Banks and other stakeholders have been seeking clarity on provision of credit facilities to InvITs. The matter has been examined and it has been decided that banks may be permitted to lend to InvITs subject to the following conditions:
Emmsons International Ltd. Vs ACIT (ITAT Delhi) Exchange differences on foreign currency transactions in compliance of AS-11 need be considered in the accounts and the losses and profit arising therefrom need to be recognized as such for Income Tax purposes. It is further held that when the Revenue taxed the gains which accrued to the […]
The Director, Deputy Director and other officers of ‘Directorate of Enforcement’ are prohibited from attachment of any property of the ‘Corporate Debtor’ (Bhushan Power and Steel Limited) without prior approval of this Appellate Tribunal. The property already attached by them be released in favour of the ‘Resolution Professional’ immediately.
CBIC hereby appoints Dr. Puneeta Bedi, Joint Commissioner of Central Tax, Chandigarh Zone as as GST Authority for Advance Ruling for Union territory -Chandigarh vide Notification No. 05/2019-Union territory Tax dated – 14th October, 2019. MINISTRY OF FINANCE (Department of Revenue) Notification No. 05/2019-Union territory Tax New Delhi, the 14th October, 2019 G.S.R. 781(E).— In […]
Verification from the PAO/e-PAO office regarding double/multiple payments for the same Bill of Entry of the amount to be refunded as also being reported by the banks in the scroll for transfer to RBI;
Discover the income tax deductions available for A.Y. 2020-21/ FY 2019-20. Learn about deductions for salaries, house properties, business/profession, capital gains, and more.
The advisory explains various processes and functionality for backend handling of refund claims by CBIC officers in the Refund module in the system. It is suggested that the proper officer in your zone may be sensitized to go through the advisory and appropriately handle the refund applications being filed online w.e.f. 26.09.2019.
Import Policy for Urea for industrial or non-agricultural use, besides Technical Grade Urea (TGU) and Industrial Urea shall be ‘free’ with immediate effect and M/s Rashtriya Chemicals & Fertilizers (RCF) is designated as STE for import of Urea on Government account.
In this case despite the fact that the petitioner had complied with the procedure for movement of goods as stipulated under the GST Acts, by the impugned order, the truck with the goods came to be detained/seized under section 129 of the GST Acts on the ground that the transport receipt was a photocopy and the details filled in the transport receipt were handwritten.
Following is the Exposure Draft of Interest Rate Benchmark Reform (Amendments to Ind AS 109 and Ind AS 107), issued by the Accounting Standards Board (the Board) of the Institute of Chartered Accountants of India, for comments.
