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Archive: 09 December 2022

Posts in 09 December 2022

Department cannot deny interest on refund once refund clam is sanctioned

December 9, 2022 1317 Views 0 comment Print

Rosy Blue India Private Limited vs. Union of India (Bombay High Court) The Petitioner challenged non-sanction of refund of service tax paid on export of services. The Show Cause Notice proposing denial of refund was challenged. However, during the pendency, refund of principal was granted. The interest on delayed refund from 2010-2011 till 2022 was […]

Notification No. 105/2022-Customs (N.T.), Dated: 09.12.2022

December 9, 2022 2019 Views 0 comment Print

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi Notification No.105/2022-Customs (N.T.) | Dated: 9th December, 2022 S.O. 5773(E).—In exercise of the powers conferred by sub-sections (1A), (4) and (5) of Section 5 read with sub-section (34) of section 2 of the Customs Act, 1962 (52 of 1962), the Central […]

Applicability of GST on Cold Storage

December 9, 2022 22110 Views 0 comment Print

Explore the applicability of GST on Cold Storage services, focusing on definitions, ITC claims, and taxation nuances. Learn about GST impact on leased premises, machinery, and services related to agricultural produce. Stay informed to navigate GST complexities.

Bribery Case: Punishment of dismissal from service of Commercial Tax Officer disproportionate

December 9, 2022 1143 Views 0 comment Print

Madras High Court in the case of dismissal of Commercial Tax Officer from the service due to collection of bribe as Diwali Mamool from the traders held that punishment of dismissal from service is disproportionate to the nature of charge.

Writ maintainable as no alternate efficacious remedy available

December 9, 2022 1383 Views 0 comment Print

Delhi High Court held that as appellant have exhausted their appellate remedy and there is no alternate efficacious remedy available to the appellant, the court finds the case fit for exercise of discretionary powers under Article 226.

Annual export quota for red sanders (Pterocarpus santulinus) for Andhra Pradesh notified

December 9, 2022 594 Views 0 comment Print

State Govt shall develop a digital platform with Geo referenced sites and MIS giving the no of trees, their age and diameter at breast height.

NPS Prosperity Planner (NPP) for Adequacy in Retirement Income Planning

December 9, 2022 2964 Views 0 comment Print

PFRDA takes a plethora of initiatives, enablers, empowerment kits & series of digitally enabled solutions for the large-scale adoption of NPS for the holistic retirement planning of the existing and prospective Subscribers.

Foreign investment in Alternative Investment Funds (AIFs)

December 9, 2022 1233 Views 0 comment Print

Foreign investor of the AIF is a resident of the country whose securities market regulator is a signatory to the International Organization of Securities Commission’s Multilateral Memorandum of Understanding (Appendix A Signatory) or a signatory to the bilateral Memorandum of Understanding with SEBI.

Scheme(s) of Arrangement by entities who listed their NCDs/ NCRPS (‘debt listed entities’)

December 9, 2022 609 Views 0 comment Print

In this regard, it is clarified that the provisions of the aforementioned circular shall not apply to a Scheme of Arrangement which solely provides for an arrangement between a debt listed entity and its unlisted wholly owned subsidiary.

Steps taken by centre to reduce import reliance

December 9, 2022 471 Views 0 comment Print

Government has taken several steps to reduce import reliance so as to curb the trade deficit. These include creating/enhancing of domestic capacity, incentivizing domestic manufacturing through Production Linked Incentive (PLI) schemes, phased manufacturing plans, timely use of trade remedy options, adoption of mandatory technical standards, enforcement of FTA Rules of Origin (RoO) and development of […]

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