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Archive: September, 2023

Posts in September, 2023

CAAR Ruling: Applicability of Duty Rates for X-Ray Tube & Spare Parts

September 14, 2023 3048 Views 0 comment Print

Read the Customs Authority’s ruling on the duty rates for X-Ray tubes and spare parts, their classification, and the impact on medical equipment imports.

Advisory on Validating Bank Account on Income Tax Portal for Income Tax Refund

September 14, 2023 34614 Views 0 comment Print

Check if your bank account is valid for refund. Learn how to update or revalidate your account details on the e-filing portal. Get assistance and support.

Major International Financial Fraud Scandals: Analysis & Impact

September 14, 2023 3276 Views 1 comment Print

Explore significant global financial fraud cases, including Enron, WorldCom, Barings Bank, Madoff’s Ponzi scheme, Parmalat, VW’s emissions scandal, Wirecard, and Steinhoff.

Company Law Committee Tenure Extended till 16.09.2024

September 13, 2023 1065 Views 0 comment Print

Ministry of Corporate Affairs extends the tenure of the Company Law Committee till September 16, 2024, with details on its objectives and members.

MCA Imposes 11.84 Lakh for 178-Day Whole Time CS Appointment Delay

September 13, 2023 1047 Views 0 comment Print

Government of India fines Nissan Motor India and directors 11.84 lakh for 178-day delay in appointing Company Secretary. Details, analysis, and implications.

Cenvat available on naphtha used for generation of electricity which is consumed within factory

September 13, 2023 876 Views 0 comment Print

CESTAT Kolkata held that naphtha used for generation of electricity which is consumed within the factory of production is eligible for Cenvat Credit.

Deeming provision u/s 69 not applicable on unrecorded transaction as nature and source explained

September 13, 2023 3315 Views 0 comment Print

ITAT Chandigarh held that transactions which were not recorded at the time of survey are unrecorded transaction, however, as nature and source of such unrecorded transaction explained the same cannot be brought to tax under the deeming provisions of section 69 of the Income Tax Act.

Revocation of Customs Broker Licence unjustified without active or passive facilitation in mis-declaration/ undervaluation

September 13, 2023 918 Views 0 comment Print

CESTAT Delhi held that imposition of harsh punishment of revocation of Customs Broker Licence in absence of any active or passive facilitation in mis-declaration and undervaluation of imported goods unjustified.

Benefit of notification 67/95-CE available to molasses captively consumed for manufacture of rectified spirit

September 13, 2023 1113 Views 0 comment Print

CESTAT Bangalore held that benefit of notification no. 67/95-CE dated 16.03.1995 available in respect of molasses which is captively consumed for the manufacture of rectified spirit as rectified spirit is a dutiable excisable goods.

Convertible Note (CN)- Additional & flexible funding option for startups

September 13, 2023 1581 Views 0 comment Print

Explore the benefits of Convertible Notes (CN) as a flexible funding option for startups. Learn about the DPIIT registration process and conditions for issuing CNs, providing valuable insights for emerging companies seeking innovative funding solutions.

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