"August, 2022" Archive - Page 4

Proposed SCOMET Policy for export of drones/UAVs

Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Vanijya Bhawan, New Delhi Dated: 30th August, 2022 Subject:- Circulation of proposed amendment in Category 5B of SCOMET List related to export of Drones/UAVs and General Authorization for Export of Drones/UAVs (GAED) , a SCO...

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Posted Under: DGFT |

Classification of Air Conditioners in CKD/SKD condition

In re Mitsubishi Electric India Private Limited (CAAR Delhi)

In re Mitsubishi Electric India Private Limited (CAAR Delhi) The legal position regarding classification of goods in CKD/ SKD conditions are fairly settled. As per rule 2(a) of the GRI, “any reference in a heading to an article shall be taken to include a reference to that article incomplete or unfinished, provided that, as presente...

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Commercial Credit Notes In GST- Is It a Service Rendered by Recipient?

1. Credit Notes are passed u/s 34 of CGST Act incase of – – Taxable Value and Tax Charged is more than that payable – Deficiency in Service/Goods – Sales Return 2. In Business, GST Credit Notes under 1st Limb are passed for Post Sale Discounts were – There is a pre-sale agreement – The […]...

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Posted Under: DGFT |

ICAI Announces the formation of SRO for Social Stock Exchange

Issue of Capital and Disclosure Requirements (Third Amendment) Regulations, 2022 by social enterprises has set the tone for the formation of the Social Stock Exchange in India, as a separate segment of a recognized stock exchange, to facilitate fundraising by social enterprises, both for-profit as well as not for profit organisations....

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Posted Under: DGFT |

Food Safety and Standards (Advertising and Claims) First Amendment Regulations, 2022

Notification No. Stds/SP(L&C/A)/Oil Claims/FSSAI-2018 30/08/2022

FOOD SAFETY AND STANDARDS AUTHORITY OF INDIA NOTIFICATION New Delhi, the 30th August, 2022 No. Stds/SP(L&C/A)/Oil Claims/FSSAI-2018.—Whereas the draft of certain regulations, namely, the Food Safety and Standards (Advertising and Claims) Amendment Regulations, 2021, was published vide notification of the Food Safety and Standards Au...

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Food Safety and Standards (Foods for Infant Nutrition) First Amendment Regulations, 2022

F.No. Std./SP-05/T(IFR-01) 30/08/2022

(1) These regulations may be called the Food Safety and Standards (Foods for Infant Nutrition) First Amendment Regulations, 2022. (2) They shall come into force on 1st October, 2022....

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Food Safety and Standards (Packaging) Second Amendment Regulations, 2022

Notification No. Std/SP-20/T(Migration-N) 30/08/2022

FOOD SAFETY AND STANDARDS AUTHORITY OF INDIA NOTIFICATION New Delhi, the 30th August, 2022 No. Std/SP-20/T(Migration-N).—Whereas the draft of the Food Safety and Standards (Packaging) Amendment Regulations, 2021, were published as required under sub-section (1) of section 92 of the Food Safety and Standards Act, 2006 (34 of 2006) vide n...

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Section 115JB doesn’t apply to foreign company

ACIT Vs Credit Suisse AG (ITAT Mumbai)

Held that accounts of foreign company are not prepared as per companies act and are not laid in Annual General Meeting before the shareholders of the company. Hence, provisions of section 115JB of the Income Tax Act cannot be made applicable to a foreign company....

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Payment of pre-deposit by debiting electronic credit ledger not allowable

Johnson Matthey Chemical India Pvt. Ltd. Vs Assistant Commissioner CGST (CESTAT Allahabad)

Held that mandatory deposit under section 35F of the Central Excise Act cannot be made by way of debit in the Electronic Credit Ledger maintained under CGST Act....

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Refund of service tax available as both service tax & GST paid on same transaction

TPI Advisory Services India Private Limited Vs Commissioner of Central Tax (Karnataka High Court)

Held that undisputedly the appellant has made payment of both service tax and also GST. Further, service tax invoices were subsequently cancelled by issuing credit note. Hence, refund of service tax available to the assessee....

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