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Import policy of mosquito killer racket revised to ‘Prohibited’

April 26, 2021 4143 Views 0 comment Print

Import policy of mosquito killer racket under HS Codes 85167920 and 85167990 is revised from ‘Free’ to ‘Prohibited’ if C.I.F value is below Rs121/per racket vide Notification No. 2/2015-2020 Dated: 26th April, 2021. MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) New Delhi, the Notification No. 2/2015-2020 Dated: 26th April, […]

TVAT: No penalty for non-furnishing of Audit report if no format for filing audited report was prescribed

April 24, 2021 834 Views 0 comment Print

Pankaj Behari Saha Vs State of Tripura (High Court Tripura) Petitioner is a dealer and was registered under the Tripura Value Added Tax Act, 2004 (TVAT Act, for short) at the relevant time. The Superintendent of Taxes, Udaipur issued a notice on 31.01.2019 to the petitioner under Section 53(3) of the TVAT Act conveying to […]

Receipts from Sale of licence software is not a royalty : ITAT Delhi

April 24, 2021 756 Views 0 comment Print

Symantec Asia Pacific Pte. Ltd. Vs DCIT (ITAT Delhi) The Assessing Officer raised a query that the consideration amounting to Rs.242,52,89,282/- on sale of licence software should be treated as receipts received on account of sale of licence software as royalty. The issue of software income is not a royalty income is settled by the […]

DRI seizes more than 300 kg of cocaine valued at approx. Rs. 2000 crore

April 22, 2021 741 Views 0 comment Print

Based on specific intelligence that cocaine will be concealed in a consignment imported in container reaching V O C Port, Tuticorin, the officers of Directorate of Revenue Intelligence (DRI) have intercepted the container declared to be containing wooden logs. The suspected container has originated from Panama, transited through the ports of Antwerp and Colombo.

IRDAI guideline for Investments in Debt Securities of InvITs & REITs

April 22, 2021 1413 Views 0 comment Print

nvestments-Master Circular permits insurers to invest in Units of listed Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs). Consequent to Finance Act, 2021 permitting Trusts to issue Debt Securities, the following conditions shall apply to Insurers investing in Debt Securities issued by InvITs / REITs

95 Promotions to the grade of CIT

April 22, 2021 6099 Views 0 comment Print

Office Order No. 107 of 2021 Consequent upon approval of the Competent Authority, the following officers are, hereby, promoted to the grade of Commissioner of Income Tax (CIT) (level 14 in the pay matrix Rs. 144200-218200/-) on in-situ basis with immediate effect or with effect from the date they assume charge of the post. whichever is later.

List of Essential Services Staff Permitted to travel by Local trains in Mumbai

April 22, 2021 14451 Views 0 comment Print

As per order of state Government, Ministry of Railways has permitted the following categories of Essential Services staff to travel by Local trains over Mumbai region from 08.00 PM on 22nd April, 2021 till 07.00 AM on 1st May, 2021:

CMA Foundation Exam Time Table & Programme June 2021

April 22, 2021 2559 Views 0 comment Print

Institute Of Cost Accountants Of India declares CMA Foundation Exam Time Table & Programme for JUNE 2021 Examination which will be held on 23rd July, 2021.  Also Read: CMA Intermediate And Final Exam Time Table & Programme June 2021 Full Details are as follows:- THE INSTITUTE OF COST ACCOUNTANTS OF INDIA (STATUTORY BODY UNDER AN […]

Depreciation allowable on Machinery ready but could not be put to use

April 21, 2021 5490 Views 0 comment Print

DCIT Vs Agile Electric Sub Assembly Pvt. Ltd. (ITAT Chennai) Admittedly, the assessee has filed a tabular chart explaining date of purchase of machinery and completion of commissioning of such machinery, as per which all the plant and machinery was commissioned before 30.03.2013. The assessee had also placed on record commissioning report for installation and […]

Anti-dumping investigation on imports of ‘Plain Medium Density Fibre Board

April 20, 2021 2523 Views 0 comment Print

Case No. ADD-OI-11/2020 Anti-dumping investigation concerning imports of ‘Plain Medium Density Fibre Board having thickness less than 6mm’ originating in or exported from Vietnam, Malaysia, Thailand and Indonesia.

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