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Archive: 03 October 2022

Posts in 03 October 2022

Is Arm’s Length Range a Concept or Reality under Transfer Pricing

October 3, 2022 2349 Views 0 comment Print

The arm’s length range is an everchanging range as different transfer pricing methods yield a different range of figures which may all be workable. With regard to this, the arm’s length principle can only generate a comparison of the set of conditions that would have been approved between independent enterprises.

CBIC increases AIDC on imports of platinum and Rhodium

October 3, 2022 1581 Views 0 comment Print

CBIC increases AIDC on imports of platinum and Rhodium vide Notification No. 53/2022-Customs | Dated the 3rd October, 2022 MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 53/2022-Customs | Dated the 3rd October, 2022 G.S.R. 760 (E).—In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 […]

CBIC increases basic customs duty on imports of platinum

October 3, 2022 4137 Views 0 comment Print

CBIC increases increase basic customs duty on imports of platinum vide Notification No. 52/2022-Customs | Dated the 3rd October, 2022 MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 52/2022-Customs | Dated the 3rd October, 2022 G.S.R. 759 (E).—In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of […]

SEBI advised PMS investors to deal with SEBI registered intermediaries only

October 3, 2022 696 Views 1 comment Print

SEBI, cautions investors not to fall prey to such unauthorised money collection. While investing in securities market, investors are advised to deal only with SEBI registered intermediaries.

Input Tax Credit – A New era, A Nightmare

October 3, 2022 53697 Views 3 comments Print

Understanding the amendments to GST law and the impact on claiming Input Tax Credit. Stay updated with the changes and requirements for ITC.

How to file transition form GST TRAN-1?

October 3, 2022 5046 Views 0 comment Print

Every registered person who is eligible to take credit of eligible duties and taxes paid under existing laws in respect of input or input services or capital goods in his/her Electronic Credit Ledger, needs to file a declaration in Form GST TRAN – 1 within the specified period i.e. 01.10.2022 to 30.11.2022 as per the judgement made by the honorable Supreme court.

GST Returns can be filed for the period prior to cancellation of GST registration

October 3, 2022 8181 Views 1 comment Print

HC held that the assessee should be permitted to file GST returns for the period before the cancellation of GST Registration and make payment of tax dues along with interest.

Weekly newsletter from Chairman, CBIC dated 03/10/2022

October 3, 2022 975 Views 0 comment Print

In another exceptional detection, officers of the DRI, MZU recovered 198 kg of high purity Crystal Methamphetamine and 9 kg high purity Cocaine estimated to be worth Rs. 1476 Crores, concealed in a consignment of fresh fruit. Kudos to the officers for their excellent intelligence work and outstanding detections of unique modus operandi.

Rule 29A. Procedure of import or export or procurement from or supply to DTA of aircraft by a Unit in IFSC

October 3, 2022 2760 Views 0 comment Print

Rule 29A. Procedure of import or export or procurement from or supply to Domestic Tariff Area of aircraft by a Unit in International Financial Services Centre

IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2022

October 3, 2022 585 Views 0 comment Print

IBBI notifies Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2022

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