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Archive: July, 2023

Posts in July, 2023

Suspension of Customs Broker Licence without affording adequate opportunity of being heard is unjustified

July 8, 2023 3354 Views 0 comment Print

Andhra Pradesh High Court held that order for continuing the suspension of Customs Broker Licence without affording adequate opportunity of being heard is against the principles of natural justice. Writ disposed off with direction to submit written explanation within specified time.

Guide to e-Form DPT-3, Due Date and Consequences

July 8, 2023 7242 Views 0 comment Print

Understand the requirements of filing e-Form DPT-3, the due date for annual return filing, and the penal consequences of non-compliance. Get insights into the purpose of the form, its applicability, and the latest amendments.

Relevance of Statement Recorded Under Section 70 of CGST Act in Adjudication Proceedings

July 8, 2023 15087 Views 0 comment Print

Understand the relevance of statements recorded under Section 70 of the CGST Act in adjudication proceedings. Explore the provisions of the Act and the distinction between prosecution proceedings and adjudication proceedings.

Demand of service tax unsustainable as Konkan & Indian Railways are not separate entities

July 8, 2023 1221 Views 0 comment Print

CESTAT Mumbai held that appellant i.e. Konkan Railway Corporation Ltd. and Indian Railways are not separate entities and hence demand of service tax is unsustainable.

Declared transaction value cannot be rejected without cogent reasons prescribed in Customs Valuation Rules

July 8, 2023 2247 Views 0 comment Print

CESTAT Ahmedabad held that the transaction value declared by the importer should form the basis of assessment unless the same is rejected, for reasons set out in Rules of Customs Valuation Rules.

Directions issued by superior authorities are binding on Assessing Officer

July 8, 2023 3237 Views 0 comment Print

ITAT Delhi held that directions issued by a superior appellate authorities are binding on the Assessing Officers and Assessing Officer is required to strictly follow the directions of the appellate authorities and decide the issue as per the directions of the appellate authorities.

TDS under Section 195 shall not be subjected to disallowance under S. 40(a)(i): ITAT

July 8, 2023 3525 Views 0 comment Print

In present facts of the case, the Hon’ble Tribunal remanded the matter to AO to reconsider disallowance made under Section 40(a)(i) pertaining to whether the assessee has made TDS under section 192 with respect the salary paid to the seconded employees in its entirety.

RBI Report on Internationalisation of INR: Prospects and Recommendations

July 8, 2023 2772 Views 0 comment Print

Reserve Bank of India (RBI) has released a comprehensive report by the Inter-Departmental Group (IDG) on the internationalisation of INR. The report examines the potential of INR as an international currency and provides recommendations for its progress. Learn about the analysis, cross-country experiences, and the roadmap proposed by the IDG in this report.

Representation for Extension of various GST Amnesty schemes under GST

July 8, 2023 16350 Views 1 comment Print

Income Tax Bar Association and All Gujarat Federation of Tax Consultants jointly make a representation for the extension of various Amnesty schemes under GST that ended on June 30, 2023.

RFP for appointment of CA or CMA Firm for Accounting & Tax consultancy in PFRDA

July 8, 2023 1698 Views 0 comment Print

Pension Fund Regulatory & Development Authority (PFRDA) has released a Request for Proposal (RFP) for the appointment of a Chartered Accountant/Cost Accountant firm. This RFP is for accounting work and tax consultancy services for the period Aug 2023 to July 2024.  This RFP is for accounting work and tax consultancy services for the period Aug 2023 […]

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