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Archive: 16 January 2023

Posts in 16 January 2023

Supplies already undertaken are out of purview of Advance Ruling

January 16, 2023 1056 Views 0 comment Print

In re SPML Infra Limited (GST AAR Rajasthan) We observe that purpose of Advance ruling is to provide certainty of tax liability in advance in relation to a future activity to be undertaken by the applicant and help the applicant in planning about GST liability on activities well in advance along with proper interpretation and […]

Purchase of distribution rights of film is capital asset hence loss allowable as STCG

January 16, 2023 1509 Views 0 comment Print

ITAT Mumbai held that investment made for purchase of distribution rights of the film is for the purchase of capital asset and hence loss incurred on the same allowable as ‘short term capital loss’.

Time limit stated under Regulation 17(7) of CBLR, 2018 is mandatory in nature

January 16, 2023 1410 Views 0 comment Print

Calcutta High Court held that timeline prescribed under Regulation 17(7) of Customs Brokers Licensing Regulations, 2018 (CBLR, 2018) relating to completion of the proceedings and passing of the final order within 90 days from the date of receipt of inquiry report is mandatory in nature.

Classification & Exemption of Projectors for Automatic Data Processing Machines

January 16, 2023 648 Views 0 comment Print

Read about the classification and exemption of projectors designed for use with automatic data processing machines. Understand the specific heading for classification, the presence of additional features, and eligibility for exemption under Notification No. 24/2005.

ICSI requests Members to complete their CPE Credits by 31st March

January 16, 2023 2448 Views 0 comment Print

ICSI members are requested to complete their CPE Credits for the year 2022-23 (April 1, 2022 to March 31, 2023) as per ICSI (Continuous Professional Education) Guidelines, 2019 latest by March 31, 2023.

NSE seek comment on XBRL for submission of Announcements pertaining to Corporate Debt Restructuring

January 16, 2023 1101 Views 0 comment Print

Listed entities are required to submit periodical compliance filings to Stock Exchange(s) within prescribed timelines as laid down in SEBI Listing Regulations and accordingly it was mandated to report XBRL based filings for financials from year 2015 onwards.

Scope and Ambit of the Term “Proceeding” under GST Law

January 16, 2023 7494 Views 0 comment Print

The term proceeding is nowhere defined in the CGST Act. In layman’s terms the term proceeding simply means steps or measures taken in course of an action for enforcing rights, law or regulation.

SEBI allows meetings of unit holders of REITs through VC or OAVM

January 16, 2023 798 Views 0 comment Print

SEBI allows Investment Manager of REITs to conduct meetings of unit holders through Video Conferencing or Other Audio Visual means.

Department Holds Chakri of Taxpayers Kite

January 16, 2023 4386 Views 0 comment Print

Krishna, everyone around the nation enjoyed a lot on the day of Makar Sankranti, flying high their kites and cutting the ones of their friends and others. From children to elderly, everyone was seen having fun flying their Kites. Krishna, how high do you think the Taxpayers Kite will fly this year?

Digital Rupee- A new way of online transaction without Bank Account

January 16, 2023 3786 Views 0 comment Print

RBI launched Digital rupee and it is considered as a mean to implement monetary policies to provide stability, control growth, and influence inflation.

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