Inland Vessels Bill, 2021 is introduced in Lok Sabha on 22/07/2021. Inland Vessels Act, 2021 is A Bill to promote economical and safe transportation and trade through inland waters, to bring uniformity in application of law relating to inland waterways and navigation within the country, to provide for safety of navigation, protection of life and […]
The Indian Customs is continuously monitoring the import clearances of edible oils in co-ordination with Food Safety and Standards Authority of India (FSSAI). It is seen that the import clearance time for edible oil has come down significantly to approx. 3-4 days at present which is the usual time taken for sampling, duty payment and logistics.
In re Manjunatha Fruit Canning Industries (GST AAR Andhra Pradesh) Question: Can the Mango Pulp be treated as fresh fruit and exemption be claimed? If not whether the mango pulp falls under the heading 20079910 or 0804? Answer: Negative Question: What is the rate of tax payable on outward supplies of Mango fruit pulp under […]
RBI has today imposed restrictions on Mastercar md Asia / Pacific Pte. Ltd. (Mastercard) from on-boarding new domestic customers (debit, credit or prepaid) onto its card network from July 22, 2021.
Vide Notification No. 80/2021-Income Tax | Dated: 14th July, 2021 CBDT notifies Tax Exemption to ‘Haryana Labour Welfare Board’, a Board constituted by the State Government of Haryana, in respect of the specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi […]
CBIC has recently comprehensively reviewed the implementation of Faceless Assessment and deliberated on the further measures required for expediting the pace of assessment and Customs clearance of imported goods.
The claims for assistance under the TMA Scheme for the quarters ending on 31.03.2020 and 30.06.2020 can be filed upto 30th September, 2021. Public Notice No. 14/2015-2020 | Dated The 13th July, 2021. Government of India Ministry of Commerce and Industry Department of Commerce Udyog Bhavan, New Delhi New Delhi Public Notice No. 14/2015-2020 | […]
Insolvency Professional Agency of Institute of Cost Accountants of India (Section 8 Company registered under the Companies Act, 2013) The Insolvency Professional Agency of the Institute of Cost Accountants of India (IPA ICAI), a Section 8 Company incorporated under Companies Act 2013 has been promoted by the Institute of Cost Accountants of India (Institute) and […]
Trimm Exports Private Limited Vs DCIT (Karnataka High Court) The issue which arises for consideration in this appeal is whether an amount of Rs.1 Crore paid as compensation by the appellant to the lessee can be claimed as expenses incurred in connection with transfer of the capital asset. The assessee was the owner of land […]
Exemption under Section 54 of the Act is dependent on the date of acquisition of the property and not on the date of payment made in respect of such property. It is also noteworthy to mention that to claim an exemption under Section 54F of the Act, it is not necessary that the same sale consideration should be used for construction of a new house property.
