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DGFT simplifies Composition Fee for Export Obligation Extension under Advance Authorization Scheme

January 18, 2023 3174 Views 0 comment Print

Directorate General of Foreign Trade (DGFT) simplifies Composition Fee for Export Obligation Extension under Advance Authorization Scheme in a Move to boost trade facilitation and ease of doing business The Directorate General of Foreign Trade (DGFT) has notified the amended rules for calculation of Composition Fee for extending Export Obligation under Advance Authorization Scheme by […]

Penalty under Rule 96 ZP of Central Excise Rules not sustainable as SC struck down Rule

January 18, 2023 1107 Views 0 comment Print

HC held that as SC having struck down Rule 96 ZP of Central Excise Rules in toto, the question of sustaining penalty imposed thereunder against Appellant does not arise.

UPVAT: HC deletes penalty for discrepancy in truck number due to break down

January 18, 2023 645 Views 0 comment Print

Commissioner Commercial Tax Vs S.C. Jhonson Products Pvt. Ltd. (Allahabad High Court) HC find that the Tribunal has recorded a categorical findings of fact to the extent that the error, which has been occurred in Column 6 of Form 38 in not writing the date is a human error and the discrepancy in the truck […]

Detention Order in Form GST MOV-06 passed after stipulated time is barred by limitation

January 18, 2023 5073 Views 0 comment Print

Detention order u/s.129(3) of GST Act is passed on eighth day from date of service of notice, whereas time line stipulated under Section 129(3) is that the order ought to be passed within a period of 7 days from the date of service of such notice

MCA imposes penalty for submitting resolutions without mentioning address, CIN etc.

January 18, 2023 12435 Views 0 comment Print

Penalty is been imposed for Non mentioning of registered office address of the company, Corporate Identity Number, telephone number, fax number, e- mail and website address.

Advisory on declaration of mandatory information on outer retail package

January 18, 2023 1938 Views 0 comment Print

It is mandatory that all the necessary declarations shall also be made on all retail packages inside a group/ combination / multi-piece / gift package

Income from Restaurant Business can be declared on Presumptive Basis – Section 44AD

January 18, 2023 10560 Views 0 comment Print

Hotel Deepak Vs ACIT (ITAT Mumbai) The brief facts are that the assessee firm is engaged in the restaurant business. Pursuant to the survey action u/s.133A of the Act conducted in the business premises of the assessee dated 22.01.2018, the partner of the assessee firm Shri Chandrakant Ramanna Shetty made a voluntary declaration of Rs.26,27,872/- […]

SEBI (Settlement Proceedings) (Amendment) Regulations, 2023

January 17, 2023 1608 Views 0 comment Print

These regulations may be called the Securities and Exchange Board of India (Settlement Proceedings) (Amendment) Regulations, 2023.

SEBI (Change In Control In Intermediaries) (Amendment) Regulations, 2023

January 17, 2023 3219 Views 0 comment Print

These regulations may be called the Securities and Exchange Board of India (Change in Control in Intermediaries) (Amendment) Regulations, 2023.

Penalty imposed on company for carrying business activities on a fraudulent & unlawful purpose

January 17, 2023 2124 Views 0 comment Print

Office of the Commissioner of CGST (Audit) vide letter dated 10.10.2022 has informed that M/s Aegis LifeSciences Pvt. Limited having GSTN 24AARCA8892L1ZS and Adgis Lifescience, Partnership concern having GSTIN 24AARCA8892L1ZS are still operating /running both partnership firm as well as Pvt. Limited Company under GST even after the change in constitution of the business at […]

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