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LLP not required to pay service tax under reverse charge mechanism

July 28, 2021 3267 Views 0 comment Print

SRL Advisors LLP Vs Commissioner of Central Tax Delhi (CESTAT Delhi) Rule 2(bc) of Service Tax Rules, refers to the meaning of ‘body corporate’ in Section 2(7) of the Companies Act, wherein any other body corporate which includes a LLP is specifically excluded from the definition of body corporate. Thus I hold that the appellant […]

Corrigendum to Notification No. 23/2021-Customs (N.T.) dated 18.02.2021

July 27, 2021 603 Views 0 comment Print

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) CORRIGENDUM New Delhi, the 27th July, 2021 S.O. 2974(E).—In the Notification of the Government of India, in the Ministry of Finance (Department of Revenue) No. 23/2021-Customs (N.T.) dated the 18th of February, 2021, published in the Gazette of India, Extraordinary, Part II, […]

Delhi Authority for Advance Ruling reconstituted

July 27, 2021 1899 Views 0 comment Print

Governor of Delhi under Delhi Goods and Services Tax Act, 2017, is pleased to reconstitute the Delhi Authority for Advance Ruling, with Abhishek Chandra Gupta and Franklin Laltinkhuma (IAS).

GST applicable on “Tertiary Treated Water” supplied to MAHACENCO for Industrial use

July 27, 2021 2748 Views 0 comment Print

In re Nagpur Waste Water Management Pvt. Ltd. (GST AAR Maharashtra) It is observed that the applicant has processed the sewage water which contains various kinds of organic and inorganic impurities like sand. Silt, clay, chemicals, organisms, etc. The sewage water Cannot be used, in any way, in its original form. Sewage water can be […]

Systemic measures under Black Money Act yields results

July 26, 2021 765 Views 0 comment Print

As on 31.05.2021, assessment orders under section 10(3)/10(4) of the Black Money Act, 2015 have been passed in 166 cases, wherein demand of  8,216 crore has been raised. Undisclosed income of  8,465 crore (approx.) has been brought to tax and penalty of Rs. 1,294 crore has been levied in HSBC cases.

Food Safety and Standards (Food Products Standards and Food Additives) Third Amendment Regulations, 2021

July 26, 2021 2916 Views 0 comment Print

1. (1) These regulations may be called the Food Safety and Standards (Food Products Standards and Food Additives) Third Amendment Regulations, 2021. (2) They shall come into force on the date of their publication in the Official Gazette and food business operator shall comply with all the provisions of these regulations with effect from 1st February, 2022.

PFRDA circular on Central KYC Records Registry (CKYCR)

July 26, 2021 747 Views 0 comment Print

Once KYC Identifier is generated by CKYCR, PoPs shall ensure that the same is communicated in writing and in confidential manner to the subscribers in accordance with Rule 9 (1B) of the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005 as amended;

Customs Duty on Mosur Dal reduced from 30% to 10%

July 26, 2021 1095 Views 0 comment Print

To give relief to consumers, the Government has reduced Customs Duty on Mosur Dal from 30% to 10%. (Basic Customs Duty reduced from 10% to ‘Nil’ and Agriculture Infrastructure Development Cess reduced from 20% to 10%). This will bring down the retail price of Mosur Dal. seeks to amend notification No.50/2017-Customs, dated the 30th June, […]

ICAI: Applicable date of certain deferred provisions of Revised Code of Ethics, 2019

July 26, 2021 633 Views 0 comment Print

As the members are aware, the revised 12th edition of Code of Ethics has come into effect from 1st July, 2020. It is accessible on www.icai.org. It may further be recalled that the Council at its 393rd Meeting held on 30th June and 1st July, 2020 decided that due to the prevailing situation due to Covid-19, the effective date of the following provisions of Volume-I of Code of Ethics, 2019 be deferred till further notification

Analysis of amendment in section 16 & Rule 33A of Companies (Incorporation) Rules, 2014

July 26, 2021 2076 Views 0 comment Print

Pursuant to amendment in section 16 of the Act, the Central Government has incorporated Rule 33A in the Companies (Incorporation) Rules, 2014 for prescribing provisions for allotment of a new name to the existing company under section 16(3) of the Act.

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