CBIC amends 3 electronics related notifications in order to align the HS Codes of the said notifications with the Finance Act, 2023, w.e.f. 01.05.2023 vide Notification No. 34/2023-Customs Dated: 29th April, 2023. MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 34/2023-Customs | Dated: 29th April, 2023 G.S.R. 331(E).—In exercise of the powers conferred […]
Ld. Sr. DR had raised an objection stating that issues relating to the ground of appeal taken in the present case falls under the exception clause contained in the said CBDT circular and, therefore, has to be heard on merit. To this effect, a report was called from the Ld. AO to make a submission as to how the present appeal is covered under the exception clause contained in the CBDT circular.
Supreme Court has reversed the decision of Guj HC Decision & allowed the Revenue Appeal GST/Customs – Section 3(7) and Section (9) of the Customs Tariff Act, 1975 – Exemption of IGST and GST Compensation Cess on import of inputs against Advance Authorization – Revenue appeal against Gujarat High Court judgment wherein mandatory fulfilment of a ‘pre-import condition’ incorporated in the Foreign Trade Policy of 2015-2020 and Handbook of Procedures 2015-2020 by Notification No. 33/2015-20 and Notification No. 79/2017-Customs, dated 13.10.2017 was held to be arbitrary and unreasonable
The Presenting Officer further submitted that the Auditor of the company i.e. M/s SRBC & Co. LLP, Chartered Accountants, has not comply its duty as per the provision of Section 143(3) of the Companies Act, 2013, with respect to non-quantification of the Related Party Transaction as per para 23A of the IND-AS-24. Hence, non-complying the […]
ITAT held that if there is any incorrect claim apparent from any information in the return, then adjustment is permissible. Here in this case, once the claim of deduction as per the law in not allowable, same can be disallowed in the intimation u/s 143(1).
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver – Notification No. 32/2203-Customs (N.T.) Dated: 28th April, 2023 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi Notification No. 32/2203-Customs (N.T.) | Dated: 28th April, 2023 S.O. 1967(E).—In exercise of the powers conferred by sub-section […]
SEBI vide its aforesaid referred circular introduced ISD for the following events in XBRL (Extensible Business Reporting Language) format with effect from May 02, 2023: ISD for Buy-back of equity shares through tender offer ISD for Buy-back of equity shares from the open market
Change made in Composition restriction table – Message table containing HSN wise list of items restricted for availing compositing scheme has been updated in registration application on portal
Forms for carrying out settlement of arrears under Relevant Act, in respect of the period ending on or before the 30th June 2017 – Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Act, 2023
Ashok Kumar Jain Vs ITO (ITAT Delhi) ITAT observed that the assessee has replaced old bulbs/tube lights with new LED lights. Some other expenditure was incurred for regular repair and replacement. Thus, from the nature of expenditure incurred, it is evident that they are in the nature of consumables and not for acquiring any assets […]
