GST on delayed payment charges in case of late payment of Equated Monthly Instalments (EMI). An EMI is a fixed amount paid by a borrower to a lender at a specified date every calendar month. In cases where the EMI is not paid at the scheduled time, there is a levy of additional / penal […]
The introduction of Goods and Services Tax (GST) would be a very significant step in the field of indirect tax reforms in India. By amalgamating a large number of Central and State taxes into a single tax, it would mitigate cascading or double taxation in a major way and pave the way for a common national market. From the consumer point of view, the biggest advantage would be in terms of a reduction in the overall tax burden on goods, which is currently estimated to be around 25%-30%.
Tariff Notification No. 47/2019-CUSTOMS (N.T.) dated 28th June, 2019 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 47/2019-CUSTOMS (N.T.) New Delhi, 28th June, 2019 7 Ashadha, […]
Paragraph 5.7.1 of Ind AS 109 requires a gain or loss on a financial asset that is measured at fair value to be recognised in profit or loss – though there are some exceptions to this general requirement, these are not applicable in the case under discussion.
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2019 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 27th June, 2019 SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) (THIRD AMENDMENT) REGULATIONS, 2019 No. SEBI/LAD-NRO/GN/2019/22.—In exercise of the powers conferred by section 11, sub-section (2) of […]
Appointment of Common Adjudicating Authority by Pr. DGRI vide Notification No. 27/2019-Customs (N.T./CAA/DRI) dated 27th June, 2019. Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Directorate of Revenue Intelligence Notification No. 27/2019-Customs (N.T./CAA/DRI) New Delhi, dated the 27th June, 2019 S.O. 2190(E). – In pursuance of notification […]
A BILL to provide for settlement of arrears of tax, interest, penalty or late fee which were levied, payable or imposed, respectively under various Acts administered by the Goods and Services Tax Department and for the matters connected therewith or incidental thereto.
Shri C. P. Rao Vs M/s Unicharm India Pvt. Ltd. (NAA) It is revealed that the Central Govt. vide Notification No.19/2018-Central Tax (Rate) dated 26.07.2018 the Government had reduced the rate of GST from 12% to NIL without ITC in respect of Sanitary Napkins with effect from 27.07.2018, the benefit of which was required to […]
Import policy of seeds of Peas is amended from ‘Restricted’ to ‘Free’ subject to phytosanitary import conditions as per Plant Quarantine (Regulation of Imports into India), Order 2003. Policy condition 4 to Chapter 12 of ITC (HS), 2017, Schedule — I (Import Policy) is hereby deleted.
In re M/s. National Institute of Bank Management (GST AAR Maharashtra) Question 1:-Whether consideration paid as subscription or contribution towards recurring or capital expenses or reimbursement or by whatever name called to National Institute of Bank Management (NIBM); a society registered under Societies Registration Act, 1860 by its members (being Banks) for its recurring and […]
