"02 July 2022" Archive

TDS on Freebies to Dealers/Distributors/ Employees/ Business partners

Are you giving Freebies to Dealers/Distributors/ Employees/ Business partners, then from 1 July 2022 you need to deduct TDS under Section 194R...

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Posted Under: Income Tax

Filing of criminal case cannot be examined from competition law perspective

MB Geeta Education Society Vs Varthana Finance Pvt. Ltd (Competition Commission of India)

With regard to the filing of the criminal case against the Informant, the Commission notes that the same cannot be examined from the competition law perspective in the fact and circumstances of this case, as such litigation is not with any object of affecting competition but appears to be in the nature of proceedings toward recovery....

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No contravention of Competition Act, 2002 by Eastern Coalfields: CCI

Tamil Nadu Generation and Distribution Corporation Limited Vs Eastern Coalfields Limited (Competition Commission of India)

Tamil Nadu Generation and Distribution Corporation Limited Vs Eastern Coalfields Limited (Competition Commission of India) The dispute in the present Information centres around the sampling procedure. The Informant alleges that the sampling policy of CIL, whereunder the referee samples are to be kept in the premises of ECL/similar subsidi...

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Applicability of interest under GST

As per sec 50(1) of the CGST Act 2017, a taxpayer is liable to pay interest @ 18% p.a. on the late payment of tax or non-payment of Tax. The extract of the said section has been provided below....

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Posted Under: Income Tax |

FSSAI Food License Registration for Amazon Warehouses

What are Amazon Warehouses? Amazon is the largest e-commerce platform in the world. They promote and sell products online. People who sell their products through the Amazon platform are known as Amazon sellers. These sellers don’t need a shop to get sales but they need a storage place to hold their inventories. One way is […]...

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Posted Under: Income Tax |

FSSAI Food License Registration for Bars and Beverages

What are Bars and Beverages?  The reward is the same liquid as tea, milk, espresso, soup, ingesting, difficult refreshment, even water. Those objects are served in homes, eating places, bars and all juice stores. Offering and buying and selling currently indexed fees calls for an fssai license and fssai assist. The bars serve harsh flavo...

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Posted Under: Income Tax |

FSSAI Food License Registration for Fruit Importers

Natural merchandise business is the developing business location in India. FSSAI -food wellbeing permit registration likewise especially obligatory reports for natural products merchants to cope with the legitimate necessity. FSSAI  enlistment and kind of FSSAI  permit could differ in mild of the kind and size of the natural product com...

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Posted Under: Income Tax |

FSSAI license for energy drinks in India:

FSSAI  has drawn up a line of caffeine utilized in caffeinated liquids under the ideas for caffeinated beverage. For the folks who want to be associated with the assembling of caffeinated drink in India, it is mandatory to Because it recharges the body and kills exhaustion and overtiredness, and it’s far turning into the universal...

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Posted Under: Income Tax |

GST Implications on Insurance Claim Received on Loss of Stock or Capital Assets

Many times, the entities get insurance of their stock/capital assets to indemnify themselves from future uncertain and unfavorable events like theft, flood, fire, or any other reason. In this write-up, we will understand the following: – Is ITC available on a premium paid for insurance of stock/capital assets? Whether the amount rec...

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Posted Under: Income Tax |

IBC proceedings cannot dilute rights of Income Tax Depat to reopen assessment

Dishnet Wireless Limited Vs ACIT (Madras High Court)

Dishnet Wireless Limited Vs ACIT (Madras High Court) THE MADRAS HIGH COURT has ruled that proceedings under the Insolvency and Bankruptcy Code (IBC), 2016 cannot dilute the rights of the Income Tax Department to reopen the assessment under Section 148 of the Income Tax Act, 1961. BRIEF FACTS: 1. A notice under Section 148 of […]...

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