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Bar Council of Punjab & Haryana postpones election to 17.04.2020

March 17, 2020 915 Views 0 comment Print

The Bar Council is also concerned about the democratic process of annual elections of the Bar Associations in Punjab, Haryana and Chandigarh including High Court Bar Association. The magnitude of outbreak COVID-19 has compelled the Bar Council to postpone the date of election from 3rd April 2020 to 17th April 2020 to maintain level playing field for all candidates.

Sunset review Investigation concerning imports of “Flexible Slabstock Polyol” from Singapore

March 17, 2020 762 Views 0 comment Print

The original investigation was initiated to examine the nature and extent of dumping and its effect on the situation of the Domestic Industry with respect to Flexible Slabstock Polyol originating in or exported from Singapore, Australia and EU.

RBI revises definition of lending to affordable housing

March 17, 2020 3072 Views 0 comment Print

Housing loans eligible to be classified under priority sector lending (as updated from time to time) and housing loans to individuals for acquiring dwelling units within the prescribed threshold under the affordable housing definition in the HML.

DGFT notifies Proformae of application and end use certificate

March 17, 2020 1131 Views 0 comment Print

The proformae of application and end use certificate are being notified to implement the Policy on Global Authorisation for Intra-Company Transfers (GAICT) for export/re-export of dual use SCOMET items / software/ technology, between Indian subsidiary to its foreign parent company and/or to subsidiaries of foreign parent company.

GST Advance ruling cannot be sought on goods not in existence

March 17, 2020 1161 Views 0 comment Print

Goods in respect of which supply being undertaken or proposed to be undertaken, should be existing. In the subject case applicant has submitted that they are proposing to manufacture the impugned product, which are presently not in existence. Thus their application is also barred under Section 95 of the CGST Act.

Threaded metal nuts classifiable under Tariff item 73181600

March 17, 2020 1167 Views 0 comment Print

In re A Raymond Fasteners India Pvt. Ltd (GST AAR Maharashtra) Q. Whether Threaded metal nuts which function same as standard nut, merits classification under the Tariff item 7318 16 00 & not under Tariff item 8708 99 00? A. In view of the discussions made above, Threaded metal nuts merits classification under the Tariff […]

No jurisdiction to rule on issuing Credit note without charging GST on post-sale discounts- AAR

March 17, 2020 3084 Views 0 comment Print

Whether the applicant can issue commercial credit note to its dealers for post-sale discounts without charging GST. Hence, it is held that this AAR does not have jurisdiction to pass any ruling on such matters.

Rice Bran (22+oil) falls under HSN 38259000; Attracts 18% GST

March 17, 2020 3672 Views 0 comment Print

In re Pratham Agro Vet Industries (GST AAR Gujarat) The product Rice Bran(22+oil) shall be classified under Chp heading 38259000 and attracts rate 9 % CGST and 9 % SGST under vide Sr no 98 of Schedule III of notification no.1/2017-Central Tax (Rate) of CGST Act and corresponding notification of SGST Act. Read AAAR Ruling […]

ICAI Postpones Practical Training Assessment to be held on 22.03.2020

March 17, 2020 633 Views 0 comment Print

ICAI Practical Training Assessment scheduled to be held on March 22, 2020 stands postponed for all locations in India and Dubai. Fresh date will be announced shortly.

Govt introduces Companies (Amendment) Bill, 2020 in Lok Sabha

March 17, 2020 3195 Views 0 comment Print

Government introduces Companies (Amendment) Bill, 2020 in Lok Sabha on 17th March 2020.  The Companies (Amendment) Bill, 2020, inter alia, provides for the following, namely:— (a) to decriminalise certain offences under the Act in case of defaults which can be determined objectively and which otherwise lack any element of fraud or do not involve larger […]

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