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Update KYC in Demat & Trading Account by 31st December 2021

December 7, 2021 2265 Views 0 comment Print

Last date for updating KYC in Demat and Trading is 31st December 2021 Update your KYC else your Demat and Trading account will be made inactive. All Investors are requested to take note that as per Regulatory guidelines, 6-KYC attributes i.e. Name, PAN, Address, Mobile Number, Email-ID and Income Range have been made mandatory. This […]

Illegal export of antique idol of Lord Vishnu: Court Grants Bail to accused

December 7, 2021 900 Views 0 comment Print

The allegation against the accused is that he was illegally exporting the antique which is said to be the idol of Lord Vishnu. On being satisfied with the grounds urged in the remand application, the accused was sent to the judicial custody.

AAR explains when 5% GST can be charged on supply of marine engines

December 6, 2021 1713 Views 0 comment Print

In re ocean blue boating Private Limited (GST AAR Maharashtra) Question 1:- Whether GST rate of 5% can be charged on supply of marine engines of heading 8407 and heading 8408 and/or their spare parts of heading 8409 without considering its general tax rate as per the entry of schedule I, SI. No. 252 of […]

DGFT invites Applications for import authorisation for Water Melon Seeds

December 6, 2021 2196 Views 0 comment Print

Applications are invited for import authorisation for Water Melon Seeds–Other (ITC(HS) 12077090) for the period of 01.01.2022 to 31.03.2022. The last date for submission of online applications is 13.12.2021 MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (Directorate General of Foreign Trade) New Delhi, the 6th December, 2021 Public Notice No. 41/2015-2020-DGFT Subject : Import […]

CESTAT allows transitional credit as petitioner complied with Procedures for availing credit

December 5, 2021 1974 Views 0 comment Print

Jindal Texofab Ltd Vs C.C.E. (CESTAT Ahmedabad) As per the above report it can be seen that after proper verification some discrepancy was found for Rs 1, 50,250/- which was reversed by the appellant. As per the procedure the proper stock verification was conducted by the Superintendent thereafter the Adjudicating Authority seeking further verification of […]

GST on building of Body of buses

December 5, 2021 4431 Views 0 comment Print

In re Adithya Automotive Applications Pvt. Ltd. (GST AAR Uttar Pradesh) Q-1 Whether the Body Building Activity on the Chasis provided by the principal would Amount to manufacturing Services Attracting 18% of GST ? Ans-1 No. Q-2 Whether Clarification of CBIC vide para No. 12.3 of circular no 52/26/2018-GST dated 09.08.2018 Clarifying 18% rate of […]

GST on Functions Entrusted to Municipalities and to Panchayats

December 5, 2021 6591 Views 0 comment Print

In re Arinem Consultancy Services PVT LTD (GST AAR Uttar Pradesh) Q-1 We hold that the Services rendered  under the Contract with State Urban Development Agency, Uttar Pradesh (SUDA) , and for PMAY are in relation  to Functions Entrusted to Municipalities under Article 243 W and to Panchayats under Article 243 G of the Constitution of […]

GST applicable on Centage Included in total value of work done

December 5, 2021 5799 Views 0 comment Print

In re UP State Bridge Corporation Limited (GST AAR Uttar Pradesh) Q-1 Centage Included in total value of work done taxable or not under the CGST Act, 2017 ? Ans-1 Centage will be Included in the value of supply  and the same is taxable  under  the CGST Act, 2017. Q-2 Whether Labor Cess is Taxable or not […]

GST on reimbursement of Employee Provident Fund & ESI

December 5, 2021 30297 Views 0 comment Print

In re Lucknow Producers Cooperative Milk Union Ltd. (GST AAR Uttar Pradesh) Q-1 GST liability on  reimbursement of Employee Provided Fund & ESI? Ans-1 GST is liable to be paid @ 18% (9% CGST & 9% SGST) on the  Reimbursement of EPF and ESI  contribution as the same is liable to be included in the value of […]

Income Tax Department conducts search operations in Madhya Pradesh

December 4, 2021 1239 Views 0 comment Print

The Income Tax Department initiated search and seizure operations on two major business groups of Indore on 25.11.2021. The first group is engaged in the business of mining, media and providing cable TV services and the second group is running a coaching academy. The search action has covered more than 70 premises in Madhya Pradesh and 5 other states. […]

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