The Finance Bill 2017 proposes to insert sub-section (5) in existing section 23 to provide that where the house property consisting of any building and land appurtenant thereto is held as stock-in-trade and the property or any part of the property is not let during the whole or any part of the previous year
Only such expenditure for acquisition of asset may be disallowed which has been incurred in cash and accordingly, depreciation under section 32 may be permitted for balance portion expended in non-cash mode.
Insofar as requirement of registration with department as a condition precedent for claiming Cenvat credit is concerned, there is no provision in Cenvat Credit Rules which impose such restriction.
It has been decided that obtaining of aadhaar should be mandatory for the time being only for pension (10D) claims) and not in withdrawal cases (Form 10C).
Deendayal Antyodaya Yojana-National Rural Livelihoods Mission involves expenditure incurred from the Consolidated Fund of India; An individual who is a member of a Self Help Group or otherwise receives remuneration as a community cadre under DAY-NRLM, shall furnish proof of possession of Aadhaar or undergo Aadhaar authentication.
By section 254(4) of the IT Act, an order which has been passed by the Tribunal reaches finality the moment the same is passed: it cannot be touched thereafter. By section 254(2) of the act, the Tribunal, however, has been authorized to rectify mistakes in its orders, which are apparent on the face of the records.
CBEC decided that for exports with LEO dates 12.08.2012 onwards till 31.03.2014, DGFT’s e-BRC would be accepted, except in case of specific intelligence or information of misuse. This shall be subject to appropriate declaration by the exporter on back of DGFT e-BRC. Format of the said declaration is annexed herewith.
It has been decided by the Board that those exporters who have been accorded Authorized Economic Operator (AEO) certificate (Tier II & Tier III) in terms of Circular No. 33/2016- Customs dated 22.07.2016 are being exempt from the requirements of drawl of samples for the purpose of grant of drawback, except in case of any specific information or intelligence.
Tariff Notification Notification No. 13/2017-Customs (N.T.), Dated: 28.02.2017 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver – Reg
The Central Govt. proposes to consider the following amendments to the Customs Valuation (Determination of Price of Imported Goods) Rules, 2007
