It has been decided that the requirement of obtaining permission from the RBI be dispensed with and that henceforth, banks may, based on the approval of their Board, provide cash withdrawal facility at PoS terminals. The designated merchant establishments may be advised to clearly indicate / display the availability of this facility along with the charges, if any, payable by the customer.
Import policy of Stock Lot under HSN Code 4810 of Chapter 48 of ITC(HS), 2017 is revised from ‘Free’ to ‘Prohibited’ vide Notification No. 45/2015-2020 dated 31st January, 2020. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Notification No. 45/2015-2020-DGFT New Delhi, Dated: 31st January, 2020 Subject: […]
Central Government designates the Court of Special Judge (Prevention of Corruption Act) (Central Bureau of Investigation)-09, Rouse Avenue Court Complex, New Delhi of Shri Ajay Kumar Kuhar, Delhi Higher Judicial Services as Special Court for dealing with and trial of offence of the Money Laundering under the Prevention of the Money Laundering Act, 2002 (PMLA, […]
Certain instances of fraudulent advertisements and emails relating to the Central Bureau of Investigation (CBI) Internship Scheme have come to the Agency’s notice. These are being spread on some platforms to attract young professionals.
Provision for card receivables (NPA) could not be said to be a provision for liability, because even if debt was not recoverable no liability could be fastened upon assessee. Clause (c) of Expln. to section 115JA did not get attracted and AO was not justified in adding back provision for card receivables (NPA) writen back while computing book profit.
The Chamber of Tax Consultants has made a represenation to Hon’ble Finance Minister and submitted that compliance with section 269SU read with Rule 119AA will not only result in incurrence of additional cost but also result into lot of administrative hassle and inconvenience for no value addition. Considering the genuine hardships to the specified categories […]
Manual filing of Appeal Applications, is being replaced by online automated filing of Appeal Applications under VAT and CST Act. After the Go Live of Assessment Module, Appeal Module is being rolled out.
Withdrawal of MEIS for items in the Apparel and Made-ups sector (Chapter 61, 62 and 63 of ITC HS 2017) from 07.03.2019, Amendment in the para 4.95 of the Handbook of Procedures, 2015-20 and revision of the ANF 4R for Implementation of RoSCTL Scheme
Notification No. 8/2020-Income-Tax- CBDT has notified Other electronic modes by inserting New Income TAx Rule 6ABBA. It also amended marginal heading of rule 6DD and in rule 6DD for the words ‘account payee bank draft, exceeds twenty thousand rupees’, the words, figures and letters ‘account payee bank draft or use of electronic clearing system through […]
The tariff items and descriptions of goods in the said Schedule are aligned with the tariff items and descriptions of goods in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) at the four-digit level only. The descriptions of goods given at the six digit or eight digitin the said Schedule are in several cases not aligned with the descriptions of goods given in the First Schedule to the Customs Tariff Act, 1975.
