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Customs not to insist on presence of Customs Broker/Importer

April 5, 2020 873 Views 0 comment Print

Presence of Customs Broker/Importer will also not be insisted by the officer and the delivery of goods will be given to the driver who produces the Gate pass issued by the CFS containing the number and date of the bill of entry or the Bill of Entry, to the Gate Officer.

Provision for anticipated Pay Revision is allowable Business Expense

April 5, 2020 2760 Views 0 comment Print

Housing And Urban Development Corporation ltd Vs Add. CIT (Delhi High Court) The pay revision of employees of the appellant, a PSU is due every ten years with the expiry of one wage settlement or agreement. Invariably, there is a time lag between expiry of a wage revision and negotiation of a fresh wage revision. […]

Global Pandemic Covid19 related Instructions to Life Insurers

April 4, 2020 435 Views 0 comment Print

Where unit linked policies mature and fund value is to be paid in lumpsum, Life Insurers may offer settlement options in accordance with Regulation 25 of IRDA (Linked Insurance Products) Regulations, 2013. This onetime option is regardless of whether such option exists or not in the specific product.

RBI Notifies Changes in Market Hours

April 3, 2020 687 Views 0 comment Print

The unprecedented situation created by the COVID-19 outbreak has necessitated lockdowns, social distancing, restrictions on movement of people and non-essential activities, work from home arrangements and business continuity plans.

Fortified Rice Kernels not classifiable as natural Rice: AAAR

April 1, 2020 1827 Views 0 comment Print

In re JVS Foods Pvt. Ltd (GST AAAR Rajasthan) Fortified Rice Kernels (FRK) manufactured by the appellant do not have essential character of natural Rice and also does not merit classification under Chapter 10 in terms of Chapter Note 1 (A) of the said Chapter. It is appropriately classifiable under the sub-heading of Chapter 19 […]

Extension of Foreign Trade Policy 2015-2020 till 31.03.2021

March 31, 2020 7536 Views 0 comment Print

Government Foreign Trade Policy 2015-2020 till 31.03.2021 vide Notification No. 57/2015-2020-DGFT Dated: 31st March, 2020. The existing Foreign Trade Policy 2015-2020 which is valid upto 31.3.2020 is extended upto 31.03.2021. Various other changes are also made extending the date of exemptions by one year and extending validity of DFIA and EPCG Authorizations for import purposes. […]

Extension of Hand Book of Procedures 2015-2020 till 31.03.2021

March 31, 2020 12423 Views 1 comment Print

Validity of the existing Hand Book of Procedures, 2015-20 is extended upto 31st March, 2021. Various other amendments are also made providing extension in the export obligation period in case of Advance and EPCG Authorisations, extension in validity period of status certificates, extension in the dates of filing various applications and returns etc. vide Public […]

Declaration format for Appointment of MD/CEO/CEO/PTC in Banks

March 31, 2020 2661 Views 0 comment Print

Appointment of Managing Director and Chief Executive Officer (MD & CEO) / CEO / part-time Chairperson (PTC) in Banks – ‘Declaration and Undertaking’ and allied matters

Unverified news capable of causing panic should not be disseminated: SC

March 31, 2020 2499 Views 0 comment Print

Alakh Alok Srivastava Vs Union of India (Supreme Court of India) We expect the Media (print, electronic or social) to maintain a strong sense of responsibility and ensure that unverified news capable of causing panic is not disseminated. A daily bulletin by the Government of India through all media avenues including social media and forums […]

GST on Boarding & Lodging facilities both on monthly & daily tariffs

March 31, 2020 19407 Views 0 comment Print

In re Srisai Luxurious Stay LLP (GST AAR Karnataka) 1. Whether the daily accommodation services ranging from Rs.300 to Rs.500 per bed are eligible for exemption under Notification No.12/2017-Central Tax? The daily accommodation services ranging from Rs.300 to 500 per bed are eligible for exemption under Notification No. 12/2017- Central Tax (Rate) dated 28.06.2017 2. […]

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