to Adani Road Transport Ltd.

March 7, 2022 1341 Views 0 comment Print

In re Tecsidel India Private Limited (GST AAR Gujarat) (i) Whether the composite supply of works contract provided by Tecsidel to M/s. Adani Road Transport Ltd. shall be classified under Entry (vi) of Serial No. 3 of the Notification No. 11/2017-C.T. (R), dated 28th June, 2017 (hereinafter referred to as ‘the CGST Rate Notification’) liable […]

12% GST Payable on supply of EPABX system for Railways

March 7, 2022 1971 Views 0 comment Print

In re Intellecon Private Limited (GST AAR Gujarat) Whether the Entry no. 3(v) of the Notification No. 11/2017-Central Tax (Rate) dated 28.06.2017 (the Notification), as amended from time to time, is applicable to supplies by Intellecon under the Contract I and Contract II and resultantly, whether such supplies are subjected to 12% rate of Goods […]

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