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Analysis of Circular No. 16/2023 -Cus on Supreme Court’s judgment on ‘pre-import condition’ and its implications on IGST & Compensation Cess
Circular No. 15/2023-Customs discusses the introduction of mandatory additional qualifiers in import/export declarations for certain products, effective from 1st July 2023. Circular No. 15/2023-Customs refers to the earlier Circular 55/2020-Customs, which encouraged importers to voluntarily provide comprehensive product descriptions and additional parameters for imported goods. The intent was to minimize queries and optimize assessment efficiency. […]
IBC requires the prioritized payment of Insolvency Resolution Process and Liquidation costs. Under the IBC, these costs must be given precedence when distributing funds during insolvency proceedings.
Cancelling your SRN (Service Request Number) can be a crucial step when dealing with unsuccessful eform payments. However, knowing when and how to cancel your SRN is essential. This guide will provide you with a detailed understanding of the specific conditions under which you should cancel your SRN and provide a step-by-step guide on how […]
NIC introduced new features in e-Waybill system, including option for transporters to de-register themselves and cancel common enrollment. Additionally, a two-factor authentication (2FA) system has been implemented to enhance login security
The Income Tax Department has issued a notice informing all Statement of Financial Transaction (SFT) filers about the challenges faced during the filing process due to heavy traffic on the reporting portal. To ensure a smooth experience for all filers, the department has extended the filing period for SFT returns. Additionally, a dedicated helpdesk has […]
DGFT introduced online facility for exporters to request appointments for virtual meetings or personal hearings. This initiative aims to provide proactive support and assistance to exporters and enhance trade facilitation. Exporters can apply for the virtual meeting facility through the DGFT website, and the concerned officers at DGFT Regional Authorities will provide suitable timings and […]
In Hira Lal Kadlabju vs. ACIT, ITAT Amritsar remits the case back to the assessing officer as the ownership of seized cash remains undecided pending High Court determination.
CBDT issued Notification No. 33/2023-Income Tax on May 29, 2023. This notification introduces the e-Appeals Scheme, 2023 under the provisions of the Income-tax Act, 1961. The key points of the scheme are as follows: 1. The scheme is called the e-Appeals Scheme, 2023 and it comes into force from the date of its publication in […]
