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Weekly newsletter from Chairman, CBIC dated 13.09.2021

September 13, 2021 747 Views 0 comment Print

During the week, there have been some good cases on the anti-smuggling front. In a crackdown on smuggling of cigarettes, Delhi Customs Preventive Unit seized about 22.2 lakh sticks of smuggled foreign brand cigarettes approximately valued at Rs. 4.44 crore.

IRDAI extends exemption from physical proposal form & wet signature till 31.03.2022

September 13, 2021 801 Views 0 comment Print

The exemptions granted for issuance of electronic policies as well as dispensing with physical document and wet signature have been extended upto the period 31/03/2022.

Application for Aadhaar e-KYC Authentication Licence

September 13, 2021 1407 Views 0 comment Print

A detailed procedure for processing of applications under the aforementioned Section for use of Aadhar authentication services by entities other than banking companies has been provided by the Department of Revenue, Ministry of Finance vide their circular dated May 9, 2019.

MCA Imposes Penalty for Non-Compliance with Section 118(10) & SS-2

September 8, 2021 453 Views 0 comment Print

Discover the case of M/S FERANBRAJ TOLL AND HIGHWAY PRIVATE LIMITED penalized for non-compliance with Companies Act Section 118(10). Analysis of the penalty imposition and its implications.

36 officers promoted to the Grade of CCIT

August 31, 2021 5628 Views 0 comment Print

Office Order No. 226 of 2021 Consequent upon approval of the Competent Authority, the following officers are, hereby, promoted to the grade of Chief Commissioner of Income Tax (CCIT) (level 16 in the pay matrix Rs. 2,05,400-2,24,400/-) for the panel year 2021 on in-situ basis with immediate effect or w.e.f. the date of assumption of charge of the post by them, whichever is later:

New Cut-off date for conversion from Earlier Scheme for CA Students

August 27, 2021 5802 Views 0 comment Print

Students who have not yet converted themselves from Earlier Scheme to Revised Scheme of Education and Training implemented w.e.f. 1st July, 2017, to appear in Foundation, Intermediate and Final Examinations being held under Revised Scheme in December, 2021 may convert themselves latest by 30th September, 2021.

Clarification on extension of limitation under GST Law in terms of SC Order

August 25, 2021 1953 Views 0 comment Print

Government has issued notifications under Section 168A of the Goa GST Act, 2017, wherein the time limit for completion of various actions, by any authority or by any person, under the Goa GST Act, which falls during the specified period, has been extended up to a specific date, subject to some exceptions as specified in the said notifications.

Depreciation not allowable on non-compete fee

August 23, 2021 3129 Views 0 comment Print

Fortis Hospitals LTD. Vs ACIT (Delhi High Court) The appellant had entered into a Business Transfer Agreement with Wockhardt Hospitals Ltd. on 24.08 .2009, for acquiring a business division of Wockhardt Hospitals Ltd. consisting of ten hospitals situated in the cities of Bangalore, Kolkata and geographical limits of Eastern Mumbai. The appellant claims to have […]

SEBI notifies Penalty for Repeated Delivery Default

August 17, 2021 336 Views 0 comment Print

It is felt that there is a need to put in place a suitable deterrent mechanism to address instances of repeated delivery defaults. This is expected to further strengthen the delivery mechanism and ensure market integrity.

IGST on importation of tank containers lease services into India

August 17, 2021 2823 Views 0 comment Print

In re Deccan Transco Leasing Private Limited (GST AAR Telangana) Is GST liable to be paid on leasing of tank containers taken form a supplier i e., lessor who is located outside India and the tank containers do not reach India? As it is finance lease, it is supply of goods and tank containers do […]

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