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Termination of Anti-Dumping Investigation on imports of Mono Ethylene Glycol

November 20, 2020 597 Views 0 comment Print

Termination Case No. (O.I.) 21/2019- Termination of Anti-Dumping Investigation concerning imports of Mono Ethylene Glycol originating in or exported from Kuwait, Oman, Singapore and UAE.

No GST exemption on services related to imported agriculture products after cargo reaches Port

November 18, 2020 2418 Views 0 comment Print

In re Karaikal Port Private Limited (GST AAR Puducherry) Whether  exemption provided in Sl. No.54(e) under Heading 9986 of GST Notification No. 12/2017-Central Tax (Rate) dt.28.06.2017 applies while rendering services such as loading, unloading, packing, storage or warehousing of imported agriculture products including wheat, to any importer or trader? The services of loading, unloading, packing, […]

PP non-woven bags classifiable under HSN code 39232990

November 18, 2020 27054 Views 0 comment Print

In re Texbond Non-wovens (GST AAR Puducherry) Whether PP non-woven bags will be classified under HSN Code 63059000 or HSN 39232990? The item ‘Polypropylene Non-woven Bags’ has to be classified under HSN code 39232990 and not to be classified under HSN code 63059000 and to be taxed at 18% not at 5%. FULL TEXT OF […]

Income Tax relief for Real-estate Developers and Home Buyers

November 13, 2020 5082 Views 1 comment Print

In order to boost demand in the real-estate sector and to enable the real-estate developers to liquidate their unsold inventory at a rate substantially lower than the circle rate and giving benefit to the home buyers, it has been decided to further increase the safe harbour from 10% to 20% under section 43CA of the Act for the period from 12th November, 2020 to 30th June, 2021 in respect of only primary sale of residential units of value up to Rs. 2 crore.

Finance Ministry seeks Suggestions for Annual Budget 2021-22

November 13, 2020 612 Views 2 comments Print

Over the years, the Ministry of Finance has been holding pre-budget consultations in North Block with Industry/Commerce Associations, Trade Bodies and Experts to seek ideas for the Annual Budget. Owing to the pandemic situation, the Ministry has received suggestions from various quarters for holding pre-budget consultations in a different format.

SOP for Grievance Redressal Mechanism for Complaints related to CRC

November 13, 2020 1017 Views 0 comment Print

Stakeholder/professionals can raise a complaint on MCA website through link http://www.mca.gov.in/mcafoportal/userComplaintDetails.do A complaint number (ticket number) would be issued to the complainant and it would be resolved within 3 working days.

SEBI prescribes uniform fines for non-compliance with continuous disclosure requirements

November 13, 2020 7986 Views 0 comment Print

In order to ensure effective enforcement of continuous disclosure obligations by issuers of listed Non-Convertible Debt Securities or NCRPS or Commercial Papers, it has been decided to lay down a similar uniform structure for imposing fines for non-compliance with continuous disclosure requirements after discussion with market participants.

Type-3 test by ‘NCS Pearson Inc’ classifiable as OIDAR service: AAAR

November 13, 2020 2658 Views 0 comment Print

The Appellate Authority hold that service provided for the Type-3 test is classifiable as an OIDAR service. The appeal filed by the Department is disposed off on the above terms.

Auto-population of e-invoice details into GSTR-1

November 13, 2020 3165 Views 0 comment Print

1. Certain notified taxpayers have to prepare and issue their invoices by obtaining Invoice Reference Number (IRN) from Invoice Registration Portal (IRP) (commonly referred as ‘e-invoices’). 2. Upon successful generation of IRN, details of such e-invoices will be auto-populated in respective tables of GSTR-1. The details of e-invoices available for auto-population along with status of […]

Migration of AA/EPCG/DFIA Online modules to new IT environment

November 12, 2020 942 Views 0 comment Print

Trade Notice No. 35/2020-21 Migration of AA/EPCG/DFIA Online modules to the new IT environment from 1st December 2020 and non-availability of licence amendment services from 20th November 2020 to 30th November 2020 -reg

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