The quota of 4 Lakh MT is distributed amongst MMTC and NAFED, equally. Therefore, MMTC is allocated total quantity of 2 Lakh MT and 2 Lakh MT is allocated to NAFED under the TRQ Scheme for 2019-20, subject to the conditions mentioned in Trade Notice No.25 dated 09.07.2019.
NCLT reached the conclusion that since the limitation period was 12 years from the date on which the money suit has become due, the aforesaid claim was filed within limitation and hence admitted the Section 7 application. The NCLAT vide the impugned judgment held, following its earlier judgments, that the time of limitation would begin running for the purposes of limitation only on and from 01.12.2016 which is the date on which the Insolvency and Bankruptcy Code was brought into force. Consequently, it dismissed the appeal.
India’s sovereign obligation to keep the information obtained through the EOI process of tax treaties with the other jurisdictions confidential. Any disclosure of the information received under tax treaties with unauthorized persons, either intentionally or by accident, is a serious matter. The field authorities are, therefore, required to take all steps to ensure that the information received under tax treaties is not disclosed inappropriately. This is necessary for continued co-operation in the EOI process from our treaty partners.
In re N. Ranga Rao & Sons Pvt Ltd (GST AAR Karnataka) Hearing was granted and in the Hearing, the applicant was given to know that the issue raised before the Advance Ruling Authority is not maintainable as it questioned the vires of the Notification amending the Rules and it was not within the scope […]
In re Sri Venkateshwara Enterprises (GST AAR Karnataka) A. Whether the printed text books for PUC Board classifiable under HSN Code 4901 1010 supplied to resellers is exempt from the payment of CGST and SGST? The printed text books, classifiable under HSN Code 4901, supplied to resellers are covered under Entry No.119 of Notification No.02/2017 […]
Income tax Department department has introduced an e-filing facility for filing of appeal at the first appellate level i.e. the Commissioner of Income-tax (Appeals). This article explains the e-filing facility in simple user-friendly steps and puts forth in simple language, the relevant provisions and procedures under the Income-tax Act relating to filing of appeal before […]
ITC Limited Vs Commissioner of Central Excise (Supreme Court) As the order of self assessment is nonetheless an assessment order passed under the Act, obviously it would be appealable by any person aggrieved thereby. The expression ‘Any person’ is of wider amplitude. The revenue, as well as assessee, can also prefer an appeal aggrieved by […]
(1) These rules may be called the Prevention of Money-laundering (Maintenance of Records) Fourth Amendment Rules, 2019. (2) They shall come into force on the date of their publication in the Official Gazette.
Representation on Extension of last date of filing of Income Tax Returns in Audit cases & Tax Audit Reports from 30.09.2019 to 15.11.2019 by District Taxation Bar Association (Direct Taxes), Ludhiana to Union Finance Minister, Smt. Nirmala Sitharaman. DISTRICT TAXATION BAR ASSOCIATION (REGD.) (DIRECT TAXES) Aayakar Bhawan, Rishi Nagar, Ludhiana – 141 001. Tel : […]
It has come to the notice of the Directorate of Systems that the Assessing officers continue to share their RSA token and ITBA password with their Inspectors and staff for working on ITBA/ITD, in complete disregard of the security policy. The following table conveys the extent of the problem:
