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Archive: 23 August 2024

Posts in 23 August 2024

Unit of Measurement for Food Wrapping Paper and Foils

August 23, 2024 621 Views 0 comment Print

Govt seeks feedback on labeling food wrapping paper and aluminum foils in both weight (kg) and size (meter x meter) for accurate consumer information.

Revised Duty Drawback Rates for Gold and Silver Jewelry

August 23, 2024 2181 Views 0 comment Print

The Indian government amends duty drawback rates for gold and silver jewelry with Notification No. 55/2024-Customs (N.T.), effective August 23, 2024.

Appeal Dismissed: IBBI Refuses to Disclose Insolvency Exam Papers

August 23, 2024 432 Views 0 comment Print

IBBI denies an RTI appeal seeking Limited Insolvency Examination question papers, citing confidentiality and competitive fairness as reasons under Section 8(1)(d) of the RTI Act.

India Imposes Anti-Dumping Duty on CPVC from China and Korea

August 23, 2024 2682 Views 0 comment Print

India extends anti-dumping duty on CPVC imports from China and Korea for five years to protect domestic industry from unfair pricing.

Streamlining of the first-time importer mapping with regards to DPD facility

August 23, 2024 693 Views 0 comment Print

Streamlining DPD registration for first-time importers at JNCH with updated verification via Advait. Previous notices modified; contact DPD Cell for issues.

Co-operative credit society providing credit facilities only to its members not hit by section 80P(4): ITAT Mumbai

August 23, 2024 552 Views 0 comment Print

The assessee is a co–operative credit society, registered under Maharashtra co–operative society Act, 1960 and is engaged in providing credit facilities to those CIDCO employees who are members of credit society.

Notice initiating fresh assessment set aside as issued beyond prescribed time limit: Delhi HC

August 23, 2024 1785 Views 0 comment Print

Delhi High Court held that department need to comply with the order of the Tribunal in passing a fresh assessment order within the time limit prescribed under section 153(3) of the Income Tax Act. Thus, notices initiating fresh assessment set aside.

Revision proceedings u/s. 263 cannot be invoked without giving reasons for setting aside assessment order

August 23, 2024 426 Views 0 comment Print

ITAT Chennai held that invoking the revisionary powers under section 263 of the Income Tax Act without giving any reasoning for setting aside the assessment order and merely directing AO verification without any basis is unjustifiable.

Deduction u/s. 80IA(4)(i) allowed to sole developer for developing, operating & maintaining infrastructure facilities

August 23, 2024 516 Views 0 comment Print

ITAT Ahmedabad held that the assessee has established that they were the sole developer in the contracts which are related to the developing, operating and maintaining the infrastructure facilities as envisaged u/s. 80IA(4)(i) of the Income Tax Act.

आगामी जीएसटी एमनेस्टी स्कीम की समीक्षा

August 23, 2024 2787 Views 0 comment Print

जीएसटी एक्ट 2017 के तहत अगस्त 2024 से लागू होने वाली एमनेस्टी स्कीम की समीक्षा। छूट, नियम और तैयारियों पर विस्तार से जानकारी प्राप्त करें।

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