DGFT hereby deletes MEIS benefit on flour, meal and powder of Guar Seeds of heading ITC(HS) 0713. Existing product description of the export item at Sl. No. 472 of Appendix 3B of MEIS schedule is amended as below with immediate effect:
At present, Re 1/- revenue stamp has to be affixed on claim forms by members for settlement of claims. The issue of continued practice of affixing of Re 1/- Revenue Stamp on claim forms has been examined in consultation with the Ministry of Law & It has been advised that while making payments through National Electronic Funds Transfer (NEFT), no revenue stamp would be required to be affixed on submission of claim forms by the members.
Anti Profiteering Measure (APM) is governed by section 163 of revised model GST law. As per section 163, every registered person is required to pass on the complete benefit accruing on account of additional input tax credit or reduced tax rate to the next level of supply chain.
Recently, members are raising concerns regarding the problem faced by them in resolving the grievances in respect of Communication/ Order/ Notices received by the assessees from Centralised Processing Centre (CPC) Bengaluru.
The Constitution contemplates various scenarios in which a Governor can exercise his discretion dehors the aid and advice of the Council of Ministers, as for example, the powers under Article 174(2): dissolution of legislative assembly; Article 356: advising the President for proclamation of emergency; Article 167: calling for information from the Chief Minister etc, Article […]
With a view to concentrate all efforts towards the objective of achieving the budget target, you are requested to personally review and monitor the position of collections through advance tax, TDS and recovery from arrear and current demand of your Region on a weekly basis. I have separately written D.O. letters on stepping up efforts for recovery from arrear demand, collection out of current demand and collection from TDS, which may be followed scrupulously by all officers engaged in the work of assessment and collection.
It is a fairly settled law that forfeiture of share application money which has been duly received by the appellant in terms of prospect and credited to capital reserve account was a capital receipt.
Amount withdrawn from General Reserve on account of reinstatement of employees benefit obligation is allowable while computing Book Profit u/ s 115JB as same is an obligation of the assessee as an employer and is an ascertained liability.
Assessee pointed out that the property in question was intended to be purchased for the purpose of constructing office premises and was directly related to the business of the assessee and therefore the deduction claimed should be allowed. As in the present case the Assessee did not acquire any capital asset and merely paid advance […]
Retention money is not in the nature of income till such time the contractual obligations are fully performed to the satisfaction of the customer by the Assessee. Therefore the retention money cannot be regarded as income even for the purpose of book profits u/s.115JB of the Act though credited in the profit and loss account […]
