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CBI arrests two EPFO officials in a bribery case of Rs. 8 lakh

August 16, 2020 1212 Views 0 comment Print

CBI has arrested an Accounts Officer and an Enforcement officer, both working in EPFO, Noida (Uttar Pradesh) for demanding & accepting bribe of Rs.Eight Lakh from the complainant.

ICSI Request for extension of due dates of Company Law compliances

August 14, 2020 10761 Views 0 comment Print

REQUEST FOR EXTENSION OF DUE DATES OF COMPLIANCES UNDER THE COMPANIES ACT, 2013 DUE TO COVID-19- As you are aware that COVID-19 pandemic has affected the entire world including India. Many offices have been closed, while others are not fully operational

Key Highlights of Platform for `Transparent Taxation ‑ Honouring the Honest’

August 14, 2020 4557 Views 1 comment Print

MAXIMUM GOVERNANCE WITH MINIMUM GOVERNMENT PM Modi Launches Platform for `Transparent Taxation ‑ Honouring the Honest’ KEY HIGHLIGHTS  Tax system aims to be Seamless, Painless and Faceless: PM The platform has major reforms like Faceless Assessment, Faceless Appeal & Taxpayers Charter Faceless Assessment & Taxpayers Charter have come into force from today while the facility […]

Faceless Assessment Appeal & New Changes in Income Tax

August 14, 2020 7689 Views 0 comment Print

FACELESS ASSESSMENT AND APPEAL OBJECTIVES Imparting greater efficiency, transparency and accountability Eliminating physical interface between the taxpayer and tax officers FEATURES Selection only through system using data analytics and AI Dynamic Jurisdiction — abolition of territorial jurisdiction Automated random allocation of cases. Central issuance of notices with Document Identification No. (DIN) No physical interface, No […]

India’s Foreign Trade: July 2020

August 14, 2020 2931 Views 0 comment Print

India’s overall exports (Merchandise and Services combined) in April-July 2020-21* are estimated to be USD 141.82 billion, exhibiting a negative growth of (-)21.99per cent over the same period last year. Overall imports in April-July 2020-21* are estimated to be USD 127.76 billion, exhibiting a negative growth of (-) 40.66per cent over the same period last year.

Refund of IGST on Export | Invoice mis-match Cases | Alternative Mechanism

August 14, 2020 4710 Views 0 comment Print

Attention of all the exporters and CBs are invited to CBIC Circular No. 5/2018-Customs dated 23.02.2018 and Circular No. 22/2020-Customs dated 21.04.2020 regarding alternative mechanism for the process of IGST refund in invoice mismatch cases.

Analysis of SC judgment in the case of Babulal Vardharji Gurjar

August 14, 2020 4431 Views 0 comment Print

Babulal Vardharji Gurjar Vs Veer Gurjar Aluminium Industries Pvt. Ltd. & anr. (Supreme Court) While setting aside the Order dated 14th May, 2019 of the NCLAT in Company Appeal (AT) Insolvency No. 549 of 2018 and Order dated 9th August, 2018 of the National Company Law Tribunal, Mumbai Bench in CP(IB)-488/I&BP/MB/2018, on the ground that […]

RBI revises guidelines applicable for Core Investment Companies

August 13, 2020 3165 Views 0 comment Print

Based on the recommendations of the WG and inputs received from stakeholders, it has been decided to revise the guidelines applicable for Core Investment Companies.

Tariff Notification No. 71/2020-Customs (N.T.), Dated: 13.08.2020

August 13, 2020 1038 Views 0 comment Print

Tariff Notification No. 71/2020-Cutoms (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 71/2020-CUSTOMS (N.T.) New Delhi, 13th August, 2020 22 Shravana, 1942 (SAKA) S.O. 2753(E).– […]

Brief note on e-Invoice under GST

August 13, 2020 31863 Views 0 comment Print

E-Invoice System (https://einvoice1.gst.gov. in) Welcome to the tax payers of GST to the e-invoice system. As per the GST Council direction, National Informatics Centre (NIC) has built the e-invoice system as per the latest e-invoice (IRN) schema published on the GSTN portal. As per the notification of GST (Notfn No. 61 dtd: 30th July, 2020), […]

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