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Resubmission of applications for claiming assistance under TMA

February 4, 2020 1728 Views 1 comment Print

One-time permission for resubmission of applications for claiming assistance under `Transport and Marketing Assistance (TMA) for Specified Agriculture Products’ Scheme.

Common Application Form for Foreign Portfolio Investors

February 4, 2020 1626 Views 0 comment Print

Common Application Form (CAF) for the purpose of (a) registration of Foreign Portfolio Investors (FPIs) with Securities and Exchange Board of India, (b) allotment of Permanent Account Number (PAN) and (c) carrying out of Know Your Customer (KYC) for opening of Bank & Demat Account.

Undermining Markets: When Government Intervention Hurts More Than It Helps

February 3, 2020 1413 Views 0 comment Print

Every moment one should learn, from every bit one should earn. If you waste a second you can’t get knowledge and if you waste a bit u can’t get money. Government intervention, sometimes though well intended, often ends up undermining the ability of the markets to support wealth creation and leads to outcomes opposite to […]

Section 69B addition merely based on confession statement recorded during search not sustainable

February 3, 2020 2163 Views 0 comment Print

PCIT Vs Nageshwar Enterprises (Gujarat High Court) A Co-ordinate Bench of this Court, in the case of Kailashben Manharlal Chokshi vs. Commissioner of Income-tax, 328 ITR 411, took the view that merely on the basis of admission, the assessee cannot be subjected to additions. The Co-ordinate Bench proceeded to observe that unless and until some […]

Refund of unutilized ITC inadmissible if goods exported out of India were subjected to export duty

February 3, 2020 2481 Views 0 comment Print

In re Chowgule and Company Private Limited (GST AAAR Goa) In the instant case alo, the exported goods are specified in the Second Schedule to the Customs Tariff Act, 1975 as subjected to export duty; while by a Notification issued under Section 25 (1) of the Customs Act, the same were exempted. Hence, the ratio […]

Obligatory Cessions to Indian Re-insurers for FY 2020-21

February 3, 2020 1482 Views 0 comment Print

The percentage cession of the sum insured on each General Insurance Policy to be reinsured with the Indian Re-insurer(s) shall be 5% (five percent) in respect of insurance attaching during the financial year beginning from 1st April, 2020 to 31st March, 2021, except the terrorism premium and premium ceded to Nuclear pool, wherein it would be made NIL. The entire Obligatory Cession is to be placed with General Insurance Corporation of India (GIC Re) only.

Notification No. 14/2020-Customs (N.T./CAA/DRI) Dated 03.02.2020

February 3, 2020 1101 Views 0 comment Print

Appointment of Common Adjudicating Authority by DGRI- Notification No. 14/2020-Customs (N.T./CAA/DRI) Dated 3rd February 2020. Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Directorate of Revenue Intelligence Notification No. 14/2020-Customs (N.T./CAA/DRI) New Delhi, dated the 3rd February 2020 S.O.  (E). – In pursuance of notification No. 60/2015-Customs […]

Notification No. 13/2020-Customs (N.T./CAA/DRI), Dated: 03.02.2020

February 3, 2020 921 Views 0 comment Print

S.O.562(E). – In pursuance of notification No. 60/2015-Customs (N.T.), published vide number G.S.R. 453(E), dated 4th June 2015 in Gazette of India, Extra-ordinary, Part-II, section 3, sub-section (i), and as amended by notification No. 133/2015-Customs (N.T.), published vide number G.S.R. 916(E) dated 30th November 2015 in Gazette of India, Extra-ordinary, Part-II, section 3, sub-section (i), issued by the Government of India

Entrepreneurship and Wealth Creation at the Grassroots

February 2, 2020 2253 Views 0 comment Print

The ‘Startup India’ campaign of the Government of India recognizes entrepreneurship as an increasingly important strategy to fuel productivity growth and wealth creation in India. Given this initative, this chapter examines the content and drivers of entrepreneurial activity at the bottom of the administrative pyramid – over 500 districts in India.

Wealth Creation: The Invisible Hand Supported by the Hand of Trust

February 2, 2020 3234 Views 0 comment Print

For more than three-fourths of known economic history, India has been the dominant economic power globally. Such dominance manifested by design. During much of India’s economic dominance, the economy relied on the invisible hand of the market for wealth creation with the support of the hand of trust. Specifically, the invisible hand of markets, as reflected in openness in economic transactions, was combined with the hand of trust by appealing to ethical and philosophical dimensions.

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