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Flat-rolled products of stainless steel cannot be imported under Advance Authorizations

March 6, 2019 975 Views 0 comment Print

Import of Flat-rolled products of stainless steel covered under ITC (HS) Codes: 7219 or 7220 under Advance Authorisation stands deleted from Appendix 4J.

New Delhi International Arbitration Centre Ordinance, 2019

March 4, 2019 642 Views 0 comment Print

MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 2nd March, 2019 NEW DELHI INTERNATIONAL ARBITRATION CENTRE ORDINANCE, 2019 NO. 10 of 2019 Promulgated by the President in the Seventieth Year of the Republic of India. An Ordinance to provide for the establishment and incorporation of New Delhi International Arbitration Centre for the purpose […]

Penalty cannot be levied on Addition of Notional House Property Income

March 3, 2019 2592 Views 0 comment Print

Shri Suresh Shivlal Bhasin Vs ACIT (ITAT Mumbai) As regards imposition of penalty on the addition made on account of notional house property income, it goes without saying that in reality the assessee has not earned any income from house property. The Assessing Officer himself has observed that the addition made on account of income […]

Procedure & Checklist for obtaining Advance Rulings under GST

March 3, 2019 3270 Views 0 comment Print

An application for obtaining an Advance Ruling under sub-section (1) of Section 97 of the CGST/MGST Act and the Rules made thereunder, shall be made in quadruplicate, in FORM GST ARA-01 (Please refer to Annexure-I) i.e. the set of physical four copies to be submitted to the office of the Maharashtra Authority for Advance Ruling (first main copy, two copies for Members of the Maharashtra Authority for Advance Ruling and one copy for Officer) at the below mentioned address:

Special Economic Zones (Amendment) Ordinance, 2019

March 2, 2019 1449 Views 0 comment Print

(1) This Ordinance may be called the Special Economic Zones (Amendment) Ordinance, 2019,(2) It shall come into force at once. In section 2 of the Special Economic Zones Act, 2005, in clause (v) -(i) after the words local authority, the words or trust or entry as may be notified by the Central Government, shall be inserted;

Aadhaar and other Laws (Amendment) Ordinance, 2019

March 2, 2019 2103 Views 0 comment Print

THE AADHAAR AND OTHER LAWS (AMENDMENT) ORDINANCE, 2019 Promulgated by the President in the-Seventieth Year of the Republic of India. An Ordinance to amend the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 and further to amend the Indian Telegraph Act, 1885 and the Prevention of Money-laundering Act, 2002.

Anti-profiteering provisions not apply in absence of reduction in tax rate

March 1, 2019 444 Views 1 comment Print

Kerala State Screening Committee on Anti-Profiteering Vs Director General Anti-Profiteering (NAA) On perusal of the facts of the case and the details provided in the table given above in para 4 it is apparent that there was no reduction of tax with the introduction of GST. The DGAP on examining various facts has categorically mentioned […]

Exposure Draft of Standard on Internal Audit (SIA) 240, Using the Work of an Expert

March 1, 2019 927 Views 0 comment Print

Exposure Draft of Standard on Internal Audit (SIA) 240, Using the Work of an Expert (Comments to be received by March 28, 2019) – (27-02-2019) EXPOSURE DRAFT STANDARD ON INTERNAL AUDIT (SIA) 240 USING THE WORK OF AN EXPERT * The Internal Audit Standards Board of The Institute of Chartered Accountants of India (ICAI) invites […]

CBDT Withdraws approval U/s. 35(1)(ii) of Bioved Research Society

February 28, 2019 2043 Views 0 comment Print

Withdrawal of approval under section 35(1)(ii) of Income-tax Act, 1961 in the case of M/s Bioved Research Society,Allahabad(PAN: AAAA135572D) and request to take appropriate remedial action In the case of donors -reg.-

Exposure Draft of Definition of Material Amendments to Ind AS 1 and Ind AS 8

February 28, 2019 3891 Views 0 comment Print

Following is the Exposure Draft of the Amendments to Ind AS 1, Presentation of Indian Accounting Standards, and Ind AS 8, Accounting Policies, Change in Accounting Estimates and Errors, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India for comments.

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