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Increase in Price of ‘Sujata Mixer Grinder’ post reduction in GST rate was profiteering: NAA

March 3, 2020 3180 Views 0 comment Print

It is found that Respondent had increased the base prices of `Sujata Mixer Grinder 900W’ when the rate of GST was reduced from 28% to 18% w.e.f. 27.07.2018, so that the commensurate benefit of GST rate reduction was not passed on to his recipients.

Notification No. 19/2020-Customs (N.T./CAA/DRI), Dated: 03.03.2020

March 3, 2020 900 Views 0 comment Print

Appointment of CAA by DGRI- Notification No. 19/2020-Customs (N.T./CAA/DRI), Dated: 03.03.2020 Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Directorate of Revenue Intelligence Notification No. 19/2020-Customs (N.T./CAA/DRI) New Delhi, dated the 03.03.2020 S.O. 983(E).— In pursuance of notification No. 60/2015-Customs (N.T.), published vide number G.S.R. 453(E), dated […]

Exemption Free Income Tax Regime

March 3, 2020 975 Views 0 comment Print

he Hon’ble Finance Minister while presenting the Union budget for financial year (FY) 2015-16 stated that the deductions and incentives given to corporate taxpayers under the Income-tax Act, 1961 (the Act) will be phased out over four years while simultaneously reducing the tax rates. It was also stated that this will lead to making our industry competitive, reduce tax litigation and prevent revenue loss.

Reg. Imposition of Safeguard Duty on imports of Solar Cells

March 3, 2020 2100 Views 0 comment Print

Initiation of Review Investigation for continued imposition of Safeguard Duty on imports of ‘Solar Cells whether or not assembled in modules or panels’ into India.

Banking Regulation (Amendment) Bill, 2020

March 3, 2020 6081 Views 1 comment Print

Government introduces Banking Regulation (Amendment) Bill, 2020 in Lok Sabha to bring the co-operative banks on par with the developments in the banking sector through better management and proper regulation of co-operative banks with a view to ensure that the affairs of the co-operative banks are conducted in a manner that protects the interests of […]

ICAI President’s Message For The Month of March, 2020

March 2, 2020 978 Views 0 comment Print

I am happy to share with you  that we have more than 80000 women CAs and close to 300000 girl students pursuing CA Course. The strength of women in the profession is growing at faster pace which is a positive sign. I wish you all happy Women’s day and my heartiest congratulations on this great occasion.

Govt amends West Bengal Sales Tax (Settlement of Dispute) Rules, 1999

March 2, 2020 7953 Views 1 comment Print

Govt notifies Application for settlement of arrear tax, interest, late fee or penalty in dispute under section 5 of the West Bengal Sales Tax (Settlement of Dispute) Act, 1999.

GST on renting of 2 BHK unit and dormitory

March 2, 2020 3396 Views 0 comment Print

In re Acharya Shree Mahashraman Chaturmas Pravas Vyvastha Samiti Trust (GST AAAR Karnataka) In the instant case, the Appellant had erected temporary accommodations at Kumbalagodu Village, Mysore Road, KengeriHobli, Bangalore North Taluk where the religious event was conducted. We find that the Appellant is not renting out ‘rooms’ but rather is renting out units of […]

SEBI (Infrastructure Investment Trusts) (Amendment) Regulations, 2020

March 2, 2020 702 Views 0 comment Print

1. These regulations may be called the Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2020. 2. They shall come into force on the date of their publication in the Official Gazette.

GST on ex-factory inter-State supplies

March 2, 2020 10680 Views 0 comment Print

In re M/s. Penna Cement Industries Limited (GST AAR Telangana) In case of ex-factory inter-State sales affected by the applicant, the goods are made available by the supplier to the recipient at the factory gate, but this is not the point where movement terminates since the recipient subsequently assumes the charge for transportation of the […]

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