The following condition mentioned below the SIONs E-121, E-122, E-123, E-124, E-127 and E-128 stands deleted: First export will take place and import will be allowed only after grant of EODC as per conditions number 2&3 mentioned in the Policy Circular No. 13 dated 26.09.2005.
What is the maximum amount that a single market participant can bid in LTROs? A market participant can place bids of amount less than or equal to the notified amount. RBI may reject all the bids of the participant if the total bid amount submitted by the participant exceeds the notified amount.
In the recent past years, it has been observed that some brokers have misused clients’ securities received as collateral to meet their own settlement obligation or obligations of other clients. Some brokers have also misused clients’ securities by pledging them with the banks and NBFCs to raise funds for their own use.
The question before us is, whether the receipts derived from leasing out of the cinema hall, along with furniture & fixtures, plant & machineries and other amenities, was ‘business income’ as contended by the assessee or ‘income from other sources’ as treated by the Department.
CBDT designates Courts of Chief Judicial Magistrates (CJM) of the Union Territory of Jammu and Kashmir (UT of J&K) as Special Courts for the purposes of section 280A of the Income tax Act, 1961 and section 84 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 within their respective […]
In respect of the proposals emanating from the field formations of Customs [including Directorates, except DRI & DGGSTI], the Commissioner (Investigation-Customs) and the Commissioner (GST-Investigation), shall respectively process the proposals pertaining to prosecution of Group ‘A’ officers through the Member in charge of the Zone forwarding the prosecution proposal.
Since the facility to upload the LPCOs is now being fully made available to these 3 new PGAs, therefore, the beneficiaries i.e. importer/exporters/customs brokers would not be allowed to upload the previously issued LPCOs on eSANCHIT w.e.f 28.02.2020
In re M/s. Rich Dairy Products (India) Pvt Ltd (GST AAAR Tamil Nadu) AAAR upheld the order of AAR and held that The products ‘Richyaa Darner Lemon’ and ‘Licta Lemon’ to be supplied by the applicant are classifiable under CTH 22021020 and all others i.e. ‘Richyaa Darner Cola’, ‘Licta Cola’, ‘Richyaa Darner Jeera Soda’, ‘Licta […]
The Notification No. 44 dated 31.01.2020 is amended to the extent that the items such as Surgical Masks/Disposable Masks (2/3 Ply) and all Gloves except NBR Gloves are allowed freely for export. However, export of all other Personal Protection Equipment including N-95 and other Personal Protection Equipment accompanying Masks and Gloves not specified in the […]
Budget 2020- Exemption in respect of certain income of Indian Strategic Petroleum Reserves Limited (ISPRL) Section 10 of the Act provides for exemption in respect of certain incomes and activities under specific circumstances. Clause (48A) thereof, inserted by the Finance Act, 2016, provides that any income accruing or arising to a foreign company on account […]
