Section 46 would facilitate pre-arrival processing and assessment of Bills of Entry (BE) by mandating their advance filing thus leading to significant decrease in the Customs clearance time.
Commissioner of Commercial Taxes & Anr. Vs Ramco Cements Ltd.Etc. (Supreme Court of India) 1. It is held that the respondents are liable to issue `C’ Forms in respect of the natural gas purchased by the petitioner from the Oil Companies in Gujarat and used in the generation or distribution of electricity at its power […]
Toyota Kirloskar Motor (P) Ltd. Vs ITO (Karnataka High Court) The Supreme Court in SHOORJI VALLABH DAS supra has held that income tax is a levy on income and the Act takes into account two points of time at which the liability to tax is attracted i.e., accrual of income or its receipt but substance […]
ACIT Vs Gajalaxmi Steel Pvt. Ltd. (ITAT Pune) There is no dispute on the fact that the Assessing Officer made addition based on the estimation with reference to the consumption of electricity. the Assessing Officer had made the addition of Rs 7,65,23,877 on the basis of wrong presumption/ assumptions. I find it quite baffling that […]
The Rajya Sabha has approved the Medical Termination of Pregnancy (Amendment) Bill, 2021 to amend the Medical Termination of Pregnancy Act, 1971 on 16th March 2021. The Bill was approved in Lok Sabha on 17th March 2020. Salient features of amendments: Enhancing the upper gestation limit from 20 to 24 weeks for special categories of […]
With the increasing compliances, there grows the need for a safe and sound system and ERP software which can automatically take care of the future notices, audit and other queries. With Increasing GST Compliances and new technological changes, now there arises the need to minimize the financial stress and mental stress by increasing the use […]
The Commerce Ministry has issued guidelines for Startup India Seed Fund Scheme (SISFS) 1. The Seed Fund will be disbursed to eligible startups through eligible incubators across India. 2. Criteria: a. A startup,recognized by DPIIT, incorporated not more than 2 years ago at the time of application. b. The startup must have a business idea […]
JAP Modular Furniture Concepts Pvt. Ltd. Vs. State Of Gujarat (Gujarat High Court) In this case provisional GST registration of the writ applicants under the GST Act was also blocked / inactivated and final registration was not granted to the writ applicants under the GST Act on account of cancellation of registration under Vat. The […]
Jai Maa Jwalamukhi Iron Scrap Supplier Vs State of U.P. (Allahabad High Court) 1. When the respondents have not denied the issuance of the invoice and the e-way bills uploaded against subject transactions it has to be assumed that the invoice and the e-way bills had been issued. 2. Once the respondent admits that the […]
Hon’ble Apex Court has ruled that the Additional Director General (ADG) of Directorate of Revenue Intelligence (DRI) is not the proper officer to issue Show Cause Notice (SCN) under sub-section (4) of section 28 of the Customs Act, 1962.
