"03 October 2022" Archive

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

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....

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Posted Under: Income Tax |

CBIC increases AIDC on imports of platinum and Rhodium

Notification No. 53/2022-Customs [G.S.R. 760(E).] 03/10/2022

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 Custom...

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CBIC increases basic customs duty on imports of platinum

Notification No. 52/2022-Customs [G.S.R. 759 (E)] 03/10/2022

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...

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SEBI advised PMS investors to deal with SEBI registered intermediaries only

Press Release No. 30/2022 03/10/2022

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....

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Input Tax Credit – A New era, A Nightmare

Mechanism of claiming Input (ITC) in GST w.e.f 1st October 2022 Various amendments were proposed to be made in the GST law, in the Finance Budget 2022. These proposals for amendment of various sections have now been made effective from 1st day of October 2022 vide Notification 18/2022-CT dated 29.09.2022. After the enactment of these [&he...

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Posted Under: Income Tax | ,

How to file transition form GST TRAN-1?

Manual on Transition Form GST TRAN – 1 How can I file transition form GST TRAN – 1? 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 […]...

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Posted Under: Income Tax |

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

M. Mallika Mahal Vs Commissioner of Central GST and Central Excise (Madras High Court)

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....

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

DO No. 44/CH(IC)/2022 03/10/2022

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....

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

Notification No. G.S.R. 761(E) 03/10/2022

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...

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

Notification No. IBBI/2022-23/GN/REG100 03/10/2022

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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