Import policy for Toys/Dolls etc: Import policy for Toys /Dolls and similar other recreational goods under any chapter will be governed by BIS standards as specified in Policy Conditions 2 of Chapter 95.
Notification of Vizinjham International Seaport and Muthalapozhi u/s 7(d) of the Customs Act for unloading and loading of boulders for breakwater construction vide Notification No. 87/2019- Customs (N.T.) dated 02nd December, 2019 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi, the 02nd December, 2019 11 Agrahayana, Saka 1941 Notification No. 87/2019- Customs […]
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA MASTER CIRCULAR ON POINT OF SALES PRODUCTS AND PERSONS – LIFE INSURANCE IRDAI/LIFE/CIR/MISC/215/12/2019 2nd December, 2019 VER-01 2nd December, 2019 Master Circular on Point of Sales Products and Persons — Life Insurance 1. The Authority had issued the following Guidelines in order to give an added fillip in providing easy access to […]
1. Income that accrues or arises in India is taxable in the hands of both Resident taxpayers as well as Non-Resident taxpayers. Thus, if a Non-Resident has a property located in India, he is liable to be taxed in India on the rental income from that property, as that income accrues or arises in India. […]
Taxation of overseas income upon return to India 1 An individual under the Income Tax Act can either be (i) Resident Ordinary, (ii) Resident but Not Ordinarily Resident, or (iii) Non-Resident. The determination of exact status is important to know the tax incidence. We must remember that Residential status under the Income-Tax Act is different […]
Notice under section 143(2) under which jurisdiction was assumed by AO was issued to a non-existent company. The assessment order was also issued against amalgamating company. This was a substantive illegality and not a procedural violation of the nature adverted to in section 292B. Accordingly, assessment order framed in the name of non-existing person was void ab initio.
Sh. Kavi Mahajan Vs M/s Heeranandani Realtors Pvt. Ltd (National Anti-Profiteering Authority) Respondent has benefited from the additional ITC to the extent of 10.66% of the turnover during the period from July, 2017 to August, 2918 and hence the provisions of Section 171 of the CGST Act, 2017 have been contravened by the Respondent as […]
Goods belonging to the petitioner, were detained for an alleged discrepancy noticed in respect of the E-way bill raised in connection with invoice. Discrepancy noticed is with regard to the value of the commodity.It is also the case of the detaining authority that the commodity in question was undervalued by the vendor by offering excessive discounts to the purchaser. Reasons shown, that are impugned in this writ petition, are not sufficient for the purposes of detaining the goods in terms of Section 129 of the CGST/SGST Act.
In re Alisha Foods (GST AAR Madhya Pradesh) The product ‘Fried Fryums’ manufactured and supplied by M/s. M/s ALISHA FOODS is classifiable under Tariff Item 2106 90 99 of the First Schedule to the Customs Tariff Act, 1975. Goods and Service Tax rate of 18% (CGST 9% + GGST 9% or IGST 18%) is applicable […]
Section 11(B)(1) of the Act read with the Explanation thereto, clearly requires any claim for rebate to be submitted within one year of export of the goods, where against rebate is claimed. There is no provision which permits relaxation of this stipulated one year time limit.
