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Archive: February, 2024

Posts in February, 2024

Customs Duty Update: Name Change for Acetone Producer

February 28, 2024 1182 Views 0 comment Print

Ministry of Finance amends anti-dumping duty on Acetone from EU, Singapore, South Africa, and USA. Name change for producer INEOS Phenol Singapore Pte. Ltd. Details of notification.

Nomination & Remuneration Committee provisions not applies to private limited entity 

February 28, 2024 1932 Views 0 comment Print

Authorized Representative of the company highlighted the company’s status as a private limited entity during the fiscal year 2015-16, arguing that the provisions concerning the constitution of the Nomination and Remuneration Committee were inapplicable.

FAQs on IFSCA (Payment Services) Regulations, 2024

February 28, 2024 1362 Views 0 comment Print

Get insights into the IFSCA Payment Services Regulations 2024 FAQs. Learn about authorization, payment services, and regulatory compliance. Contact IFSCA for details.

Service tax demands cannot be imposed solely on ITR/26AS statements: CESTAT Hyderabad

February 28, 2024 6939 Views 0 comment Print

CESTAT clarifies service tax demands cannot be based solely on ITR or 26AS statements. The department must prove service provision, recipient, and consideration. This decision upholds consistent rulings and protects businesses from unsubstantiated demands.

MCA imposes penalty on Company & Directors for Section 62(1)(b) Violation

February 28, 2024 2811 Views 0 comment Print

Explore the penalty order issued by the Adjudicating Officer against Krazzy Fin Pvt Ltd for violating Section 62(1)(b) of the Companies Act, 2013. Understand the case details and implications.

CESTAT Orders Proper Delivery of Final Order to Vedanta

February 28, 2024 1578 Views 0 comment Print

CESTAT directed the customs department to deliver a certified copy of their final order to Vedanta Limited following proper procedures. This ensures Vedanta receives the order and can exercise their appeal rights.

Redemption Fine cannot Exceed Product’s Market Value Minus Duty: CESTAT

February 28, 2024 957 Views 0 comment Print

CESTAT Chennai rules redemption fine cannot exceed market value in Vinayaga Traders vs Commissioner of Customs case, setting precedent for import disputes.

AAR can’t give ruling on issues not covered under Section 97(2) of CGST Act 2017

February 28, 2024 1416 Views 0 comment Print

Discover why the AAR cannot issue rulings on matters outside CGST Act 2017, Section 97(2), through the case of Srinivasa Constructions India Pvt. Ltd.

E-Commerce Operator Must Register for TCS under CGST Act 2017

February 28, 2024 2058 Views 0 comment Print

Dive into the details of Changejar Technologies Pvt. Ltd’s GST AAR in Karnataka. Learn about their classification as an e-commerce operator, tax obligations, and more.

GST Rate On Supply of Jewellery With Watch Is In Dispute

February 28, 2024 7713 Views 0 comment Print

Explore the GST rate dispute on jewellery with watches in India: Gold bracelet/watch chains’ classification under GST at 3% or 18%? A critical look at composite supply, legal interpretations, and the need for clear tax laws for better compliance.

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