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Free import policy of items under HSN 15119010, 15119020 & 15119090 extended beyond 31.12.2022

December 28, 2022 3036 Views 0 comment Print

Free import policy of items under HS code 15119010, 15119020 and 15119090 is extended beyond 31.12.2022 until further orders vide Notification No. 51/2015-2020-DGFT | Dated: 28th December 2022 Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade New Delhi Notification No. 51/2015-2020-DGFT | Dated: 28th December 2022 Subject: Amendment […]

Procedure for allocation of Tariff Rate Quotas under Ind-Aus ECTA notified

December 28, 2022 3051 Views 0 comment Print

Procedure for allocation of Tariff Rate Quotas (TRQ) in line with the Ministry of Finance (Department of Revenue) Notification no. 66/2022-Customs dated 26th December 2022 under Ind-Aus ECTA is notified. Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade Vanijya Bhawan New Delhi Public Notice No. 46/2015-20-DGFT | Dated […]

RD reduces penalty from 64 Lakh to 14 Lakh for default in issue of Compulsorily Convertible Preference Shares

December 28, 2022 1056 Views 0 comment Print

Company has failed to comply with the below mentioned provisions of Section 42 of the Companies Act, 2013 also: (a) Company did not pass any Board Resolution for approval of Private Placement. (b) Company did not circulate the letter of offer to the proposed allottees in PAS-4 or not maintained any records of the offer in PAS-5

DGFT amends Appendix 2T of FTP 2015-2020

December 27, 2022 1806 Views 0 comment Print

Details of products falling under the jurisdiction of the Export Promotion Council for EOU and SEZ (EPCES) has been updated in Appendix 2T of FTP 2015-2020, with immediate effect. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Vanijya Bhawan New Delhi Public Notice No. 45 /2015-2020-DGFT | […]

MahaRERA: Additional conditions for extension of project

December 27, 2022 10815 Views 0 comment Print

Extension of validity of project registration under MAHARERA would be granted, on promoters complying with the directions issued under Order No. 7 of 2019 dated 08.02.2019.

Fraud by Pretending as ITO – HC grant bail to accused

December 26, 2022 1098 Views 0 comment Print

As per prosecution case, some unknown persons entered into the house of the informant and told that they are Income Tax Officials and thereafter they started searching his house. The accused persons took away rupees twenty lacs alongwith gold jwellery.

HC allows transition of CENVAT Credit by Input Service Distributor (ISD)

December 26, 2022 4566 Views 0 comment Print

Explore Apar Industries vs Union of India case in Bombay High Court. Petition on transition and distribution of CENVAT Credit. Key details and court directives.

No service tax on discount allowed to dealer by Vehicle Manufacturer

December 26, 2022 2391 Views 0 comment Print

B M Autolink Vs C.C.E.-Kutch (Gandhidham) (CESTAT Ahmedabad) We find that the fact is not under dispute that the appellant being a dealer purchase the vehicles from M/s. Maruti Suzuki India Ltd. and subsequently sell the same to various customers. The transaction between M/s. Maruti Suzuki India Ltd. and the dealer and subsequently sale transaction […]

Central Goods and Services Tax (Fifth Amendment) Rules, 2022

December 26, 2022 24810 Views 0 comment Print

(1) These rules may be called the Central Goods and Services Tax (Fifth Amendment) Rules, 2022. (2) Save as otherwise provided in these rules, they shall come into force on the date of their publication in the Official Gazette.

HC upheld section 68 addition as Assessee failed to prove 3 conditions

December 26, 2022 1995 Views 0 comment Print

Considering the provision of Section 68 that the assessee has to prove three conditions i.e. (i) identity of the creditor; (2) capacity of such creditor to advance money; and (iii) genuineness of the transactions. If all the aforesaid three conditions are proved, the burden shifts on the revenue to prove that the amount belong to the assessee. However, the assessee cannot be asked to prove source of source or the origin of origin.

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