Absence of adequate controls, risk of claiming refund on unverified ITC and deficiencies in integration of GST Portal with the Indian Customs EDI Systems (ICES) application for IGST refund on export of goods resulted in following deficiencies in Refund module:
Central Government hereby rescinds notification No. 10/2016-Customs (ADD), dated the 29th March, 2016, except as respects things done or omitted to be done before such rescission. Notification No. 16/2021-Customs (ADD) Dated: 26th March, 2021 MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 26th March, 2021 Notification No. 16/2021-Customs (ADD) G.S.R. 214(E).—In exercise of the […]
Radhika Roy Vs SEBI (Supreme Court) FULL TEXT OF THE SUPREME COURT JUDGMENT/ORDER 1 We have heard Mr Mukul Rohatgi, senior counsel for the appellants and Mr Tushar Mehta, Solicitor General of India for the respondent. 2 By its order dated 15 February 2021, the Securities’ Appellate Tribunal (SAT) disposed of an application for stay […]
Discovery Estates Pvt. Ltd. Vs ACIT (ITAT Delhi) In the case, the issue in dispute is regarding the head under which rental income is to be taxed. The assessee is earning rental income from commercial malls and offered the same under the head ‘Profit and Gains of Business or Profession’. The rental income has been […]
Gemson Melt Pvt. Ltd. Vs Union of India (Gauhati High Court) In the absence of any clear finding by the Assistant Commissioner, Central Excise to support its disagreement with the finding of fact by the Commissioner of Appeals, mere disagreement with the order of the Higher Authority, namely, Commissioner (Appeals) will be opposed to the […]
High Court held that Personal hearing must be afforded to taxpayer before cancellation of GST Registration. As in this case no such Opportunity was afforded to Taxpayer so High Court has Quashed the Cancellation order.
The CBDT vide Circular No.17/2019 dated 08.08.2019 has revised the monetary limit for filing the appeals before the Tribunal to Rs.50 Lacs. Further, CBDT vide letter dated 20.08.2019 has also clarified that Circular No. 17/2019 would be applicable to all pending appeals.
IFSCA notifies International Financial Services Centres Authority (Banking) (Amendment) Regulations, 2021 i.e. IFSCA (Banking) (Amendment) Regulations, 2021. INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY NOTIFICATION Gandhinagar, the 25th March, 2021 INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY (BANKING) (AMENDMENT) REGULATIONS, 2021 IFSCA/2020-21/GN/REG009.—In exercise of the powers conferred by sub-section (1) of section 28 read with sub-section (1) of section […]
Senior Intelligence Officer Vs KPN Travels India Ltd. (Madras High Court) Learned counsel for the first respondent would submit that by attaching all 14 bank accounts, the business operations of the first respondent have been absolutely crippled and they are unable to pay salaries, discharge creditors, etc. In the light of the above, we direct […]
Applications for Non-Preferential Certificate of Origin may also be submitted through e-CoO platform w.e.f. 15th April 2021. However, there shall be a transition period for CoO(NP) issuing agencies to on-board this common digital platform.
