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Archive: 28 April 2023

Posts in 28 April 2023

Tariff Notification No. 32/2203-Customs (N.T.) Dated: 28th April, 2023

April 28, 2023 1128 Views 0 comment Print

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver – Notification No. 32/2203-Customs (N.T.) Dated: 28th April, 2023 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi Notification No. 32/2203-Customs (N.T.) | Dated: 28th April, 2023 S.O. 1967(E).—In exercise of the powers conferred by sub-section […]

ICAI imposes fine on 4 Chartered Accountants for Professional Misconduct

April 28, 2023 7680 Views 0 comment Print

Ordered for removal of name of CA. Pradeep Kumar Manglik from Register of Members for a period of 3 (Three) months and also imposed a fine of Rs. 1,00,000

New TRQ Applications under tariff head 7108 under India-UAE CEPA for FY 2023-24

April 28, 2023 2193 Views 0 comment Print

New applications for TRQ for imports under tariff head 7108 under India-UAE CEPA for FY 2023-24 are invited from the date of this Public Notice up to 7th May 2023.

Introduction of ISD– Buy-back on NEAPS platform

April 28, 2023 1302 Views 0 comment Print

SEBI vide its aforesaid referred circular introduced ISD for the following events in XBRL (Extensible Business Reporting Language) format with effect from May 02, 2023: ISD for Buy-back of equity shares through tender offer ISD for Buy-back of equity shares from the open market

Valuation of closing stock at realization value considering rust stock – ITAT remands matter back to AO

April 28, 2023 2601 Views 0 comment Print

GK Steel & Wire Products Vs ITO (ITAT Delhi) The main contention of the assessee is that the value of the opening stock of the assessee has gone down resulting in gross loss of Rs.25,32,724/-. The ld. Counsel submits that this is because due to rust stock and the sales realization was lower than the […]

Deemed dividend addition cannot be made in the hands of payer of loan

April 28, 2023 888 Views 0 comment Print

Assessee is not a recipient but payer of loan. Hence, as per provisions of Section 2(22)(e) of Income Tax Act, assessee was not liable to tax

ALP determined by ITAT can be challenged before HC for perversity & non observance of TP rules: SC

April 28, 2023 1566 Views 0 comment Print

Tribunal Decision determining ALP can be challenged on grounds of perversity & non observance of transfer pricing rules in individual cases

10 NEW Functionality introduced by GSTN on GST Portal

April 28, 2023 23916 Views 3 comments Print

Change made in Composition restriction table – Message table containing HSN wise list of items restricted for availing compositing scheme has been updated in registration application on portal

Exploring Trademark Filing in India: Interesting Facts and Insights

April 28, 2023 2406 Views 0 comment Print

Uncover the intriguing world of trademark filing in India with these facts. From the history of trademark laws to the e-filing system, explore the nuances of registration.

Concept of Significant Beneficial Owner (SBO)

April 28, 2023 80970 Views 1 comment Print

As per Section 90 of Companies Act, 2013, every individual, who acting alone or together, or through one or more persons or trust, including a trust and person’s resident outside India, has (indirectly or indirect with direct holdings) following rights in reporting company:

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