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Archive: 16 July 2022

Posts in 16 July 2022

Asia, ‘Digital Assets’ & NFTS: Codification & Definitions as of 2022

July 16, 2022 663 Views 0 comment Print

Understanding the current landscape of digital assets and NFTs in Asia. Explore the challenges faced by governments in defining and legislating these elements.

Amendment Relating To Exempted Goods under GST

July 16, 2022 5430 Views 1 comment Print

Discover the latest amendment relating to exempted goods under GST. Find out which items have been amended and stay updated with the changes.

All In One Tax Compliance Checklist For Ay 2022-23 (ITR Due Dates, Tax Audit, Presumptive Tax)

July 16, 2022 48567 Views 1 comment Print

Stay compliant with the complete tax checklist for AY 2022-23. Know the due dates for ITR, tax audit, and presumptive tax.

Guidelines on settlement mechanism of Merchanting trade Transaction

July 16, 2022 5067 Views 1 comment Print

Merchanting trade is a combination of export and import transaction. In case of Import and export movement of goods along with AD code are recorded in either Bill of entry or Shipping Bill. So, import payment and export collection should be settled through the same AD.

Export of goods through post

July 16, 2022 3795 Views 0 comment Print

Learn about the guidelines for exporting and importing goods through post. Explore the regulatory requirements and approved locations for this channel.

Import and its categories

July 16, 2022 5619 Views 0 comment Print

We often heard the terminology -Imports and we all know that anything is brought from overseas is treated as imports and parties involved are seller/exporter, freight forwarder/career, buyer/importer and custom authority. For any foreign currency transaction basic documents required are permission i.e. IEC (import export code),PAN (Permanent account number) and GST registration. Now the question […]

Third Party Exports & Third Party payment for exports/Import Transactions

July 16, 2022 111159 Views 15 comments Print

This article explains meaning of third-party along with requirement to be followed for third-party exports and third party imports, GST provision on the same, customs guideline and finally RBI requirement to fulfill the conditions for third-party exports and third-party import.

IBC (Amendment) Act, 2021 (Comparison with IBC, 2016) Part I

July 16, 2022 1500 Views 0 comment Print

Comparison between Old Act {Insolvency and Bankruptcy Code, 2016} & New/Amended Act {Insolvency and Bankruptcy Code (Amendment) Act, 2021} Part 1 (Changes in Sections/Substituted Sections) Amendment Insolvency and Bankruptcy Code, 2016 Insolvency and Bankruptcy Code (Amendment) Act, 2021 Short title and commencement This Act may be called the “Insolvency and Bankruptcy Code, 2016” This Act […]

Valuation of unquoted equity shares under Income Tax in case of transfer of shares and shares issued by company at premium

July 16, 2022 51138 Views 1 comment Print

Learn about the valuation of unquoted equity shares under Income Tax in case of transfer and issue of shares. Understand the importance of Fair Market Value and Capital Gain Tax.

DGIT notifies Income Tax Forms, returns for electronic submission

July 16, 2022 17856 Views 0 comment Print

Directorate of Income Tax (Systems) notifies that Form 3CEF, 10F, 10IA, 3BB, 3BC, 10BC, 10FC, 28A, 27C, 58D, 58C and 68 shall be furnished electronically and shall be verified in the manner prescribed under Income tax Rule 131(1). Form No. 3CEF, 58C, 58D, 27C, 3BB, 3BC, 10BC and 28A are now available on the e-Filing […]

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