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All India roll-out of Faceless Assessment

September 12, 2020 1374 Views 0 comment Print

Faceless Assessment, duly supported by Paperless and Contactless Customs clearance processes, is a critical reform. The pilot programme of Faceless Assessment was launched in Chennai on 14.08.2019 for electrical machineries falling under Chapter 85 of the Customs Tariff Act, 1975.

Transfer/postings of 164 officers in the grade of Principal CIT

September 11, 2020 10557 Views 0 comment Print

Office Order No. 171 of 2020 Consequent upon diversion of posts for implementation of the Faceless Assessment Scheme, the transfer/postings of the following officers in the grade of Principal Commissioner of Income Tax, are hereby ordered with immediate effect and until further orders:

Transfer/postings of 41 officers in the grade of Chief CIT

September 11, 2020 3867 Views 0 comment Print

Office Order No. 170 of 2020 Consequent upon diversion of posts for implementation of the Faceless Assessment Scheme, the transfer/postings of the following officers in the grade of Chief Commissioner of Income Tax, are hereby ordered with immediate effect and until further orders:

Transfer/postings of 6 officers in the grade of Pr. CIT

September 11, 2020 2016 Views 0 comment Print

Office Order No. 169 of 2020 On promotion, the transfer/postings of the following officers in the grade of Pr. Chief Commissioner of Income Tax/Pr. Director General of Income Tax, are hereby ordered with immediate effect and until further orders:

SEBI modifies scheme characteristics of Multi Cap Fund

September 11, 2020 570 Views 0 comment Print

In order to diversify the underlying investments of Multi Cap Funds across the large, mid and small cap companies and be true to label, it has been decided to partially modify the scheme characteristics of Multi Cap Fund

Compliance functions in banks and Role of CCO

September 11, 2020 2184 Views 0 comment Print

The following guidelines are meant to bring uniformity in approach followed by banks, as also to align the supervisory expectations on CCOs with best practices.

CBIC promotes 38 Officers to the grade of Principal Commissioner Grade

September 11, 2020 7617 Views 0 comment Print

The President of India is pleased to empanel and promote the following officers to the grade of Principal Commissioner of Customs and Central Excise in the Indian Revenue Services (Customs & Central Excise), in Level 15 of the Pay Matrix (Rs. 182200 – 224100/-), against the panel years 2019 (Supplementary) and 2020 (Regular) on in situ basis w.e.f the date of assumption of the charge of the post and until further orders:-

Value declared in Bills of Entry cannot be rejected without following Rule 12ibid

September 11, 2020 2037 Views 0 comment Print

Classic Marble Company Vs Commissioner of Customs (CESTAT Mumbai) In this case The learned adjudicating authority has rejected the declared value in respect of the subject Bills of Entry under Section 14(1) ibid read with Rule 12 ibid and re-determined the assessable value under Section 14(1) ibid read with Rule 3(1) ibid, holding that sufficient […]

Indian Boiler (Second Amendment) Regulations, 2020

September 11, 2020 10212 Views 0 comment Print

(1) These regulations may be called the Indian Boiler (Second Amendment) Regulations, 2020. (2) They shall come into force on the date of their publication in the Official Gazette.

No rectification of Advance Ruling if no error / apparent mistake

September 11, 2020 702 Views 0 comment Print

In re Durga Projects 86 Infrastructure Pvt (GST AAR Karnataka) We find that the applicant filed the instant application for ROM in the order No.17/2019 dated 25.07.2019, without bringing anything on record to negate the findings in the said order that the possession of land owner’s share of flats was not handed over to the […]

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