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Airports Economic Regulatory Authority of India (Amendment) Act, 2021

August 14, 2021 855 Views 0 comment Print

(1) This Act may be called the Airports Economic Regulatory Authority of India (Amendment)Act, 2021. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.

The Central Universities (Amendment) Act, 2021

August 14, 2021 984 Views 0 comment Print

(1) This Act may be called the Central Universities (Amendment) Act, 2021. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.

ITAT reduces addition for Bogus Purchase to 6% from 12.5%

August 13, 2021 1011 Views 0 comment Print

Shri Kamal H. Shah Vs ITO (ITAT Mumbai) Undisputedly, the assessee has failed to prove genuineness of purchases and the authenticity of the dealers in both the impugned assessment years. The notices sent to the dealers under section 133(6) of the Act on the addresses furnished by the assessee by the Assessing Officer were received […]

Problems being faced by taxpayers on new portal E-filing 2.0

August 12, 2021 81942 Views 89 comments Print

Bombay chartered Accountants Society has made a representation to Smt. Nirmala Sitharaman, Hon’ble Union Minister for Finance and Corporate Affairs on Problems being faced by taxpayers on new portal E-filing 2.0. They summarized issues in the ensuing sections i.e. Issues relating to Login, Issues relating to E-filing, Issues relating to Services, Issues relating to Pending […]

Thickness of plastic carry bags increased from 30.09.2021

August 12, 2021 19344 Views 0 comment Print

In order to stop littering due to light weight plastic carry bags, with effect from 30th September, 2021, the thickness of plastic carry bags has been increased from fifty microns to seventy five microns and to one hundred and twenty microns with effect from the 31st December, 2022. This will also allow reuse of plastic carry due to increase in thickness.

Notification No. 30/2021-Customs (N.T./CAA/DRI), Dated: 12.08.2021

August 12, 2021 1053 Views 0 comment Print

Notification No. 30/2021-Customs (N.T./CAA/DRI), Dated: 12.08.2021 (CENTRAL BOARD OF EXCISE AND CUSTOMS) (DIRECTORATE OF REVENUE INTELLIGENCE ) New Delhi, the 12th August, 2021 Notification No. 30/2021-Customs (N.T./CAA/DRI) S.O. 3351 (E).—In compliance of the Hon’ble CESTAT Order No. A/87967/17/CB dated 12.06.2017 arising out of Appeal No. C/243/2006 and in pursuance of notification No. 60/2015-Customs (N.T.), published […]

DRAFT – Foreign Exchange Management (Overseas Investment) Regulations, 2021

August 11, 2021 2412 Views 0 comment Print

Reserve Bank of India DRAFT – Foreign Exchange Management (Overseas Investment) Regulations, 2021 1. Short Title and Commencement (i) These regulations may be called the Foreign Exchange Management (Overseas Investment) Regulations, 2021. (ii) They shall come into force from the date of their publication in the Official Gazette. 2. Definitions In these regulations, unless the […]

Prosecution against a sitting or former M.P./M.L.A. shall not be withdrawn without sanction of HC: SC

August 10, 2021 3717 Views 0 comment Print

Ashwini Kumar Upadhyay Vs Union of India (Supreme Court of India) Learned amicus has drawn our attention to various instances across the country, wherein various State Governments have resorted to withdrawal of numerous criminal cases pending against M.P./M.L.A. by utilising the power vested under Section 321, Cr.P.C.It merits mentioning that the power under Section 321, […]

Service tax excess paid and which could not be adjusted owing to transition to GST is refundable to assessee and limitation cannot be cited for denial

August 10, 2021 1158 Views 0 comment Print

Manoj Vijay Vs Commissioner Central Goods And Service Tax (CESTAT Delhi) Since post July 01, 2017, the applicability of Rule 6 (4A) of Central Excise Rules was no more available to the appellant, the excess amount already got deposited by the appellant at the time when Service Tax liability for the said quarter had not […]

The Factoring Regulation (Amendment) Act, 2021

August 9, 2021 4128 Views 0 comment Print

Every factor shall register the particulars of every transaction of assignment of receivables in his favour with the Central Registry set-up under section 20 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, within such time from the date of such assignment, in such manner and subject to payment of such fee, as may be prescribed.

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