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Measures to prevent repeat of Trading halt at NSE

March 22, 2021 3492 Views 0 comment Print

With regard to the Trading halt at NSE on February 24, 2021, NSE presented its detailed Root Cause Analysis (RCA) before SEBI Technical Advisory Committee (TAC) on March 22, 2021.

CAIT writes govt on Unauthorised online selling of pharmacy

March 20, 2021 1308 Views 0 comment Print

We invoke your kind attention towards the repeated violation of Drugs & Cosmetics Act by selling pharmacy through their respective e-commerce channels which is adversely affecting the business of lakh of Medicine Retailers, Chemists etc who are giving medicines to needy people by observing all provisions of the law and the rules.

States/UTs wise breakup of DPIIT recognized startups

March 19, 2021 843 Views 0 comment Print

Since the launch of Startup India initiative, a total of 44,766 Startups have been recognized by DPIIT as on 14th March 2021.  States/UTs wise breakup of DPIIT recognized startups is at Annexure-I.

Statutory authority should not exercises its powers without determining jurisdiction in the matter

March 19, 2021 1185 Views 0 comment Print

BT (India) Private Limited Vs ITO (Delhi High Court) Having heard the learned counsel for the parties, according to us, if the statutory authority exercises its powers without determining whether or not it has jurisdiction in the matter, that itself, may, in certain cases, call for interference. The record shows that the application of AAR […]

Promotion of 92 officers to Pr.CIT grade | Order No. 68 of 2021

March 19, 2021 5196 Views 0 comment Print

Office Order No. 68 of 2021 Consequent upon approval of the Competent Authority, the following officers are, hereby, promoted to the grade of Principal Commissioner of Income Tax (Pr. CIT) (level 15 in the pay matrix Rs. 1,82,200-2,24,100/-) on in-situ basis with immediate effect or w.e.f. the date of assumption of charge of the post by them, whichever is later:-

Mandatory HSN/SAC Codes in GST Invoices from 01.04.2021

March 18, 2021 120852 Views 9 comments Print

Taxpayers Have Mandatorily Declare HSN/SAC Codes In GST Tax Invoices From 1st April, 2021 E-Invoicing has been made applicable from 1st October 2020 to all businesses whose aggregate turnover has exceeded Rs.500 crores limit in any of the preceding financial years from 2017-18 to 2019-20. Further, from 1st January 2021, E-Invoicing will be applicable to […]

Refundable security deposit shown as a liability in books cannot be added to Income

March 18, 2021 5115 Views 0 comment Print

PCIT Vs Landbase India Ltd (Delhi High Court) Since the security deposit continues as a liability in the books of the assessee club, the assessing officer could not have added the same to the income of the assessee club. The tribunal has correctly, in our opinion, deleted the addition. FULL TEXT OF THE JUDGMENT/ORDER OF […]

Speaking order should be passed by Proper Office within 15 days of re-assessment of bills of entry

March 18, 2021 9579 Views 0 comment Print

Explore the CESTAT Chandigarh order in Manavi Exim Pvt Ltd vs Commissioner of Customs, Ludhiana. Learn about the implications of Section 17(5) of the Customs Act on re-assessment and the importance of a speaking order.

Govt initiatives to provide world market for industries & farmers

March 18, 2021 552 Views 0 comment Print

India’s share in world merchandise exports remained constant at 1.7% in 2017, 2018 and 2019 (Jan-Dec). However, India’s rank as an exporter improved from 20th position in 2017 to 18th position in 2019 (as per latest available WTO press releases), indicating that the credibility and demand of Indian products are increasing in the world market.

Plastic Export Promotion Council is enlisted under Appendix 2E of FTP

March 17, 2021 672 Views 0 comment Print

M/s The Plastic Export Promotion Council is enlisted under Appendix 2E of FTP (2015-2020) for issuing Certificate of Origin (Non-Preferential).

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