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Archive: 28 October 2022

Posts in 28 October 2022

Restriction on export of sugar extended till 31.10.2023

October 28, 2022 2007 Views 0 comment Print

Restriction on export of Sugar (Raw, Refined and White sugar) is extended beyond 31.10.2022 till 31.10.2023, or until further orders, whichever is earlier.

CBDT approves Krea University, Sricity for Research under Section 35(1)(iii)

October 28, 2022 396 Views 0 comment Print

CBDT approves Krea University, Sricity for for research in ‘Social science or Statistical research’ for the purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 read with rules 5C and 5E of the Income-tax Rules, 1962 vide Notification No. 118/2022-Income Tax | Dated : 28.10.2022. MINISTRY OF FINANCE (Department […]

Procedure for identification of parboiled rice varieties during export

October 28, 2022 2298 Views 0 comment Print

References have been received of variation in procedure followed for identification of parboiled rice variety of CTH 1006.30.10 (which attracts nil rate of duty) at the time of export so as to distinguish it from other varieties of rice under the CTH 1006.30.90 which are dutiable.

MahaRERA: Maintain Professional etiquette during hearing of complaints

October 28, 2022 498 Views 0 comment Print

Parties at all times during the hearing, shall avoid speaking on phones having refreshment etc. shall maintain formal dress code and maintain proper decorum befitting the dignity as maintained in open court.

Spare parts & lubricants used in provision of authorized service station service not includible in gross value

October 28, 2022 1350 Views 0 comment Print

CESTAT Ahmedabad held that where during the provision of Authorized Service Station Services, the spare parts and lubricants sold and VAT thereupon was paid the value of such spare parts and lubricants would not attract Service Tax.

Non-dealing with alternative claim cannot be reason for revisionary jurisdiction u/s 263

October 28, 2022 609 Views 0 comment Print

ITAT Ahmedabad held that exercising revisionary jurisdiction u/s 263 of the Income Tax Act for not dealing with alternative claim and claiming the order of AO as prejudicial to the interest of revenue is not sustainable as anyhow deduction was available to the assessee.

Company into huge losses & not in a position to appoint CS – Penalty reduced

October 28, 2022 699 Views 0 comment Print

Company is into huge losses and not in a position to appoint Company Secretary and stated initially company is having Company Secretary upto 2019 and also put all its efforts to retain the Company Secretaries on long term basis as well as to fill the vacancy to the office of the Whole Time Company Secretary. However, the Company was unable to find a suitable candidate who are committed to work on long term basis.

FAQ’s on filing of Income Tax Form 3CEB

October 28, 2022 12018 Views 0 comment Print

What is the procedure to approve Form 3CEB? Form uploaded by CA shall be available under For your action tab in Taxpayer’s Worklist. Taxpayer may either approve or reject form 3CEB.

Time limit applicable for demand of customs duty also applies to recovery

October 28, 2022 2661 Views 0 comment Print

It is settled position of law that the time limit applicable for demand of customs duty under section 28 ibid is also applicable to recovery of amount under section 28B.

Pre-deposit payment method for cases pertaining to Excise & Service Tax

October 28, 2022 14358 Views 0 comment Print

It may be seen that Form GST DRC -03 is prescribed for payment of tax, interest, penalty under sub-sections (5) and (8) of both sections 73 and 74, and section 129 (I) of the CGST Act, 2017 or any other payment due in accordance with the provisions of the CGST Act, 2017 as specified in rule 142 (2) and 142 (3) of the CGST Rules, 2017

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October 2022