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Archive: 22 December 2023

Posts in 22 December 2023

Customs Exemptions for Echo Dot 4 and Echo Show 5 Among Echo Devices

December 22, 2023 735 Views 0 comment Print

Eleven devices were correctly classifiable under CTH 8517 and more particularly under Tariff Entry 8517 62 90. Echo Show 5, Echo Dot 4th Generation and Echo Dot 4th Generation with Clock were held eligible to claim exemptions in accordance with SI. No. 20 of the Notification dated 30 June 2017, as amended vide Notification dated 01 February 2021.

ICAI Holds Auditor Guilty of Misconduct for Failing to Detect Transactions in Bank Audit

December 22, 2023 696 Views 0 comment Print

The ICAI Disciplinary Committee found CA. Tirumavalavan CK guilty of professional misconduct for failing to perform his duties as a bank auditor. He was reprimanded and fined.

Coaching Services Are Composite Services: Appellate Advance Ruling

December 22, 2023 3084 Views 0 comment Print

In a recent decision by the Appellate Authority for Advance Ruling (AAAR) Rajasthan, it was clarified that coaching services provided by institutes, bundled with the supply of goods/services, constitute a composite supply, primarily comprising coaching services.

Note on Kavin Gas Vitarak Case Madras High Court

December 22, 2023 13407 Views 1 comment Print

Gain insights into the recent Kavin Gas Vitarak case at the Madras High Court, offering potential relief for taxpayers facing ITC denial. Delve into the context, examining changes in Rule 60 and the impact of filing GSTR-3B manually. Understand the limitations of this decision, primarily applicable to FYs 2017-18 to 2018-19, shedding light on the dynamics between GSTR-2 and GSTR-3B for claiming and availing ITC

Building A Better Future for Homebuyers: Maharera’s Proposal for A Robust Quality Assurance System

December 22, 2023 795 Views 0 comment Print

Explore MahaRERA’s groundbreaking proposal for a robust Quality Assurance System in India’s real estate. Learn how Third-Party Quality Monitoring ensures defect-free homes and boosts customer trust.

Income Tax Department Unearths Massive Tax Evasion in East India Operation

December 22, 2023 1371 Views 0 comment Print

In a recent search operation in Odisha, Jharkhand, and West Bengal, Income Tax Department reveals staggering tax evasion of a group involved in liquor, healthcare, and education businesses.

Government’s Action Plan to Combat Ponzi Scams

December 22, 2023 582 Views 0 comment Print

Explore the comprehensive steps taken by the Government of India and RBI to regulate Ponzi apps and address large-scale scams. Learn about the Banning of Unregulated Deposit Schemes Act and proactive measures against fraudulent loan apps.

No Health Tax Proposal for Tobacco Products: Govt

December 22, 2023 984 Views 0 comment Print

Explore the latest developments in India’s tobacco tax system. Learn about the proposed health tax on tobacco products and its impact on NCD/Cancer Care Fund. Get insights from the Ministry of Finance’s response to Rajya Sabha’s Unstarred Question No-1823.

Action Plan To Make The Country Third Largest Economy

December 22, 2023 504 Views 0 comment Print

Explore the comprehensive action plan by the Government of India’s Ministry of Finance to propel the nation into the third-largest economy by 2027. Discover key reforms and strategies for sustained growth.

Steps To Reduce Interaction Between Taxpayer & Income Tax Department

December 22, 2023 954 Views 0 comment Print

Explore how the Indian Ministry of Finance leverages technology and reforms to reduce taxpayer interactions, streamline assessments, and promote cooperative incentives.

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