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CBIC Notification allowing Centralised registration for Petroleum Crude

November 10, 2021 447 Views 0 comment Print

CBIC hereby exempts from the operation of said rule, every manufacturing unit engaged in the manufacture or production of Petroleum Crude, falling under tariff heading 2709 00 10 of the Fourth Schedule to the Central Excise Act, 1944 (1 of 1944) (hereinafter referred to as the specified goods), where the manufacturer of such goods has a centralised billing or accounting system in respect of specified goods manufactured or produced by different units or premises and opts for registering only the unit or premises or office, from where such centralised billing or accounting is done.

No GST on recovery of amount towards Top-up & parental insurance premium from employees

November 10, 2021 4674 Views 0 comment Print

In re TATA Power Company Limited (GST AAR Maharashtra) Whether the recovery of an amount towards Top-up and parental insurance premium from the employees, amounts to a supply of any service under section 7 of the Central Goods & services Tax Act, 2017? We find that the activity undertaken by the applicant like providing of mediclaim […]

Roadmap for introduction of T+1 rolling settlement cycle in equity market

November 9, 2021 1476 Views 0 comment Print

SEBI, on September 07, 2021, permitted Stock exchanges to introduce T+1 settlement cycle from January 01, 2022 on any of the securities available in the equity segment.

Re-constitution of Committee for RODTFP

November 9, 2021 762 Views 0 comment Print

Government has constituted a Committee for a) determination of RODTEP rates for AA/EoU/SEZ exports and b) to give supplementary report/ recommendations on issues relating to errors or anomalies, with respect to the RODTEP Schedule of rates notified in the Appendix 4R.

Investment by Foreign Portfolio Investors (FPIs) in Debt Review

November 8, 2021 1329 Views 0 comment Print

FPIs can acquire debt securities issued by InvITs and REITs under the Medium-Term Framework (MTF) or the Voluntary Retention Route (VRR). Such investments shall be reckoned within the limits and shall be subject to the terms and conditions for investments by FPIs in debt securities under the respective regulations of MTF and VRR.

DGFT amends Export Policy of Animal By-products

November 8, 2021 2163 Views 0 comment Print

Item description of ITC HS Code 35040010 at Serial No.173 in the Notification No.34/2015-20 dated 13.01.2017 has been amended to include Collagen Peptides of marine or bovine or Poultry origin.

Gold hidden in foot band worn for medical purpose cannot be treated as ‘personal effects’

November 4, 2021 744 Views 0 comment Print

Nizar Moulavi Abdul Khader Vs Commissioner of Customs Mangalore (CESTAT Bangalore) Order-in-Original records a finding that gold was found in the foot band worn for medical purpose on both the feet of the appellant, well hidden/covered with black socks, shoes put over them. This is claimed as having been found on the ‘person of the […]

No Service Tax on recruiting Students to Foreign Universities by IDP India for IDP Australia

November 4, 2021 3297 Views 0 comment Print

IDP Education India Private Limited Vs Additional Director General of Central Excise (CESTAT Delhi) It is undisputed that the appellant has an agreement only with IDP Australia. The appellant recruits or facilitates students in India, but does not get any remuneration from Australian universities. For the students who are recruited or admitted by the university […]

Import of Urea allowed through NFL and IPL

November 3, 2021 4263 Views 0 comment Print

In addition to Rashtriya Chemicals & Fertilizers Limited (RCF), Import of Urea is allowed through National Fertilizers Limited (NFL) and Indian Potash Limited (IPL) subject to Para 2.20 of Foreign Trade Policy, 2015-2020. The NFL and IPL are designated as STE for import of Urea on Government account. However, IPL is allowed to import Urea […]

EPFO enhances ex-gratia Death Relief Fund to Rs. 8 Lakhs for Non-Covid death

November 2, 2021 3291 Views 0 comment Print

Enhancement of Ex gratia Death Relief Fund of Rs. Eight Lakhs in the event of death of an employee of the Central Board due to Non -Covid-19 (normal death) -Regarding. File No.B-11/1/2020–HRM-VI/3362 EPFO, HEAD OFFICE MINISTRY OF LABOUR & EMPLOYMENT, GOVERNMENT OF INDIA 14, BHIKAIJI CAMA PLACE. NEW DELHI 110066 www,epfindia.gov.in 02 NOV 2021 To, […]

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