Input tax paid on purchase of goods used for demonstration purpose to customer can be availed as input tax credit on capital goods and set off against output tax payable under GST
Government of India Ministry of Finance (Department of Revenue) New Delhi Notification No. 69/2018- Customs Dated: 26th September, 2018 G.S.R. 929(E). – In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, […]
CBIC increases Standard Rate of Custom Duty on Cut and polished coloured gemstones, Diamonds including lab grown diamonds-semi-processed, half-cut or broken and Non-industrial diamonds including lab-grown diamonds (other than rough diamonds) from 2.50% to 7.50% vide Notification No. 68/2018- Customs, Dated: 26th September, 2018 Government of India Ministry of Finance (Department of Revenue) New Delhi Notification […]
Tariff measures taken to curb the imports of non-essential items 1. The Central Government has taken tariff measures, by way of increase in the basic customs duty, to curb import of certain imported items vide Notification No. 67/2018- Customs Dated: 26th September, 2018. . These changes aim at narrowing the current account deficit (CAD). 2. In all the […]
CBIC extends the exemption from Integrated Tax (IGST) and Compensation Cess upto 31.03.2019 on goods imported against AA/EPCG authorizations vide Notification No. 66/2018- Customs, Dated: 26th September, 2018
Central Government hereby notifies for the purposes of the said clause, ‘Chhattisgarh State Electricity Regulatory Commission’, Raipur, a Commission constituted by the Government of Chhattisgarh, in respect of the following specified income arising to that Commission, namely:—
Central Government hereby notifies the Ex-Servicemen Contributory Health Scheme of the Department of Ex-Servicemen Welfare, Ministry of Defence, for the purposes of section 80D(2)(a).
Amendments to Foreign Trade Policy 2015-2020 – Extension of Integrated Goods and Service Tax (IGST) and Compensation Cess exemption under Advance Authorisation, EPCG and EOU scheme upto 31.03.2019.
In partial modification of Notification No. 15 of 2016 dated 06.07.2016, the following Assistant Commissioner of Income Tax (Junior Scale) are, hereby, appointed to officiate as Deputy Commissioner of Income Tax (Senior Time Scale) in the Pay Scale of Rs.15,600-39.000/- (Plus Grade Pay of RS. 6,600/- in Pay Band -3) notionally with effect from 01.04.2016:-
PCIT Vs M/s. Chamundi Winery and Distillery (Karnataka High Court) It is clear that the Courts and the Tax Authorities can look into the real purpose of the commercial arrangements and transactions to reach the truth and the transactions having the sole purpose of tax avoidance may be held to be having no effect on […]
