As you are aware, several cases of monetisation of credit fraudulently obtained or ineligible credit through refund of Integrated Goods & Service Tax (IGST) on exports of goods have been detected in past few months. On verification, several such exporters were found to be non-existent in a number of cases. In all these cases it has been found that the Input Tax Credit (ITC) was taken by the exporters on the basis of fake invoices and IGST on exports was paid using such ITC.
Cabinet approves Amendments/Extension/Repeal in Acts dealing with Goods and Services Tax, Value Added Tax and Excise Duty in view of merger of Dadra & Nagar Haveli and Daman & Diu
a. The issuer shall dispatch a common application form to its shareholders as on the record date. Along with application form, the issuer shall also send the details of the rights entitlements of the shareholder separately.
Vimal Raj Vs State Tax Officer (Kerala High Court) Assessee was already dead as on the date of assessment order and therefore, the assessment orders is a nullity and no other issues are decided by this Court and such other issues are left open. GST Department will be at liberty to take fresh action in the said […]
Debts Recovery Tribunals and Debts Recovery Appellate Tribunals Electronic Filing Rules, 2020 shall apply to e filing, display of interim or final orders or directions passed by the Tribunals on the common website in the e-DRT system and to the electronic issuance and e-service of intimations. MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New […]
Sant Prasad Seth Vs State of U.P. (Allahabad High Court) Withholding of post death dues for years together is not only illegal and arbitrary but a sin if not an offence since no law has declared so. The officials, who are still in service and are instrumental in such delay causing harassment must however feel […]
The Task Force (TF) on Offshore Rupee Markets chaired by Smt. Usha Thorat had recommended introduction of non-deliverable Rupee Derivatives in IFSCs in a phased manner, starting with exchange traded currency derivatives (ETCD) to be followed by Over the Counter (OTC) derivatives at a later stage.
On a review, it has been decided that NBFCs can pool gold jewellery from different branches in a district and auction it at any location within the district, subject to meeting the following conditions:
Declaration of Result of CS Foundation Programme Examination December, 2019 The Result of CS Foundation Programme examination held on 28th and 29th December, 2019 would be declared on Saturday, the 25th January, 2020 at 11:00 A.M. The result along with individual candidate’s subject-wise break-up of marks will be available on the Institute’s website: www.icsi.edu Formal […]
Section 129 mandates joint and several liability on the Consignee, Consignor, Transporter and the Person in Charge of the Vehicle to carry the requisite documents as per the GST Act. Sub-section (1) of Section 129 provides that all such goods and conveyance used as a means of transport for carrying the goods, while they are in transit, in contravention of the provisions of the Act or Rules made thereunder, is liable for detention and seizure.
