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Weekly newsletter from Chairman, CBIC dated 29/03/2023

March 29, 2023 591 Views 0 comment Print

On the anti-smuggling side, the week gone by saw officers of Chennai Airport Customs, interdict two arriving passengers who were attempting to smuggle a De Braza Monkey, a Mantled Guereza and two Spider Monkeys. The animals were rescued and deported back to their originating country. Congratulations to the officers for an excellent detection.

The Pros and Cons of Investing in Fixed Deposits

March 29, 2023 3672 Views 0 comment Print

Are you looking for an investment option to increase your savings fast? A Fixed Deposit can be an ideal choice. Before you invest in a Fixed Deposit, learn everything about its advantages and disadvantages. 

GST rate on services by sub-sub-contractor to sub-contractor pertaining to irrigation, construction

March 29, 2023 23832 Views 0 comment Print

In re Shreeji Earth Movers (GST AAAR Gujarat) a) At what rate of tax the liability should be determined on services provided by appellant (sub-contractors) to the main contractor pertaining to the irrigation, construction and maintenance works to the irrigation department, State of Gujarat? b) Under which head we should classify our services to execute […]

MCA imposes penalty on CA for Non-reporting of violations in audit report

March 29, 2023 39477 Views 0 comment Print

Section 143(3)(d) of Companies Act, 2013 states that ‘the auditors report shall state whether, the company’s balance sheet and profit and loss account dealt with in the report are in agreement with the books of account and returns’. It is apparent from the financial statements for the financial year ended 31.03.2021 Interest Accrued” on Secured […]

Registrar of Companies removed or strike off names of 454 Companies

March 29, 2023 1812 Views 0 comment Print

Registrar of Companies removed or strike off the names of 454 Companies as per annexure on this day of 29-03-2023 from Register of Companies

Mandatory electronic filing date of Non-Preferential CoO extended to 31.12.2023

March 28, 2023 1068 Views 0 comment Print

Transition period for mandatory filing of applications for Non-Preferential Certificate of Origin through e-CoO Platform extended till 31.12.2023

Consequences of PAN becoming inoperative – Rule 114AAA

March 28, 2023 20106 Views 0 comment Print

Consequences of PAN becoming inoperative: (i) refund of any amount of tax or part thereof, due under the provisions of the Act shall not be made to him; (ii) interest shall not be payable to him on such refund for the period, beginning with the date specified under sub-rule (4) of rule 114AAA and ending with the date on which it becomes operative;

18% GST payable on Civil contract services to IIT Madras

March 28, 2023 1254 Views 0 comment Print

In re ESVEE Constructions (GST AAR Tamilnadu) What is the applicable rate of tax under CGST Rules for the Civil Contract Services (SAC 995414) undertaken / to be undertaken to our customer M/s IIT, Madras (GST No.33AAAAI3615GlZ6) by us with effect from 01.01.2022 by virtue of amendment to Notification No. 11/2017 C.T (Rate) vide Notification […]

SEBI amends Securities Lending Scheme, 1997

March 27, 2023 1359 Views 0 comment Print

SEBI approved to amend SEBI Regulations & guidelines to dispense with the option of payment through Demand Draft and ensure that the payment of fees /penalties/recoveries to be made only through digital mode of payment.

Clarification regarding GST rate and classification of ‘Rab’

March 27, 2023 2559 Views 0 comment Print

Clarification regarding GST rate & classification of ‘Rab’ based on recommendation of GST Council 49th meeting held on 18th February, 2023

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