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Archive: 09 October 2023

Posts in 09 October 2023

Deduction given in sales invoice being discount not taxable under Business Auxiliary Service

October 9, 2023 609 Views 0 comment Print

CESTAT Ahmedabad held that deduction given in sales invoice being discount, even though under nomenclature of commission, cannot be treated as commission for the purpose of levy of Service Tax under ‘business Auxiliary Service’.

Notification 25/2012-ST exempts works contract service related to railway

October 9, 2023 2199 Views 0 comment Print

CESTAT Kolkata held that works contract service including sub-contracts related to Railway is exempted from service tax vide notification no. 25/2012-ST dated 20th June 2012.

MCA Drops Adjudication Proceedings for Unfiled Balance Sheets

October 9, 2023 6192 Views 0 comment Print

Introduction: The Ministry of Corporate Affairs (MCA) has taken a significant step in the case of Mirage Finance Private Limited, opting to drop adjudication proceedings. This decision comes in response to the company’s actions to rectify their non-compliance with the Companies Act, particularly regarding unfiled balance sheets. In this article, we will explore the details of […]

IRDAI Issues Bima Vahak Guidelines 2023 for Women-Centric Insurance Distribution

October 9, 2023 504 Views 0 comment Print

IRDAI introduces the Bima Vahak Guidelines 2023 to establish a dedicated women-centric distribution channel, enhancing insurance accessibility and availability across India.

Rajasthan high court directs to release goods seized by Enforcement Directorate

October 9, 2023 1806 Views 0 comment Print

Read Rajasthan High Court’s judgment in Bhagwati Jewellers regarding release of seized gold bullion and goods by Enforcement Directorate

Automated Status Holder Certificate Issuance with no requirement of filing any application

October 9, 2023 693 Views 0 comment Print

India’s DGFT introduces automatic Status Holder Certificate issuance for exporters. Explore the revised procedure eliminating the need for filing applications in this public notice.

Filing & Reporting Form 10B (From A.Y. 2023-24 & Onwards)

October 9, 2023 23466 Views 0 comment Print

Form 10B notified vide Notification No. 7/2023 dated 21st February 2023 is applicable from Assessment Year 2023-24 onwards i.e. for A.Y. 2023-24 and upcoming years. However, old Form 10B is also available on portal and is applicable till Assessment Year 2022-23 only.

Automated Export Status Certificate Issuance in India – DGFT Update

October 9, 2023 693 Views 0 comment Print

Government of India’s DGFT introduces automated export certification with e-SHC. Learn about the new process, benefits, and exceptions in this trade notice.

IRP, RP or liquidator not allowed to cross Laxman Rekha in due diligence: IBBI

October 9, 2023 234 Views 0 comment Print

An in-depth analysis of a disciplinary case involving Mr. Kamal Agarwal, an Insolvency Professional, and his rejection of claims, despite court rulings

Bilateral Safeguard Measures on “Ferro Molybdenum” Imports from South Korea implemented

October 9, 2023 225 Views 0 comment Print

n an effort to protect its domestic industry, India has decided to implement bilateral safeguard measures on imports of “Ferro Molybdenum” originating from the Republic of Korea. This move follows the recommendations made by the Directorate General of Trade Remedies (DGTR) under the India-Korea Comprehensive Economic Partnership Agreement (Bilateral Safeguard Measures) Rules, 2017. MINISTRY OF […]

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October 2023