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Weekly newsletter from Chairman, CBIC dated 23.08.2022

August 22, 2022 1320 Views 0 comment Print

On the anti-smuggling front, last week, officers at the Chhatrapati Shivaji Maharaj International Airport, Mumbai interdicted 500 Grams of Cocaine valued at about Rs. 5 Crores concealed in the baggage of an international arriving passenger. Kudos to the officers for another fine detection.

Foreign Exchange Management (Overseas Investment) Regulations, 2022

August 22, 2022 8118 Views 0 comment Print

These regulations may be called the Foreign Exchange Management (Overseas Investment) Regulations, 2022. They shall come into force on the date of their publication in the Official Gazette.

Section 153C satisfaction needs to be recorded even if AO of searched & other person is same

August 22, 2022 6495 Views 0 comment Print

Palla Simhachalam (HUF) Vs ACIT (ITAT Visakhapatnam) AO of the searched person and the other person is one and the same, then also AO is required to record the satisfaction, as held by the various In the instant case, no such material has been brought before us by the ld. DR. In view of the […]

Charitable Trust Registration – CIT cannot amend Section 12A Provisions

August 20, 2022 2460 Views 0 comment Print

Section 12A provision govern cancellation of Charitable Trust Registration, and these provisions can neither be diluted or supplemented by CIT

State not Obliged to indicate HSN Code & GST Rates in Public Tender: SC

August 20, 2022 1422 Views 0 comment Print

Union of India & Others Vs Bharat Forge Ltd. (Supreme Court) It is contended by the appellants that as far as the tenders relied upon by the writ petitioner produced in the counter affidavit as having been brought out wherein the HSN code is indicated, they are tenders issued by the other units of the […]

FTAs with developed world an important agenda of Modi government

August 19, 2022 852 Views 0 comment Print

Free trade agreements (FTAs) with the developed world an important agenda of Modi government. Textile Industry has a big role in making FTAs a success: Shri Piyush Goyal

Customs Exchange rate for Import & Export wef 19th August, 2022

August 18, 2022 3249 Views 0 comment Print

Exchange rate Notification No. 70/2022-Cus (NT) dated 18.08.2022  notifying exchange rate with effect from 19th August, 2022 against Indian Rupees for Import and Export. Government Of India Ministry Of Finance Department Of Revenue Central Board Of Indirect Taxes And Customs New Delhi ***** Notification No. 70/2022 – Customs (N.T.) | Dated: 18th August, 2022 In exercise […]

CBDT amends rule 128 & relaxes conditions for filing of form no. 67

August 18, 2022 23079 Views 0 comment Print

CBDT amends rule 128 and relaxes conditions for filing of form no. 67 for claiming Foreign Tax Credit vide Notification No. 100/2022-Income Tax

Special Additional Excise Duty rate on Petroleum Crude production & Aviation Turbine export

August 18, 2022 615 Views 0 comment Print

CBIC amends Notification No. 18/2022-Central Excise, dated 19th July, 2022 to decrease the Special Additional Excise Duty on production of Petroleum Crude to Rs. 13,000 per tonne  and increase Special Additional Excise Duty export of Aviation Turbine Fuel to Rs. 2 per litre vide Notification  No. 24/2022-Central Excise | Dated: 18th August, 2022 MINISTRY OF […]

Special Additional Excise Duty on Diesel increased to Rs. 6 per litre

August 18, 2022 987 Views 0 comment Print

Seeks to further amend No. 04/2022-Central Excise, dated the 30th June, 2022 , to increase the Special Additional Excise Duty on Diesel vide Notification  No. 23/2022-Central Excise | Dated: 18th August, 2022 NINISTRY OF FINANCE (Department of Revenue) New Delhi Notification  No. 23/2022-Central Excise | Dated: 18th August, 2022 G.S.R. 641(E).—In exercise of the powers […]

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