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Archive: 22 January 2023

Posts in 22 January 2023

SEBI introduces Information database and Repository on Municipal Bonds

January 22, 2023 498 Views 0 comment Print

SEBI to provide a common platform for stakeholders to discuss the concerns of the issuers of Municipal Debt Securities, the requirements of investors, the extant regulatory framework and to recommend measures to increase awareness of and improve traction in the market for Municipal Debt Securities.

Companies (Miscellaneous) Amendment Rules, 2023

January 22, 2023 2334 Views 0 comment Print

These rules may be called Companies (Miscellaneous) Amendment Rules, 2023.They shall come into force with effect from 23rd day of January, 2023.

Interest not payable In absence of condition precedent in Section 11AA of Central Excise Act, 1944

January 22, 2023 1647 Views 0 comment Print

CESTAT held that interest is payable for default in depositing the tax by the due date voluntarily or after determination of the amount of duty under Section 11A of Central Excise Act, 1944.

Foreign Tax Credit under DTAA cannot be denied for Delay in filing Form 67

January 22, 2023 4902 Views 0 comment Print

Rohan Hattangadi Vs CIT (A) (ITAT Mumbai) From Rule 128, it is evident that the assessee has to file Form 67 on or before the due date of furnishing the return of income as per section 139(1) of the Act, which the statement specifies as mandatory and not directory as per the word ‘shall’ used […]

Penalty cannot be imposed under Rules 26 of Central Excise Rules, 2002 on employee of Company

January 22, 2023 1260 Views 0 comment Print

Hubergroup India Pvt Ltd Vs C.C.E. & S.T.-Daman (CESTAT Ahmedabad) As regard, penalty imposed on Shri. Suresh Nair employee of the appellant’s Company. I find that the issue of correct calculation of Cenvat Credit on the invoice issued by the 100% EOU was always in dispute, therefore, mala fide cannot be attributed to the employee […]

ITAT disallows rent expenses due to non-exitance of rent agreement

January 22, 2023 2397 Views 0 comment Print

Miracle Cars India Pvt Ltd. Vs DCIT (ITAT Chennai) The undisputed facts are that the agreement between the assessee and M/s. DRS Industries Ltd., dated 30.06.2010 did not materialize and consequently, the dealership of Skoda cars sales & services has not been transferred to the assessee. Further, the rent agreement in respect of premises where […]

GSTR-1 PDF to EXCEL Extraction Tool

January 22, 2023 6927 Views 4 comments Print

Instructions to use GSTR-1 PDF to EXCEL Extraction Tool 1. Kindly check your EXCEL version before using this tool it  shall be 2016,2019,2021 or office 365. 2. Save all GSTR-1 Final PDFs in a separate folder on your desktop, not in cloud storage (Eg. Google Drive, One Drive etc.) 3. Don’t save any other files […]

India’s Economic Potential discussed at World Economic Forum

January 22, 2023 486 Views 0 comment Print

Discover the highlights of India’s economic potential discussed at the World Economic Forum 2023. Explore insights on continued growth, financial security, labor reforms, and strategies for global competitiveness. Learn about the key takeaways and recommendations for India’s future success in international trade, investments, and partnerships.

India’s promising outlook at IMF 2023

January 22, 2023 561 Views 0 comment Print

Explore Indias pivotal role at the 2023 International Monetary Fund (IMF) meeting, where discussions on global economic policies and reforms take center stage. With Indias remarkable economic growth, successful reforms, and increasing global influence, the nation is poised to lead discussions and contribute to solutions for the worlds economic challenges.

Streamlining the GST system for 2023-24 with expected Changes

January 22, 2023 2586 Views 0 comment Print

Explore the expected changes to the Goods and Services Tax (GST) system in the 2023-24 budget. Learn about proposed reductions in tax slabs, removal of concessional rates, increased input tax credits, and a streamlined filing system. These changes aim to simplify GST, enhance efficiency, and boost government revenue.

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January 2023