Under the new Customs Post Clearance Audit (PCA) scheme there are Transaction Based Audit (TBA), Premise Based Audit (PBA) and Theme Based Audit (ThBA) and upon review thereof the findings are:
Confederation of All India Traders has written a letter to Smt. Nirmala Sithraman, Hon’ble Minister for Finance against alleged physical assault and mental torture of traders of Vapi in Gujarat by concerned high officials of GST Department and demanded that there should be stringent and exemplary punishment for erring officials since their mis-deeds creates an […]
Prakash Pandharinath Bakre Vs PCIT (ITAT Jaipur) Benefit under section 54 is available to an individual who has transferred a long term capital asset being a ‘residential House Property’ and the assessee has either purchased one residential house in India within a period of one year before or two years after the date of transfer […]
Learned Counsel pointed out that there are 28 contracts in respect of which demand has been made. Learned Counsel stated that they have paid the service tax in respect of Serial Number 14 and 20 of the said list and these are not disputed. Learned Counsel pointed out that they are entitled to get the benefit of the mega Exemption Notification No. 25/2012-ST dated 20 June, 2012. He pointed out that Serial Number 12(d), Serial Number 13(a) and Serial Number 14(a) of the said notification cover all the contracts that they have undertaken as these contracts are in respect of the canals, roads and railways etc. He pointed out that the availability of exemption under Serial Number 13(a) and 14(a) could not be taken up before Commissioner due to lack of proper representation by the Advocate. He pointed out that they are entitled to these benefits but the Commissioner‟s order only examine the benefits with respect to Serial Number 12(d) of the said notification. He pointed out that in order to get a proper redressel, the matter needs to be sent back to Commissioner for fresh adjudication for examining the relief under all the related entries of the mega Notification No. 25/2012-ST dated 20 June, 2012.
Procedure for verification of exporters declaration (self certification basis) on the Rules of Origin under GSP Scheme under Chapter-2 of Handbook of Procedures, 2015-2020 inserted in para 2.104 of Handbook of Procedures, 2015-2020. MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) New Delhi, the 15th February, 2021 Public Notice No. […]
As a part of IT Revamp, this Directorate proposes to introduce new modules (online e-Certificate Management System) for processing of certain applications. From 22.02.2021 onwards, the following applications types are required to be submitted online through the importer/exporter’s dashboard on the DGFT Website –
Reserve Bank has announced setting up of an Expert Committee on UCBs to examine the issues and to provide a road map for strengthening the sector, leveraging on the recent amendments to Banking Regulation Act, 1949 (As Applicable to Cooperative Societies).
We had noticed that the Commissioner may authorize arrest of a person only if he has reasons to believe that such a person has committed any offence under the clauses mentioned therein.
Valuation is an exercise which is unique for every transaction and requires efforts, involvement, application of mind and thought for each assignment separately. Only guiding principles can be adopted and considered by the valuer while undertaking each assignment. Further, ‘value’ is an estimate of the value of a business or assets, arrived at by applying […]
In a significant announcement for strengthening School Education as envisioned under National Education Policy 2020, Union Budget 2021-22 announced that more than 15,000 schools will be qualitatively strengthened to include all components of the National Education Policy 2020.
