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IBBI (Liquidation Process) (Amendment) Regulations, 2018

March 27, 2018 1548 Views 0 comment Print

These regulations may be called the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2018. They shall come into force on 1st April, 2018.

GST Leviable on ‘Duty Free’ shops at Delhi International Airport: AAR

March 27, 2018 2778 Views 0 comment Print

The applicant is in the business of retail sale of sunglasses. The applicant was registered under the Delhi Value Added Tax Act, 2004 and the Central Sales Tax Act, 1956 and now the applicant has migrated to GST regime and its present provisional GST Number is 07AADCR6468R1ZF.

Maharashtra exempts E-way Bill requirement for Intra-State Movement until further orders

March 27, 2018 23007 Views 2 comments Print

No requirement of E-way Bill from 1st April 2018 until further orders for the intra- State movement that commences and terminates within the State of Maharashtra, in respect of any goods of any value.

Cenvat credit eligible on Cement & steel bars used in structural foundation to support power plant

March 27, 2018 1713 Views 0 comment Print

The dispute is with reference to availability of Cenvat credit to the appellant in respect of cement and steel bars used in the structural foundation to support the power plant. The matter was earlier heard by the Single Member bench.

Notification 34/2018- Customs-Tariff dated: 27th March 2018

March 27, 2018 4575 Views 0 comment Print

Seeks to Amend notification No 69/2011- -Customs, dated the 29thJuly, 2011, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section(i), vide number G.S.R. 593 (E), dated the 29th July, 2011.

ICAI suggests Simple User Friendly GST return filing & credit Model

March 26, 2018 11703 Views 3 comments Print

The Institute of Chartered Accountants of India (ICA1) is a statutory body established under the Chartered Accountants Act, 1949 which regulates the profession of Chartered Accountancy in India.

Section 263 Inadequate inquiry by AO, cannot be considered as lack of inquiry

March 26, 2018 2124 Views 0 comment Print

Inadequate inquiry by AO with respect to compliance of TDS under section 194H could not be equated with lack of inquiry, so as take the case for revision under section 263.

Investor Grievance Redress Mechanism – New Policy Measures

March 26, 2018 3048 Views 0 comment Print

SEBI encourages investors to lodge complaints through electronic mode in SCORES. However, complaints received from investors in physical form are also digitized by SEBI and uploaded in SCORES. Thereafter, follow-up actions of the complaint are done in electronic form only i.e. through SCORES.

AAR Kerala allows advance ruling withdrawal on applicability of Margin Scheme on demo cars

March 26, 2018 924 Views 0 comment Print

GST Act, 2017 – Advance Ruling U/s 98 – whether the sale of ‘demo cars’ will fall under Rule 32(5) of the GST Rule – Also known as Margin Scheme- Request for withdrawal of application – Orders issued

GST Rate on Rubber Wood is 18%: AAR

March 26, 2018 6498 Views 0 comment Print

Sri.N.C. Varghese, Thrissur, a small scale contractor (hereinafter called the applicant), has preferred an application for Advance Ruling on the rate of tax of standing rubber trees. The applicant is engaged in the purchase and cutting and removal of rubber trees from the plantations of certain public sector undertakings owned by the Government of Kerala and also from private individuals in Kerala

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