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Archive: 17 August 2022

Posts in 17 August 2022

CBDT amends Income Tax Rule 17 and FORM No.10

August 17, 2022 8556 Views 0 comment Print

CBDT vide Notification No. 96/2022-Income Tax | Dated: 17th August, 2022 amends Income Tax Rule 17. Exercise of option etc. under Explanation 3 to the third proviso to clause (23C) of section 10 or section 11 and amends FORM No.10 – Statement to be furnished to the Assessing Officer/Prescribed Authority under clause (a) of the Explanation […]

Certificate of Inspection for export of Rice to EU Countries/States

August 17, 2022 2934 Views 0 comment Print

The Notification No. 61/2015-20 dated 23.03.2022 is amended to the extent that export of Rice (Basmati and Non-Basmati) to EU member states and other European Countries namely United kingdom, Iceland, Liechtenstein, Norway and Switzerland only will require Certificate of Inspection from EIA/EIC. Export to remaining European countries (except United Kingdom, Iceland, Liechtenstein, Norway and Switzerland) […]

Advanced Guide To Securities Transaction Tax

August 17, 2022 3747 Views 3 comments Print

Get a comprehensive guide to Securities Transaction Tax (STT). Learn about its history, applicability, charges, and more.

List of documents for claim of drawback by exporter/CHA

August 17, 2022 4263 Views 0 comment Print

procedure of processing drawback claims under section 74 of the Customs Act, 1962, including drawback claims for export of goods imported and cleared under RMS.

Drawing a line between General Tax Exemption & Exemption for a beneficial purpose

August 17, 2022 2028 Views 3 comments Print

SC in Government of Kerala vs Mother Superior Adoration Convent has tried to draw a line between a General Tax Exemption and Exemption for a beneficial purpose.

Applicability of amended provisions pertaining to Auditor’s Report on Annual Filing for F.Y. 2021-22

August 17, 2022 9321 Views 1 comment Print

Stay updated with the applicability of amended provisions pertaining to Auditors Report on Annual Filing for F.Y. 2021-22. Learn about the changes introduced by the Companies (Audit and Auditors) Amendment Rules, 2021.

Addition based on baseless estimated past savings unjustified

August 17, 2022 1272 Views 0 comment Print

Held that estimating past savings as Rs. 6,00,000, without any basis, instead of Rs. 9,03,900 and also ignoring the evidences produced for the same. Addition of the same deleted.

Refractory bricks used for re-lining of furnace are eligible for EPCG scheme

August 17, 2022 1830 Views 0 comment Print

Held that refractory bricks required for re-lining of the furnace are covered within the definition of capital goods and hence eligible for EPCG scheme as per notification no. 102/2009- Cus dated 11.09.2009

Allegation of clandestine removal without corroborative evidence is unsustainable

August 17, 2022 1080 Views 0 comment Print

Held that allegation of clandestine removal only on the basis of incriminating statements, which were retracted, in absence of corroborative evidence is unsustainable.

Rejection of request for conversion of free shipping bills to advance authorization scheme shipping bills not justified: CESTAT

August 17, 2022 4611 Views 0 comment Print

Neha Agrawal Carboline India Pvt. Ltd. Vs Commissioner of Customs (CESTAT Chennai) Facts: i. The appellant had exported ‘Paint for fire proofing THERMO Lag 3000 SP’ vide 2 shipping bills dated 18.04.2018 and 02.05.2018. ii. Two Advance authorisations (AA) dated 09.04.2018 & 02.05.2018 were obtained for duty free import of raw materials with an export […]

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