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Digi-Locker for ICAI Members and Students

December 23, 2020 5655 Views 1 comment Print

Public Relations Committee The Institute of Chartered Accountants of India 23rd December, 2020 ICAI PRESS RELEASE Digi-Locker for ICAI Members and Students The Institute of Chartered Accountants of India (ICAI) through its Members & Students Services Directorate is taking various initiatives with prime objective to provide best services to its members & students. ICAI constantly […]

ICAI: January 2021 Examination & Exam City Change Application

December 23, 2020 600 Views 0 comment Print

In continuation of announcement dated 7th November 2020 provided an optout facility to the examinees of November 2020 exams to appear in January/ May 2021 examinations, based on candidates opted out/appeared, list of candidates eligible to appear in January/ May 2021 has been finalized.

Expression ‘for use’ means intended for use: HC

December 22, 2020 4365 Views 0 comment Print

Ratnagiri Impex Pvt. Ltd. Vs Commissioner of Customs (Karnataka High Court) The Supreme Court in Dalmia Dadri Cement Ltd. supra while considering the expression ‘for use’ in Section 5(2)(a)(v) of the Punjab General Sales Tax Act held that the aforesaid expression means intended for use. It was further held that inability to prove the actual […]

Despite addition no penalty when Assessee has already disclosed all facts

December 22, 2020 3816 Views 0 comment Print

ACIT Vs Kishangarh Hi Tech Textile Park Ltd. (ITAT Jaipur) Since the assessee has disclosed entire facts in the Balance Sheet with regard to the subsidy of Rs. 36.00 crores received by it and the depreciation at 80% on the entire windmill as a whole has been claimed on the basis of various decisions of […]

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

December 22, 2020 8748 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 4029 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 1236 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 1893 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 1461 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 1890 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

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