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Archive: 23 July 2022

Posts in 23 July 2022

GST Rule 96(10) A Nightmare For Exporters

July 23, 2022 45072 Views 3 comments Print

Unraveling the complexities of GST Rule 96(10): A challenge for exporters. Understand the restrictions, amendments, and the impact on categories like Advance License Holders, EOU, and Merchant Exporters. Stay informed on recent changes and potential solutions.

Role of Chartered Accountant (CA) in Banking Industry

July 23, 2022 36033 Views 1 comment Print

Explore the diverse roles of Chartered Accountants in the banking industry. From credit management to risk assessment, a CAs analytical skills find applications in various sectors. Learn about opportunities in private and public banks, wealth management, and more.

GST on packaged products & amendments to Legal Metrology (Packaged Commodities) Rules

July 23, 2022 9114 Views 1 comment Print

Navigate the changes in GST on packaged products with the latest amendments to Legal Metrology Rules. Understand the implications, declarations, and exemptions for pre-packaged commodities. Stay compliant with the evolving tax and packaging regulations.

Mechanism for Computation of Income of Trust by Finance Act 2022 – Entire income is not liable for tax

July 23, 2022 11292 Views 0 comment Print

Unlock the intricacies of income computation for non-profit trusts under the Finance Act 2022. Delve into the conditions, deductions, and guidelines to comprehend tax implications.

Levy of Service Charge on Supply of Food- How Far Justified

July 23, 2022 7986 Views 0 comment Print

Explore the controversial world of service charges on food bills in hotels and restaurants. Understand the historical context, legal perspectives, and recent guidelines from CCPA. Know your rights as a consumer and the legal nuances involved. Stay informed on the ongoing debate

Analysis of Cash Payments under section 40A(3) and 43(1)

July 23, 2022 23136 Views 0 comment Print

Unravel the complexities of Cash Payments under sections 40A(3) and 43(1) of the Income Tax Act, 1961. Dive into the implications of exceeding Rs.10,000 cash payments for revenue expenditures and acquisition of fixed assets. Understand the nuances of disallowance and actual cost determination. Explore real-life examples to grasp the intricate interpretations.

FAQs on Legal Metrology (Packaged Commodities) Rules, 2011

July 23, 2022 14757 Views 0 comment Print

Explore FAQs on Legal Metrology (Packaged Commodities) Rules, 2011. Learn about legal metrology, offences, pre-packaged commodities, sale, protection, labels, net quantity, retail sale price, and more. Get clarity on declarations, e-commerce regulations, and important aspects of packaged commodities.

Advisory concerning sale of Ayurvedic, Siddha and Unani drugs

July 23, 2022 945 Views 0 comment Print

Advisory under Consumer Protection Act, 2019 concerning sale of Ayurvedic, Siddha and Unani drugs containing ingredients listed in Schedule E (1) of the Drugs and Cosmetics Rules, 1945 on e-commerce platforms.

CAIT requests for withdrawal of 5% GST on unbranded Food grains

July 23, 2022 2784 Views 1 comment Print

5% GST tax which has been in effect from 18th July, 22 to be applied on all prepackaged and pre-labeled food grains and other items in the country in pre-packing of 25 kg /25 liters or less, even if they are non­-branded.

ED searches brokers illegally availing Stamp Duty Exemption

July 23, 2022 744 Views 0 comment Print

ED has conducted searches at 8 locations in Sikkim, Kolkata, Delhi and Mumbai in the Sikkim MCX Fraud case. A total amount of Rs 4.65 Crore was frozen from the bank accounts of brokers that corresponded to the undue gain availed by such brokers by illegally availing Stamp Duty Exemption Directorate of Enforcement Department of […]

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