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CBIC notifies Customs Exchange rate for Import & Export wef 17.02.2023

February 16, 2023 4710 Views 0 comment Print

CBIC notifies Customs Exchange rate for Import & Export with effect from 17th February, 2023 vide Exchange rate vide Notification No. 10/2023 – Customs (N.T.) | Dated: 16th February, 2023. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS ***** Notification No. 10/2023 – Customs (N.T.) | Dated: […]

Procedure for remedial action in cases where Revenue Audit objection is accepted

February 16, 2023 8013 Views 0 comment Print

Where the Revenue Audit objection is accepted, the PCIT shall decide if the relevant order under audit requires revision it’s 263 as remedial action. If yes, he shall call for the relevant records and proceed to initiate action u/s 263.

Special Additional Excise Duty on Diesel reduced to Rs. 1 per litre

February 15, 2023 1839 Views 0 comment Print

Vide Notification No. 09/2023-Central Excise, Dated 15th February, 2023 Government reduces Special Additional Excise Duty on Diesel to Rs. 1.00 per litre with effect from 16th day of February, 2023 from existing Rs. 6 per litre. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 09/2023-Central Excise | Dated 15th February, 2023 […]

FAQs on Milestones & Illustrative Permissible Expenses For Reimbursement Under IFSCA (FinTech Incentive) Scheme, 2022

February 15, 2023 537 Views 0 comment Print

FAQs guides applicants with regard to milestones to be achieved & reimbursement of sanctioned grant amount under IFSCA (FinTech Incentive) Scheme, 2022.

Classification of Amazon Fire TV Stick/HDMI digital media receiver

February 12, 2023 1185 Views 0 comment Print

CAAR Mumbai held that Amazon Fire TV Stick/HDMI digital media receiver with dual core processor, dedicated Videocore4 GPU, 1 GB of memory and 8 GB of storage having a dual band, duel antenna 802.11 AC Wi-Fi is classifiable under CTH 8517 62 90 of First schedule of Customs Tariff Act, 1975.

HC directs GST Dept. to pay 6% interest for wrong encashment of bank guarantee

February 11, 2023 1431 Views 0 comment Print

The material on record discloses that undisputedly, the respondents encashed the bank guarantees of the petitioner on 23.09.2019 and the same was retained and was lying with them from that date onwards up to 05.01.2022 when the said sum of Rs.4,73,26,512/- was refunded back to the petitioner.

GST Council Newsletter for the month of January 2023

February 11, 2023 2343 Views 0 comment Print

In case the system does not automatically drop the proceedings or taxpayer is unable to revoke the suspension by clicking on ‘Initiate Drop Proceeding’, then taxpayer is advised to contact Jurisdictional Officer.

Introduction of Legal Entity Identifier for Cross-border Transactions – FAQs

February 11, 2023 1923 Views 0 comment Print

Should an AD bank obtain a valid LEI for transactions less than INR 50 crore even if the customer has not done any transaction of INR 50 crore or above on or after October 1, 2022?

MahaRERA: De-registration of Real Estate Projects

February 10, 2023 6021 Views 0 comment Print

Pre-requisites for de-registration of a real estate project – Only those real estate projects which have zero allottees i.e. real estate projects where there are no bookings shall be considered for de-registration.

Travellers from G-20 countries allowed access to UPI at select international airports

February 10, 2023 858 Views 0 comment Print

Reserve Bank of India RBI/2022-23/176 CO.DPSS.POLC.No.S–1907/02.14.006/2022-23 February 10, 2023 All Prepaid Payment Instrument (PPI) Issuers (Banks and Non-banks) and National Payments Corporation of India (NPCI) Madam / Dear Sir, Issuance of PPIs to Foreign Nationals / Non-Resident Indians (NRIs) visiting India As announced in the Statement on Developmental and Regulatory Policies dated February 08, 2023, it […]

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