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‘Un-fried Fryums’ classifiable under Tariff Item 2106 90 99: AAR Gujarat

September 17, 2020 972 Views 0 comment Print

In re Jayant Snacks and Beverages Pvt. Ltd (GST AAR Gujarat) Question: Under which tariff Heading PAPAD of different shapes and sizes manufactured/ supplied by the applicant would attract CGST and SGST? Answer : The product ‘Un-fried Fryums’ manufactured and supplied by applicant is classifiable under Tariff Item 2106 90 99 of the First Schedule […]

GST on one time long term lease premium to AUDA

September 17, 2020 9288 Views 0 comment Print

In re Jinmagal Corporation (GST AAR Gujarat) Question 1. Whether the one time long term lease premium payable/paid by the Jinmangal Corporation to Ahmedabad Urban Development Authority is supply and thus liable to pay tax as pr Section7? Answer : Affirmative in view of the above discussion. Question 2. Whether Jinmagal Corporation is required to […]

AAR explains GST Rate applicable on Non Woven Bags

September 17, 2020 10218 Views 1 comment Print

In re Max Non Woven Pvt. Ltd (GST AAR Gujarat) Q.1 Whether the product Non Woven Bags manufactured through the intermediate product Non Woven fabric classifiable under Heading No. 5603 are properly classifiable under Heading No. 6305 or under Heading No. 3923? Ans. The product Non Woven Bags manufactured through the intermediate product Non Woven […]

Impact of Lockdown on India’s Export: Analysis and Government Initiatives

September 16, 2020 393 Views 0 comment Print

Read about the impact of the lockdown on India’s export industry, including a decline in overall exports. Discover the government’s key steps to boost exports and revive the economy.

ESI extends Scheme granting benefit to persons who became unemployed due to COVID 19 Lockdown & notifies SOPs for claims   Sep 26, 2020

September 16, 2020 1005 Views 0 comment Print

ESI Corporation has also decided to relax the eligibility condition of the scheme for the period 24.03.2020 to 31.12.2020 in order to provide benefit to the IPs who became unemployed due to COVID-19 induced lockdown.

Listing & trading of units of InvITs & REITs on stock exchanges in IFSC

September 16, 2020 789 Views 0 comment Print

Listing and trading of units of Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) on recognized stock exchanges in International Financial Services Centres (IFSC)

Measures for revival of industries during COVID-19

September 16, 2020 249 Views 0 comment Print

Ministry of Commerce & Industry Impact of Coronavirus Posted On: 16 SEP 2020 4:22PM by PIB Delhi The sudden outbreak of COVID-19 has severely impacted some of the major economies of the world. It has affected countries across the globe including some of the major players like USA, European Union, UK, and India.Both World Bank […]

AO cannot expend scope of limited Income tax scrutiny

September 16, 2020 3258 Views 0 comment Print

Where case of assessee was selected for limited scrutiny on issue of mismatch of sales shown in the audit report vis-à-vis tax return but AO expanded the scope of limited scrutiny by making addition for alleged speculation loss under section 43(5) without taking permission from the concerned Pr.CIT/CIT, order of AO was set aside.

Food Safety and Standards (Food Products Standards and Food Additives) Seventh Amendment Regulations, 2020

September 16, 2020 3240 Views 0 comment Print

These regulations may be called the Food Safety and Standards (Food Products Standards and Food Additives) Seventh Amendment Regulations, 2020. They shall come into force on the date of their publication in the Official Gazette and Food Business Operator shall comply with all the provisions of these regulations by 1st July, 2021.

GST E-invoicing system for E-Commerce Operators

September 16, 2020 7821 Views 0 comment Print

The e-invoicing system is also available for the E-Commerce Operators (ECO) to report the invoices to the Invoice Registration portal, generated by them on behalf of the suppliers. The e-invoicing system identifies the e-Commerce operators based on the taxpayer type in the GST registration details. The taxpayer having the type as ‘TCS’ will be enabled […]

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