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CBIC exempt IGST on satellite launch services

October 16, 2020 3267 Views 0 comment Print

To Amend No.9/2017- Integrated Tax (Rate), dated the 28th June, 2017 So As To Exempt Satellite Launch Services Provided By ISRO, Antrix Co. Ltd And NSIL As Recommended By GST Council In Its 42nd Meeting Held On 05.10.2020. Notification No. 05/2020- Integrated Tax (Rate) dated 16th October, 2020. Government of India Ministry of Finance (Department of […]

Individual Housing Loans – Rationalisation of Risk Weights

October 16, 2020 1377 Views 0 comment Print

It has been decided to rationalise the risk weights, irrespective of the amount. The risk weights for all new housing loans to be sanctioned on or after the date of this circular and upto March 31, 2022 shall be as under:

Assessee can take a stand contrary to their TP study

October 16, 2020 1713 Views 0 comment Print

It is open to the parties in Transfer Pricing cases to take a stand contrary to their TP study, if they contend that the stand taken in the TP study is contrary to facts or was erroneous. Such a claim cannot be disregarded only on the basis that it is contrary to Assessee’s own stand in the TP study.

Tariff Notification No. 100/2020-Customs (N.T.), Dated: 15.10.2020

October 15, 2020 639 Views 0 comment Print

Tariff Notification No. 100/2020-Customs (N.T.), Dated: 15.10.2020 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver. Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 100/2020-CUSTOMS (N.T.) New Delhi, 15th October, 2020 23 Asvina, 1942 (SAKA) […]

PACL investors with claims upto ₹ 7000 can claim till 31.10.2020

October 15, 2020 903 Views 1 comment Print

The Committee has vide Public Notice dated July 21, 2020 also provided similar facility to the investors with claim amount between Rs 5001/- and Rs 7000/-and accordingly, the web-portal was made operational from August 01, 2020. The last date for accepting such rectified application is October 31, 2020.

DGFT Prohibits import of Air Conditioners with refrigerants

October 15, 2020 6384 Views 0 comment Print

Notification No. 41/2015-2020-DGFT Import Policy of Air Conditioners with refrigerants under HS codes 84151010 and 84151090 is amended from ‘Free’ to ‘Prohibited’.

Export of Alcohol based Hand Sanitizers in any form/packaging allowed

October 15, 2020 1056 Views 0 comment Print

The Export of Alcohol based Hand Sanitizers in container with dispenser pumps is free for export making export of Alcohol based Hand Sanitizers in any form/packaging freely exportable, with immediate effect.

ITC of goods & services used for lying of cross-country pipeline nearby river till boundary wall of Factory

October 15, 2020 3111 Views 0 comment Print

I. Whether input tax credit of GST paid on goods and services used tor laying of cross-country pipeline nearby river till the boundary wall of the Factory can he taken by the Appellant? II. Whether input tax credit can be availed on Operation and Maintenance Services (‘0 & M Services’) obtained by the Appellant for the maintenance of the facility?

Extend Due Date of filing of Tax Audit & Income Tax Return

October 15, 2020 73293 Views 21 comments Print

We would request you to further extend the due date of filing tax audit report to 28 February 2021 and Income tax return filing to 31 March at the earliest. The entire fraternity of tax payers and professionals will highly appreciate if this is done soon enough (i.e. well in advance).

Conventional Cyber Security Norms and Best Practices

October 15, 2020 915 Views 0 comment Print

1. Always use genuine software. 2. Install the latest updates/patches for Operating System, Antivirus and Application software. 3. Enable a firewall. Operating Systems have an inbuilt firewall which can be used to stop unwanted internet connections. 4. Limit user privileges on the computer. Always access Internet as a standard user but not as Administrator.

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