"04 August 2022" Archive

कर निर्धारण वर्ष 2022-2023 का लेट फीस के साथ आयकर रिटर्न तथा एक अगस्त 2022 के बाद तीस दिन में आयकर रिटर्न का वेरिफिकेशन

कर निर्धारण वर्ष 2022-2023 का लेट फीस के साथ आयकर रिटर्न तथा एक अगस्त 2022 के बाद तीस दिन में आयकर रिटर्न का वेरिफिकेशन ऐसे करदाता जिनका ऑडि...

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Posted Under: Income Tax |

If two choices are available, employee can select the one having higher benefits

Kerala State Co-Operative Bank Ltd Vs S. Viswanathamallan (Kerala High Court)

Held that when two choices are available, one under the provisions of the Payment of Gratuity Act and the other under such arrangement with the employer and if the latter offers better terms, the employee cannot be denied the right to receive those higher benefits....

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A Person can be prosecuted under both section 420 of IPC & section 138 of NI Act

Fayaz Ahmad Sheikh Vs Mushtaq Ahmad Khan (Jammu & Kashmir High Court)

Held that offences under Section 138 of the NI Act and Section 420 of IPC are distinct from each other because ingredients of the two offences are different. Person can be prosecuted under both the said sections....

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Yes bank being a private bank is not amenable to writ jurisdiction

Universal Hospital A1 AIN LLC Vs Yes Bank Limited (Gujarat high court)

Held that the respondent i.e. Yes bank being a private Bank is not amenable to the writ jurisdiction of this Court....

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Customs Exchange rate for Import & Export wef 5th August, 2022 

Notification No. 66/2022 - Customs (N.T.) 04/08/2022

Exchange rate Notification No. 66/2022-Cus (NT) dated 04.08.2022  notifying exchange rate with effect from 5th August, 2022 against Indian Rupees for Import and Export. Government Of India Ministry Of Finance Department Of Revenue Central Board Of Indirect Taxes And Customs New Delhi ***** Notification No. 66/2022 – Customs (N.T.)...

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GST on Renting of Residential Property/ Dwelling

GST on Renting of Residential Property/ Dwelling (Notification No. 05/2022-CT(Rate) dated 13-07-2022) With effect from 18th July 2022, exemption under GST on the service of renting of residential dwelling for use as residence (SAC 9972) shall be restricted where the recipient of such service is not registered under GST. Where the recipien...

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Posted Under: Income Tax |

Cost Audit and Cost Records

COST RECORD: The definition of the word ‘cost records’ has been provided under rule 2 (e) of the Companies (Cost Records and Audit) Rules, 2014 which means books of account relating to the utilization of materials, labour and other items of cost as applicable to the production of the goods or provision of services as […]...

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Posted Under: Income Tax |

DGFT removes requirement of BIS certification for import of ‘Hexane, Food Grade’

Notification No. 24/2015-2020-DGFT [S.O. 3702(E).] 04/08/2022

The requirement for BIS certification for import of ‘Hexane, Food Grade’ is removed, with immediate effect vide Notification No. 24/2015-2020-DGFT | Dated: 4th August 2022. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan, New Delhi Notification No...

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Guidelines for Renewal/Redemption of MLTGD

RBI/2022-23/100 DoR.AUT.REC.58/23.67.001/2022-23 04/08/2022

The redemption of principal at maturity shall, at the option of the depositor, be either in Indian Rupee equivalent of the value of deposited gold at the time of redemption, or in gold. However, any premature redemption of MLTGD shall be only in INR....

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GSTN may provide additional field to feed vehicle type in E-way bill Form: HC

Riadi Steels LLP Vs State of U.P. (Allahabad High Court)

Riadi Steels LLP Vs State of U.P. (Allahabad High Court) The GSTN authority is required to consider the feasibility of providing an additional field in the online form to be filled by dealers/transporters to obtain E-way bill, such that an additional field may be provided to feed the vehicle type i.e. normal or ODC etc., […]...

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