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CBIC Norms for Cost Recovery Charges Exemption at AFS

September 14, 2023 1338 Views 0 comment Print

CBIC issues norms for posting officers and performance criteria for granting exemption from Cost Recovery Charges (CRC) at Air Freight Stations (AFS).

RBI Announces List of NBFCs in Upper Layer for 2023-24

September 14, 2023 23433 Views 0 comment Print

RBI has released list of NBFCs in Upper Layer under Scale Based Regulation for NBFCs for 2023-24. Learn more about classification and regulatory framework.

CAAR Ruling: Applicability of Duty Rates for X-Ray Tube & Spare Parts

September 14, 2023 1254 Views 0 comment Print

Read the Customs Authority’s ruling on the duty rates for X-Ray tubes and spare parts, their classification, and the impact on medical equipment imports.

Complex Web Portal Design Causes Missed GST Notice: HC Quashed Order

September 13, 2023 1563 Views 0 comment Print

Madras High Court quashes GST assessment orders for AY 2017-2022, citing a web portal design flaw that led to missed notices. Details and implications.

IBBI Suspends IP for Conducting CIRP Without Due Regard to Code

September 13, 2023 672 Views 0 comment Print

DC notes that Mr. Partha Sarathy Sarkar has conducted the entire CIRP of the CD in a brazen manner without having due regard the provisions of the Code and the regulations made thereunder. Keeping in view the grave nature of contraventions as detailed above, three years suspension is fully justified.

RBI’s Responsible Lending Guidelines for Release of Property Documents

September 13, 2023 7287 Views 1 comment Print

Reserve Bank of India issues guidelines for releasing movable and immovable property documents upon personal loan repayment. Learn more about responsible lending conduct.

CBIC Resolves 13,366 Public Grievances

September 13, 2023 378 Views 0 comment Print

CBIC prioritized the disposal of VIP references and public grievances. A remarkable 80 VIP references, 11,284 public grievances, and over 2,082 public grievance appeals were successfully resolved.

Government Imposes 30-Day Invoice Reporting Limit for Large Taxpayers

September 13, 2023 26310 Views 2 comments Print

Stay informed about the new time limit for reporting old invoices on the e-invoice IRP portals for taxpayers with AATO greater than 100 crores starting from November 1, 2023.

ITAT Orders Fresh Adjudication: Section 68 Addition without allowing cross-examination

September 13, 2023 777 Views 0 comment Print

Analysis of the Shiv Charan Vs ITO case by ITAT Delhi, where a fresh adjudication was ordered on income tax addition u/s 68, focusing on procedural fairness.

Request for Deferment or Extension of Due Date for Filing Forms 10B, 10BB & ITR-7

September 12, 2023 22299 Views 1 comment Print

Chamber of Tax Consultants seeks deferment of Forms 10B and 10BB filing deadlines due to complexities, resource constraints, and non-availability of utilities.

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