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Mandatory SIMS registration for Additional HS codes wef 16.10.2020

September 28, 2020 13665 Views 0 comment Print

Implementation date for additional HS codes covered under registration under Steel Import Monitoring System (SIMS) vide Notification No. 33/2015-20 dated 28.09.2020 shall be 16th October 2020 i.e. Bill of Entry on or after 16.10.2020 shall require compulsory registration under SIMS. Public Notice No. 19/2015-2020 Dated 28th September, 2020 MINISTRY OF COMMERCE AND INDUSTRY (Department of […]

Import under HS codes of Chapters 72, 73 & 86 to register under SIMS

September 28, 2020 26229 Views 0 comment Print

Import under all HS codes of Chapters 72, 73 and 86 of ITC (HS), 2017 shall now require compulsory registration under the Steel Import Monitoring System (SIMS). Notification No. 33/2015-2020 dated: 28th September, 2020. MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) Notification No. 33/2015-2020 New Delhi, the 28th September, […]

Proportionate ITC on procurement of capital goods for power generation business can be claimed

September 28, 2020 8727 Views 0 comment Print

In re Kumaran Oil Mill (GST AAR Tamilnadu) Whether proportionate claim of input tax credit for procurement of capital goods can be made for power generation business? The applicant is eligible for Proportionate claim of Input Tax Credit as per Section 17(2) of the CGST/TNGST Act read with Rule 42/Rule 43 of CGST/TNGST Rules 2017 […]

ACES-GST Application enhances efficacy of revenue augmentation measures

September 28, 2020 1932 Views 0 comment Print

The ACES-GST Application is an in-house effective tool for monitoring of productivity and revenue collection through its Dashboards. Saransh Dashboards’ available under Saksham monitors Log-in by the GST officers into the application.

SEBI amends guidelines for preferential issue & institutional placement of units by a listed REIT

September 28, 2020 660 Views 0 comment Print

EBI has granted certain relaxations for raising of equity capital. On similar lines the extant guidelines for preferential issue and institutional placement of units by listed REITs stand modified as set out in the Annexure to this circular.

SEBI amends guidelines for preferential issue & institutional placement of units by a listed InvIT

September 28, 2020 627 Views 0 comment Print

SEBI has granted certain relaxations for raising of equity capital. On similar lines the extant guidelines for preferential issue and institutional placement of units by listed InvITs stand modified as set out in the Annexure to this circular.

Import & subsequent supply on approval basis are two distinct Supplies

September 28, 2020 2820 Views 0 comment Print

In re Halliburton Offshore Services Inc (GST AAAR Andhra Pradesh) The Import and subsequent supply to ONGC on consignment basis i.e on approval basis are two distinct Supplies as prescribed under the Customs Act and GST Acts. The appellant has not disputed the Ruling to the extent that the transaction of import and subsequent supply […]

Master Minds is a coaching institute and not an educational institution

September 28, 2020 2700 Views 0 comment Print

In re Master Minds (GST AAAR Andhra Pradesh) The applicant is not eligible for the exemption under Entry No.66 (a) of Notification No.12/2017 – Central Tax (Rate) dated 28.6.2017, as a Service provider for Supply of service of education to the students for obtaining Qualifications/certificates of CA-Foundation, CA-Inter, CA-Final, CMA (ICWA)-Foundation, CMA-Inter, CMA-Final and Intermediate. […]

The Jammu and Kashmir Official Languages Act, 2020

September 27, 2020 669 Views 0 comment Print

(1) This Act may be called the Jammu and Kashmir Official Languages Act, 2020. (2) It extends to the Union territory of Jammu and Kashmir. (3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint:

The Essential Commodities (Amendment) Act, 2020

September 27, 2020 2340 Views 0 comment Print

(a) the supply of such foodstuffs, including cereals, pulses, potato, onions, edible oilseeds and oils, as the Central Government may, by notification in the Official Gazette, specify, may be regulated only under extraordinary circumstances which may include war, famine, extraordinary price rise and natural calamity of grave nature;

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