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Transport documents can be produced in electronic form

November 19, 2018 4977 Views 0 comment Print

As per the amended provision, the citizen can produce the transport related documents such as registration, insurance, fitness and permit, the driving licence, certificate for pollution under check and any other relevant documents, if required, in physical or electronic form of on demand by any police officer in uniform or any other officer authorized by the State Government in this behalf.

Beneficiaries not Taxable for Fund invested by Trust in Swiss Bank

November 17, 2018 1209 Views 1 comment Print

Deepak B. Shah Vs ACIT Mumbai (ITAT Mumbai) In the present case the Income Tax Department sought to tax fund lying in a Swiss bank account as “Unaccounted Income” in the hands of two residents of Mumbai. The appellants maintained account in Swiss Bank stated that they had no contribution in the said account as […]

Guidelines on Value Free Transfer (VFT) of Government Securities

November 16, 2018 2943 Views 0 comment Print

Value Free Transfer (VFT) of the government securities shall mean transfer of securities from one SGL/CSGL to another SGL/CSGL account, without consideration.

Customs Rate of Exchange of Foreign Currency Conversion wef 16.11.2018

November 15, 2018 1035 Views 0 comment Print

Customs Rate of Exchange of Foreign Currency Conversion wef 16.11.2018 notified vide Notification No. 93/2018 – Customs (N.T.) dated 15th November, 2018.

GST paid under one Head can be adjusted under another head: HC

November 15, 2018 22044 Views 0 comment Print

Saji S. Vs. Commissioner, State GST Department (Kerala High Court at Ernakulam) The petitioner, who is the consignee and transporter, insists that the consignor paid the tax and penalty under that only based on the ASTO’s directions. But the fact remains that the remittance must have been under the head ‘IGST’. So the authorities have […]

SEBI (Delisting of Equity Shares) (Second Amendment) Regulations, 2018

November 14, 2018 2070 Views 0 comment Print

These regulations may be called the Securities and Exchange Board of India (Delisting of Equity Shares) (Second Amendment) Regulations, 2018. They shall come into force on the date of their publication in the Official Gazette.

Liberalization of visa regime of India during the last one year 

November 14, 2018 618 Views 0 comment Print

India has a robust visa regime to facilitate smooth entry, stay and movement of foreigners in India for legitimate purposes while ensuring the security of the country. During the last one year, the MHA has taken a series of steps to liberalize the visa process in India.

GST Council may have to take a view on the funding of NDRF

November 14, 2018 399 Views 0 comment Print

Impact on revenues of state govt’s due to GST is important as states are the first responders in case of any disasters. How should the National Disaster Response Fund (NDRF) be funded in GST era, Issue of cess on GST for the purpose of funding disaster response are some policy level issues on which GST Council may have to take a view.

Supply of service to Companies cannot be regarded as Service to Govt: AAAR

November 14, 2018 1200 Views 0 comment Print

In re IL & FS Education and Technology Services Limited (GST AAAR Odisha) We notice that the Authority for Advance Ruling. Odisha, in their findings (para 5 3 of the Order)has clearly observed that OKCL was promoted by the Higher Technical education department Govt of Odisha and was incorporated under the Compares Act 1956 as […]

Service tax not payable on amount received towards mobilization advance of contract from Indian Navy

November 13, 2018 2145 Views 0 comment Print

Hindustan Shipyard Ltd. Vs Commissioner of Central Excise (CESTAT Hyderabad) As far as the amounts received by the appellant from the Indian Navy for the purpose of upgrading their facilities at the shipyard are concerned, they are not linked to the present contract and hence can only be termed mobilization advances not linked to any […]

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