As such the Development Commissioner appointed under section 11 of the Special Economic Zones Act, 2005 is neither a proper officer within the meaning of Section 2(34) the Customs Act, 1962 nor a Central Excise Officer for the purpose of Section 11A of the Central Excise Act, 1944, to demand excise duty vide impugned show cause notice.
To facilitate an economic recovery and build greater resilience to the crisis, we suggest few additional support of the India’s Revival Mission where the governmental support India’s MSME sector may need to relieve it of its economic plight. Considering these facts and Present Position of MSMEs we suggest further relief package with approximate amount of 2 lac Croreand based on experience in finance as well economics we assure that benefit to government in form of Higher than this amount by way of payment of Direct and indirect Taxes, lower NPA to Banks, lower job losses, uses of power accordingly this additional support will not be wasted but it will be invested. These suggestion are given under.
Since there was total or near total disruption of work due to alleged arrest of the customs officers and therefore, the delay in receiving and processing of transshipment application should not be at the cost of the Qatar Airways and assessee was not liable for demurrages and transshipment charges by Air Port Authority of India
Adjudication proceedings under the Customs Act, 1962 could not solely be based on the inculpatory statements of witnesses and noticee alone. Such statements could be only used for corroborating the case which the Department proposed to establish before the quasi-judicial authorities.
Lower rate of EPF subscription 10% with EPFO notified placing higher liquidity in the hands of employees and employers during COVID -19 pandemic. Government Sector, their PSEs and establishment whose subscription is being borne by Union Government under PMGKY continue to have subscription at old rates of 12%. Lower rates to be applicable for salary months of May, June and July 2020.
Since AO had not considered revised return of income which was filed within prescribed period of limitation for the difference between income disclosed in return and total receipts as per Form 26AS, therefore, the matter was remanded back to AO with direction to verify the fact and grant relief to assessee in accordance with law.
♦ Rs 40,000 crore increase in allocation for MGNREGS to provide employment boost. ♦ Increased investments in Public Health and other health reforms to prepare India for future pandemics.♦ Technology Driven Education with Equity post-COVID. ♦ Further enhancement of Ease of Doing Business through IBC related measures.
Since neither AO conducted any enquiry nor had brought any clinching evidences to disprove the evidences produced by assessee and assessee had furnished all details including bank statement, share brokers note, ledger account copies, share certificates, in support of purchase and sale of shares and mode of payment and receipts of proceeds thus, no addition could be made under section 68 as AO had merely relied on investigation wing report without disputing vortex of evidences furnished by assessee.
a. There will be fast tracking of investment clearance through Empowered Group of Secretaries. b. Project Development Cell will be constituted in each Ministry to prepare investible projects, coordinate with investors and Central/State Governments. c. There will be ranking of States on investment attractiveness to compete for new investment. d. Incentive schemes for promotion of new champion sectors will be launched in sectors such as solar PV manufacturing; advanced cell battery storage etc.
India’s overall exports (Merchandise and Services combined) in April 2020* are estimated to be USD 27.96 billion, exhibiting a negative growth of (-) 36.65 per cent over the same period last year. Overall imports in April 2020* are estimated to be USD 27.80 billion, exhibiting a negative growth of (-) 47.36 per cent over the same period last year.
