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CESTAT set aside service tax demand on Liquidated Damages/EMD Forfeiture etc.

December 22, 2020 7734 Views 0 comment Print

South Eastern Coalfields Ltd. Vs Commissioner of Central Excise and Service Tax (CESTAT Delhi) The Principal Bench of Hon’ble CESTAT set aside the Service Tax demand of Rs. 32.76 Crores approx., plus equal penalty and applicable interest, on the amount of Liquidated Damages / Forfeiture of EMD / Penalty recovered from the various contractors & […]

Coal Import now subjected to Coal Import Monitoring System

December 22, 2020 3555 Views 2 comments Print

he Coal Import Monitoring System (CIMS) shall require importers to submit advance information in an online system for import of items and obtain an automatic Registration Number by paying registration fee of Rs. 1 per thousand, subject to minimum of Rs. 500/- and maximum of Rs. 1 lakh, on CIF value.

Honda Cars not liable to Service Tax on amount retained after cancellation

December 22, 2020 1032 Views 0 comment Print

Honda Cars India Ltd. Vs The Commissioner, Central Excise and Service Tax (CESTAT Delhi) The charge leveled against the appellant, in the show cause notice, that JPY 130,000,000/- was paid towards the first installment mentioned in the Technical Agreement/ Model Agreement amounting to JPY 400,000,000/- is factually incorrect. As noticed above, JPY 130,000,000/- was paid […]

ADD investigation on imports of Carbon Black used in Rubber Applications

December 22, 2020 1473 Views 0 comment Print

Final Findings Case No. AD-SSR-10/2020 Sunset Review investigation concerning imports of Carbon Black used in Rubber Applications originating in or exported from China PR and Russia- Final Findings

Draft Insurance Ombudsman (Amendment) Rules, 2020

December 22, 2020 1215 Views 0 comment Print

These rules may be called the Insurance Ombudsman (Amendment) Rules, 2020. In the Insurance Ombudsman Rules, 2017, for the words Executive Council of Insurers, the words Council for Insurance Ombudsmen shall be substituted wherever they occur.

Mumbai Police issue prohibitory orders under Section 144

December 22, 2020 1542 Views 0 comment Print

Mumbai Police issue prohibitory orders under Sec 144 banning assembly of 5 or more persons from 22.12.2020 to 5.1.2021

Checklist to Avoid Mistakes in Filing ITR 7 for AY 2020-21

December 21, 2020 3288 Views 0 comment Print

Central Board of Direct Taxes Directorate of Income Tax (Systems) E-2, A.R.A. Centre, Ground Floor Jhandewalan Extension New Delhi – 110055 Checklist to Avoid Mistakes in Filing ITR 7 for AY 2020-21 S. N. Exem-ption claimed under section Return furn-ished section Registr-ation / Approval under section Regist-ration Details Comp-ulsory Appli-cable income Sche-dules to be filled […]

DGFT amends import policy of Copra & Coconut Oil

December 21, 2020 3597 Views 0 comment Print

Import of Copra under HS Code 1203 00 00 is allowed through MMTC; while import of Coconut oil- under HS codes 1513 11 00 (Crude) and 1513 19 00 (Others) is allowed through STEs, except STC. MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) New Delhi, the 21st December, 2020 […]

SEBI Reviews inclusion of Historical Scenarios in Stress Testing in Commodity Derivatives Segment

December 21, 2020 426 Views 0 comment Print

SEBI received representation to review the requirement of including all the price movements during the last 15 years, in the historical scenarios prescribed for stress testing.

8th Instalment of Rs. 6,000 crore released to States

December 21, 2020 291 Views 0 comment Print

8th Instalment of Rs. 6,000 crore released to the States as back to back loan to meet the GST compensation shortfall. A total amount of Rs. 48,000 crore released so far to all States and UTs with legislation. This is in addition to additional borrowing permission of Rs. 1,06,830 crore granted to the States

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