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Challenges faced by trade w.r.t monitoring of BLUT & requirement for additional BLUT

February 15, 2023 1104 Views 0 comment Print

No. K.43013(18)/2/2022-SEZ Government of India Ministry of Commerce & Industry Department of Commerce (SEZ Division) Vanijya Bhavan, New Delhi Dated the 15th February, 2023 To The Development Commissioner All SEZs Subject: Challenges faced by trade w.r.t monitoring of BLUT and requirement for additional BLUT —reg. Sir, I am directed to refer to representations received from […]

Introduction of Issue Summary Document & dissemination of issue advertisements

February 15, 2023 2772 Views 0 comment Print

ISD shall be filed in two stages: i. In the first stage, ISD will be filed containing pre-issue / offer fields. ii. In the second stage, ISD will be filed containing post-issue / offer fields after allotment/offer is completed / as applicable for respective ISD.

CBDT notifies Income Tax Return Forms for AY 2023-24 well in advance

February 15, 2023 3234 Views 0 comment Print

CBDT notified Income-tax Return Forms (ITR Forms) for Assessment Year 2023-24 vide Notifications No. 04 & 05 of 2023 dated 10.02.2023 and 14.02.2023.

Customs field formations and DRI keep constant vigil to deter smuggling of gold and drugs

February 15, 2023 1923 Views 0 comment Print

The Directorate of Revenue Intelligence (DRI) celebrated its 65th Founding Day on 5th December 2022 in an Inaugural Function held in New Delhi. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Lok Sabha today. The Minister stated that the inaugural function was followed by […]

Measures taken for increasing access to credit and finance for MSME

February 15, 2023 1332 Views 0 comment Print

ECLGS) was launched in May, 2020 as part of Aatmanirbhar Bharat Abhiyaan to support eligible Micro, Small and Medium Enterprises (MSMEs) and business enterprises in meeting their operational liabilities and restarting their businesses in the context of the disruption caused by the COVID-19 pandemic.

HC allows manual application for Claim for Refund of Eligible excess ITC

February 15, 2023 1833 Views 0 comment Print

Tvl. Ramana Textiles Private Limited Vs Commissioner of State GST and Commercial Taxes (Madras High Court) The present Writ Petition has been filed seeking for a writ of Mandamus to direct the respondents to refund the eligible excess ITC amount for the month of January to March 2018, based on the petitioner’s application dated 13.02.2019 […]

Income Tax: Order directing Section 142(2A) special audit must be communicated to Assessee: SC

February 15, 2023 3870 Views 0 comment Print

SC held that order directing special audit under Section 142(2A)  of Income Tax Act, 1961 is required to be communicated to appellant-assessee, so as to know the reasons, and, if required, the assessee can choose to exercise the option to challenge the order. 

ICFAI entitled to Service Tax exemption on its educational programmes

February 15, 2023 1404 Views 0 comment Print

An investigation was conducted upon ICFAI and its associates all over India, which resulted into issuance of multiple show cause notices proposing the demand of service tax along with applicable cess, interest and penalty, for the period of October 2007 to September 2009.

ITAT upheld Share Premium addition – 95% of such appeals are filed by Shell Companies

February 15, 2023 1119 Views 0 comment Print

Arham Packaging Goods Pvt. Vs I.T.O. (ITAT Kolkata) Normally, we do not hesitate in adjourning the matters on the request of assessees but we find that it is a case of share application and share premium. There are large number of appeals pending on this issue before the Tribunal and out of them, 95% are […]

Anti-dumping Duty cannot be demanded on the basis of expired notification

February 15, 2023 1485 Views 0 comment Print

Once a notification enforcing anti-dumping duty is expired and non-existent, such non-existent notification cannot be extended.

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