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TIEA between India and Brunei signed on 28.02.2019

February 28, 2019 2328 Views 0 comment Print

Government of Republic of India and the Government of His Majesty the Sultan And Yang Di-Pertuan Of Brunei Darussalam signed an Agreement for the Exchange of Information and Assistance in Collection with respect to Taxes (TIEA) on 28th February 2019 at New Delhi.

HC dismisses petition against amendments in PMLA through Money Bill

February 28, 2019 1275 Views 1 comment Print

Mr. Jairam Ramesh Vs Union of India and Ors (Delhi High Court) There is no dispute that the petitioner herein is a Member of Rajya Sabha. The plea of Mr. Chidambram that the petitioner was not aware that such amendments have been carried out as Money Bills, is no reason to challenge the amendments, at […]

ICAI President’s Message-March 2019

February 28, 2019 711 Views 0 comment Print

As we know, in a ghastly and gruesome attack on our CRPF personnel in the Pulwama district of Jammu & Kashmir, 40 personnel were killed. We strongly condemn this despicable and cowardly act.

Transport tank mounted on chassis of customer is classifiable under Heading 7311

February 28, 2019 894 Views 0 comment Print

In re M/s. Inox India Pvt. Ltd. (GST AAR Gujarat) Whether supply of transport tank by mounting the same on chassis amount to supply of ‘tank’ classifiable under Heading 7311 or supply of ‘motor vehicle’ classifiable under Heading 8704 in the GST regime ?  The product ‘Container for compressed or liquefied gas, of iron or […]

Jewellery products containing watch classifiable under Heading 9101

February 28, 2019 1848 Views 0 comment Print

In re M/s. House of Marigold (GST AAAR Gujarat) Gujarat Appellate Authority confirms the Advance Ruling given by Gujarat advance ruling authority and rejects the appeal filed by House of Marigold. The products ‘Marigold Butterfly Bridal’ with watch and similar jewellery products containing watch classifiable under Heading 9101. Also Read AAR Ruling – Marigold Butterfly Bridal […]

Promotion of 70 officers in the grade of ACIT on ad-hoc basis

February 28, 2019 5433 Views 0 comment Print

Office Order No. 43 of 2019The President is pleased to appoint the following Income Tax Officers, presently posted in the region shown against their names. in the grade of Assistant Commissioner of Income Tax (ACIT) on ad-hoc basis for the vacancy year 2018 in the Level 10 in the pay matrix Rs. 56100-177500/- for a period of one year with immediate effect or until further orders, whichever is earlier.

Govt notifies part-time members of NFRA wef 28th February, 2019

February 28, 2019 810 Views 0 comment Print

Central Government hereby appoint the following persons as part-time members of National Financial Reporting Authority (NFRA) with immediate effect,

Exposure Draft Revised Guidance Note on Accounting of Political Parties

February 28, 2019 648 Views 0 comment Print

During the year 2012, ICAI had issued a Guidance Note on ‘Accounting and Auditing of Political Parties’ as desired by the Election Commission of India. The Guidance Note is now being upgraded to incorporate certain improvements and changes in the operating environments since then. It has also been decided to issue the guidance for Auditing of Political Parties separately in detailed manner, if required.

Bogus ITC Case: HC denies Bail as bail of co-accused already been dismissed

February 27, 2019 1053 Views 0 comment Print

Sandeep Goyal Vs Union of India (Rajasthan High Court) Petitioners have filed this petition under Section 439 Code of Criminal Procedure, 1973 seeking regular bail in Criminal Complaint No.35/2018 for offence under Sections 132(1)(b)(c)(d)(f)(i) & (i) of the Central Goods and Service Tax Act, 2017 read with Section 132(1), (i) & (iv) of Central Goods […]

Grant of Development Rights is taxable under GST

February 27, 2019 1383 Views 0 comment Print

In re Experion Developers Pvt. Ltd. (GST AAR Haryana) Whether grant of Development rights in the current situation would attract the Levy of GST? If liable, what shall be valuation modus Operandi to tax in GST? Notification 4/2018-CGST(Rate), dated 25.01.2018 notified that the liability to pay tax in case of transfer of development rights in […]

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