M/s. Tongani Tea Co. Limited Vs JCIT (ITAT Kolkata) Rule 27 of Income Tax (Appellate Tribunal) Rules can be invoked only to support the order appealed against on any of the grounds decided against the respondent Conclusion – The scope of rule 27 of the Income Tax (Appellate Tribunal) Rules, 1963 is limited only to support […]
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance
Seeks to further amend notification No. 50/2017-Customs so as to reduce BCD from 10% to 5% on Opencell (15.6” and above) of LCD/LED TV panels.
Seeks to notify provisional assessment for imports of Jute Products namely, Jute Yarn/Twine (multiple folded/cabled and single), Hessian fabric, and Jute sacking bags exported by M/s. Natural Jute Mill [Bangladesh] and M/s Kreation Global, LLC,USA [Bangladesh] .
The Payment of Gratuity (Amendment) Bill, 2018 has been passed by parliament today. The bill ensures harmony amongst employees in the private sector and Public Sector Undertakings/Autonomous Organizations under Government who are not covered under CCS (Pension) Rules. These employees will be entitled to receive higher amount of gratuity at par with their counterparts in […]
All kinds of representations received from the trade and industry (including start-ups) regarding GST rates on services have been deliberated in the Fitment Committee. Government has exempted various kinds of services in relation to skill development. Decision pertaining to rates of GST and exemption on skill development, start-ups and tourism are taken after due deliberation […]
Cabinet approves revision of the Agreement between India and Qatar for the avoidance of double taxationand for the prevention of fiscal evasion with respect to taxes on income The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval for revision of the Agreement betweenIndia and Qatar for the avoidance of double […]
Linking of SWIFT to the Core Banking System Department of Economic Affairs has apprised that in pursuance to the announcement made in the Budget Speech 2018-19 (para75), a Steering Committee on Fintech related issues was constituted to consider various issues relating to development of Fintech space in India with a view to make Fintech related […]
The North Eastern and Hilly States have not been provided exemption from tax refund till March, 2027 under GST. The GST Council in the meeting held on 30.09.2016, had decided that all entities exempted from payment of indirect tax under the then existing tax incentive scheme shall pay tax in the GST regime. It was […]
Government has received various representations from Association of Exporters as well as Corporate Bodies seeking clarity on e-way bill regarding movement of goods from dry-ports to sea ports and from SEZs within the zone. Some of the queries regarding applicability of e-way bill provisions are as below: Exemption for export consignments during custom bonded movement […]
