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Footwear made from all-Rubber and all Polymeric material and its components (Quality Control) Amendment Order, 2020

December 4, 2020 1053 Views 0 comment Print

(1) This Order may be called the Footwear made from all-Rubber and all Polymeric material and its components (Quality Control) Amendment Order, 2020. (2) It shall come into force from the date of its publication in the Official Gazette.

Personal Protective Equipment – Footwear (Quality Control) Amendment Order, 2020

December 4, 2020 699 Views 0 comment Print

(1) This Order may be called the Personal Protective Equipment – Footwear (Quality Control) Amendment Order, 2020. (2) It shall come into force from the date of its publication in the Official Gazette.

External Trade– Facilitation- Export of Goods & Services

December 4, 2020 1392 Views 0 comment Print

With a view to further enhance the ease of doing business and quicken the approval process, it has been decided to delegate more powers to the Authorised Dealer Category – I banks (AD banks) in the areas of Direct Dispatch of Shipping Documents, Write-off of unrealized Export bills, Set-off of Export receivables against Import payables […]

RBI extends LAF and MSF for Regional Rural Banks

December 4, 2020 816 Views 0 comment Print

In order to provide an additional avenue for liquidity management to Regional Rural Banks (RRBs), it has been decided that Liquidity Adjustment Facility (LAF) and Marginal Standing Facility (MSF) will be extended to specified Scheduled RRBs. Reserve Bank of India RBI/2020-21/76 DOR.RRB.No.28/31.01.001/2020-21 December 4, 2020 All Regional Rural Banks Madam/ Sir, Introduction of Liquidity Adjustment […]

ITAT, Mumbai to Resume physical hearing on experimental basis

December 4, 2020 1011 Views 0 comment Print

Resumption of physical hearings, on experimental basis, in the Income Tax Appellate Tribunal, Mumbai benches, with effect from December 7, 2020. The tentative cause lists for A and B bench for the week beginning 7th December 2020 and for C and D benches for the week beginning 14th December 2020 are attached herewith. These cause lists are, however, subject to variations in the light of adjournments, consolidations and early hearings being granted.

Bad Debt cannot be claimed as deduction unless written off in Books

December 4, 2020 3567 Views 0 comment Print

Landmark judgment on claimed compensation & business expenditure. High Court rules against Assessee in Allu Arvind Babu vs ACIT case.

Robo Silicon allowed to withdraw application by AAR Telangana

December 4, 2020 417 Views 0 comment Print

In Re Robo Silicon Private Limited (GST AAR Telangana) In the reference 1st cited, M/s. Robo Silicon Private Limited, has sought certain clarification by filing an application for Advance Ruling. Through the reference 2nd cited, Assistant Commissioner(ST), Srinagar Colony Circle, was requested to go through the attachment and inform the above pendency of the issue […]

TDS and Tax on Salary | Section 192 | FY 2020-21 | AY 2021-22

December 3, 2020 53028 Views 0 comment Print

CBDT issued Income Tax Circular No. 20/2020 dated 03rd December 2020 which contains provision for TDS on Salary for the Financial Year 2020-21 under Section 192 of the Income-Tax Act, 1961. Text of the Circular is as follows:- GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF DIRECT TAXES DEDUCTION OF TAX […]

CBIC revokes ADD on imports of Nylon Tyre Cord Fabric from China

December 3, 2020 984 Views 0 comment Print

Notification No. 45/2020-Customs (ADD) – Seeks to rescind notification No. 30/2015-Customs (ADD), dated 12th June 2015 to revoke the levy of ADD on imports of Nylon Tyre Cord Fabric originating in or exported from China PR. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 45/2020-Customs (ADD) New Delhi, the 3rd of December, […]

Anti-dumping duty on Cold-Rolled Flat Products of Stainless Steel

December 3, 2020 3567 Views 0 comment Print

Seeks to amend notification No. 61/2015-Customs (ADD), dated 11th December, 2015 and notification No. 52/2017 – Customs (ADD), dated 24th October, 2017, to further extend the levy of anti-dumping duty on imports of Cold-Rolled Flat Products of Stainless Steel of width 600 mm to 1250 mm and above 1250 mm of non-bonafide usage falling under […]

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