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Classification of imported Fuel Cell System for use in manufacturing of Hydrogen Fuel Cell Vehicles

December 7, 2022 2115 Views 0 comment Print

Fuel Cell System which is made up of seven components viz. Fuel Processing System. Fuel cell stack module. Air Processing System. Thermal Management System, Electric module. FCS monitoring control and module and DC DC Converter proposed to be imported by the applicant merits classification under CTH 85.01 and more specifically under CTH 8501 33 20.

RBI increase Policy rates by 35 basis points

December 7, 2022 1296 Views 0 comment Print

On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (December 7, 2022) decided to: Increase the policy repo rate under the liquidity adjustment facility (LAF) by 35 basis points to 6.25 per cent with immediate effect.

IRDAI (Other Forms of Capital) Regulations, 2022

December 5, 2022 3114 Views 0 comment Print

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA NOTIFICATION Hyderabad, the 5th December, 2022. Insurance Regulatory Development Authority of India (Other Forms of Capital) Regulations, 2022 F. No. IRDAI/Reg/8/187/2022.—In exercise of the powers conferred by Section 6A (1) (i) and Section 114A (2) (db) of the Insurance Act, 1938, section 26 of the Insurance Regulatory and […]

IRDAI (Insurance Intermediaries) Amendment) Regulations, 2022

December 5, 2022 5853 Views 0 comment Print

These Regulations may be called the Insurance Regulatory and Development Authority of India (Insurance Intermediaries) (Amendment) Regulations, 2022.

SEBI (Listing Obligations and Disclosure Requirements) (Seventh Amendment) Regulations, 2022

December 5, 2022 3945 Views 0 comment Print

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 5th December, 2022 SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUI REM ENTS) (SEVENTH AM ENDM ENT) REGULATIONS, 2022 No. SEBI/LAD-NRO/GN/2022/109.—In exercise of the powers conferred by section 11, sub­section (2) of section 1 1A and section 30 of the Securities and Exchange […]

Flavored Milk for Tea Preparation classifiable under heading 04012000

December 3, 2022 1296 Views 0 comment Print

Product ‘Flavored Milk for Tea Preparation’ is found to be “Tea Milk” and it should be classified under Chapter 04 under heading 0401 20 00.

Cenvat credit of service tax paid on outward GTA service – CESTAT directs Commissioner (Appeals) to decide afresh

December 2, 2022 786 Views 0 comment Print

It appeared that any service availed after clearance of finished goods beyond the place of removal is not an input service and therefore, the appellant are not eligible to avail cenvat credit of service tax paid on outward GTA service.

No penalty if Service Tax demand along with interest paid before issue of SCN

December 2, 2022 1656 Views 0 comment Print

Org Informatics Limited Vs Commissioner of Central Excise & ST (CESTAT Ahmedabad) Submission of appellant is that Such matter cannot be taken as evasion of service tax, the matter is revenue neutral as the Cenvat credit of service tax is always admissible and it is a fit case, for invocation of Section 80 of the […]

Service of Section 143(2) notice within statutory time limit is mandatory

December 2, 2022 3687 Views 0 comment Print

Service of notice under Section 143(2) of the Act within the statutory time limit is mandatory one and not a procedural requirement.

Approval under section 80G cannot be subjected to any condition

December 2, 2022 2775 Views 0 comment Print

Approval under section 80G sought for by the assessee cannot be subjected to any condition as there is an inbuilt mechanism to be complied with by assessee after getting registration/approval under section 12AA and 80G

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