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Archive: 18 September 2022

Posts in 18 September 2022

RoDTEP and RoSCTL: Transferability Eased

September 18, 2022 12906 Views 0 comment Print

RoDTEP and RoSCTL are e-scrips issued by customs in respect of remission of embedded local duties/ taxes/ levies in exported goods.

Settlement of international Trade In INR – Amendment of Foreign Trade Policy

September 18, 2022 2385 Views 0 comment Print

In order to promote growth of global trade with emphasis on exports from India and to support the increasing interest of global trading community in INR, it has been decided to put in place an additional arrangement for invoicing, payment, and settlement of exports / imports in INR.

Reopening of assessment based on Investigation Report of other Assessee justified

September 18, 2022 2127 Views 0 comment Print

S. Raheja Realty Pvt. Ltd. Vs Office of Income Tax Officer (Gujarat High Court) On perusal of the Explanation (1) of the Section 148, it is clear that that for the purpose of Section 148A, the information with the Assessing Officer which suggests that the income chargeable to tax has escaped assessment means any information […]

Delhi HC allows reopening of AY 2013-14 till 30th June, 2021

September 18, 2022 3279 Views 0 comment Print

Touchstone Holdings Pvt. Ltd. Vs ITO (Delhi High Court) Delhi High Court allows reopening of AY 2013-14 (despite being beyond 6 years from 1st April 2021), basing on extension as per Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (TOLA). The time limit for issuing notice under unamended Section 149 which […]

Importer cannot be treated as original owner of Goods for Provisional Release of Seized Goods under Customs Act

September 18, 2022 1203 Views 0 comment Print

HC held that for interim release of goods under Section 110A of Customs Act, 1962 importer of goods cannot be regarded as owner

Assertion of clandestine removal cannot be proved merely by testimony of some transporters

September 18, 2022 1044 Views 0 comment Print

HC held that accusations of clandestine removal cannot be confirmed merely based on statement of few transporters under Central Excise Act

Validity & legality of an order has to be tested in terms of reasons assigned in order

September 18, 2022 951 Views 0 comment Print

It is by now well settled that the validity and legality of an order has to be tested in terms of reasons assigned in the order itself. The distinction that is now sought to be drawn has been taken only at the stage of filing a reply and counter to the writ petition.

Unregistered but compulsorily registrable document can be enforced

September 18, 2022 2214 Views 0 comment Print

Yukti Construction Pvt. Ltd Vs Asha Sharma (Uttarakhand High Court) An arbitration agreement does not require registration under the Registration Act. Even if it is found as one of the clauses in a contract or instrument, it is an independent agreement to refer the disputes to arbitration, which is independent of the main contract or […]

SVLDRS Scheme describes total amount of duty as outstanding duty alone

September 18, 2022 1026 Views 0 comment Print

Total amount of duty in clause (d) of section 123 of the 2019 Act, for SVLDRS, could only mean the total amount of outstanding duty payable by a declarant making voluntary disclosure, as it could never have been intended by the legislature that the revenue would collect and/or recover tax liability which had already been discharged by the declarant.

GST on Goods Transport Agency (GTA) Services by Road

September 18, 2022 5232 Views 0 comment Print

Explore the intricate details of Goods and Services Tax (GST) on Goods Transport Agency (GTA) Services by Road. Understand the definition of a GTA and the services exempt from GST. Delve into the taxable and non-taxable items, exemptions for specific recipients, and the applicable GST rates for registered and unregistered entities. Stay informed on the latest updates and make informed decisions regarding the taxation of GTA services in the realm of GST.

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