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Appeal before ITAT having tax effect of less than Rs.50 lakh have to be treated as withdrawn

April 12, 2023 3804 Views 0 comment Print

ITO Vs Sk. Sahanewaj Ali (ITAT Kolkata) CBDT had modified Circular No. 3 of 2018 dt. 11/07/2018. Further, the CBDT in its circular F. No. 279/Misc./M-93/2018-ITJ, dt. 20/08/2019, has clarified that the revised monetary limits, so mentioned in Circular No. 17/2019 is applicable to all pending appeals. As per these circulars all the revenue appeals […]

SEBI unveiled New Logo

April 12, 2023 2583 Views 0 comment Print

Securities and Exchange Board of India PR No.8/2023 New Logo of SEBI unveiled on the occasion of SEBI Foundation Day Securities Market regulator, SEBI has a new logo from today. The new logo was unveiled at a function held at SEBI Head Office, Mumbai on the occasion of SEBI Foundation Day in the presence of […]

RBI permits AD Category-II entities to submit Form A2 online

April 12, 2023 3129 Views 0 comment Print

RBI decided to permit AD Category-II entities to allow online submission of Form A2. AD Category-II entities shall frame appropriate guidelines with the approval of their Board within the ambit of extant statutory and regulatory framwework.

Finance Act, 2023 Corrigenda

April 12, 2023 3594 Views 0 comment Print

MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 12th April, 2023 CORRIGENDA THE FINANCE ACT, 2023 No. 8 OF 2023 In the Finance Act, 2023 (8 of 2023), published in the Gazette of India, Extraordinary, Part II, Section 1, dated the 31st March, 2023, Issue No. 8,— (i) in page 15, line 26, […]

Revenue cannot classify products under HSN other than one proposed in SCN

April 12, 2023 816 Views 0 comment Print

Once the show cause notice proposes a particular classification it is not open to Adjudicating authority to classify the goods under a different If the revenue wishes to change the classification a separate show cause notice is required to be issued within permissible time.

HC quashes GST notice issued in the name of a dead person

April 12, 2023 1830 Views 0 comment Print

GST order dated 3rd August, 2022 is quashed on the ground that the same has been issued in the name of a dead person.

Draft Circular on Fair Lending Practice – Penal Charges in Loan Accounts

April 12, 2023 1569 Views 0 comment Print

Supervisory reviews have indicated divergent practices amongst REs with regard to levy of penal interest/charges leading to customer grievances and disputes.

GST on Government subsidy – Advance ruling filed by recipient dismissed

April 12, 2023 714 Views 0 comment Print

GST on Government subsidy – Applicant is not a supplier of goods but is a recipient of goods. Thus instant application is not admissible.

Service tax cannot be demanded on reimbursable expenses

April 12, 2023 510 Views 0 comment Print

Issue is as to whether service tax can be demanded on reimbursable expenses. CESTAT held that demand cannot sustain & requires to be set aside

Anti-dumping duty on imports of Ursodeoxycholic Acid (UDCA) imposed

April 10, 2023 1536 Views 0 comment Print

Seeks to impose definitive anti-dumping duty on imports of Ursodeoxycholic Acid (UDCA) originating in or exported from China PR and Korea RP for a period of 5 Years.  Notification No. 04/2023-Customs (ADD)- Dated: 10th April, 2023

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