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Empanelment For Concurrent Audit with J&K Grameen Bank

January 31, 2022 3840 Views 0 comment Print

J&K Grameen Bank invites applications on the under-noted prescribed format from Bank Retirees as well as practicing ‘Firms / Partnership firms of Chartered/Cost Accountants in India’ who fulfill the eligibility criteria as mentioned hereunder and are willing to serve J&K Grameen Bank as Concurrent Auditors for conducting Concurrent Audit of branches for the Financial Year 2022-2023.

Services Contributed Over 50% To GDP

January 31, 2022 1062 Views 0 comment Print

SERVICES CONTRIBUTED OVER 50% TO GDP SECTOR WITNESSED 10.8% GROWTH DURING FIRST HALF OF 2021-22 8.2 % GROWTH EXPECTED IN OVERALL SERVICES SECTOR FDI INFLOW OF $ 16.73 BILLION RECEIVED IN FIRST HALF (H1) OF 2021-22 22.8% INCREASE IN NET EXPORTS OF SERVICES IN H1 2021-22 IT-BPM REVENUES REACHED $ 194 BILLION, GROWING BY 2.26% […]

GST AAR Maharashtra allows Rotary Club of Nagpur to withdraw application

January 31, 2022 1500 Views 0 comment Print

In re Rotary Club of Nagpur (GST AAR Maharashtra) The present application has been filed under section 97 of the Central Goods and Services Tax Act, 2017 and the Maharashtra Goods and Services Tax Act, 2017 [hereinafter referred to as “the CGST Act and MGST Act” respectively] by M/s. Rotary Club of Nagpur, The applicant, seeking […]

PCIT to maintain judicial discipline even if appeal is filed against the issue

January 31, 2022 837 Views 0 comment Print

Vodafone Idea Limited Vs PCIT (ITAT Mumbai) ITA allows depreciation @ 25% on spectrum fee and held that provisions contained under section 35ABB are not applicable to spectrum fee and it further held that PCIT cannot keep an issue alive on the pretext that the order passed by the Tribunal is not accepted by the […]

Activities of ‘Ernet India’ are charitable & eligible for Section 11 exemption

January 30, 2022 951 Views 0 comment Print

DCIT Vs Ernet India (ITAT Delhi) The facts in brief are that assessee is an Autonomous Society under the Department of Information & Technology, Ministry of Communication & Information Technology, Government of India, which was established as a non-profitable organization. It was registered under Section 12A of the Act vide certificate / order dated 26.03.2004. […]

No provision in law to tax income which Assessee could have earned but not earned

January 30, 2022 1893 Views 0 comment Print

Parinee Realty Pvt. Ltd. Vs ACIT (Bombay High Court) According to the JAO, survey report submitted by DDIT investigation indicate that interest should be charged at 12% per annum on loan given to sister concern totaling to Rs.4,17,04,380/- and therefore income chargeable to tax has been under assessed by the said amount. According to the […]

Service tax paid on re-insurance allowable as input service under CENVAT Credit Rules

January 30, 2022 2340 Views 0 comment Print

High Court has held that the service tax paid on re-insurance would be allowable as input service under the CENVAT Credit Rules, 2004.

ICAI Cut-off date for conversion from Earlier Scheme to Revised Scheme

January 29, 2022 3810 Views 0 comment Print

Students may note that since the December, 2021 was the last exam of Intermediate (IPC) Course – Under Old Scheme and Final Course Examination – Under Old Scheme, therefore, old course students who wish to appear in May 2022 exams of Intermediate and Final are required to convert themselves from Earlier Scheme to Revised Scheme of Education and Training implemented w.e.f. 1st July, 2017 latest by 13th March, 2022.

HC stays rigour of paragraph 8 of Circular No. 125/44//2019-GST dated 18.11.2019

January 28, 2022 3030 Views 0 comment Print

U P Telelinks Limited Vs State of Uttarakhand (Uttarakhand High Court) Shri Akash Deep Singh, learned counsel for the petitioner. Shri Pradeep Joshi, learned Standing Counsel for the State of Uttarakhand / respondent no. 1 and 2. Shri V.K. Kaparwan, learned Standing Counsel for the Union of India / respondent no. 3. There is no […]

DGTR issues 56 final findings since April, 2021 in AD/CVD/SG investigations

January 28, 2022 1251 Views 0 comment Print

DGTR (Directorate General of Trade Remedies) of the Department of Commerce issues 56 final findings since April, 2021 in in Anti-Dumping (AD)/Countervailing Duties (CVD)/Safeguard (SG) investigations. 35 more investigations started since April, 2021 and many more are in pipeline. Introduction of self-certification to usher in a new regime of trade facilitation The duties recommended by […]

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