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10000 MT sugar allocated for export of sugar to EU under CXL quota

July 24, 2019 1497 Views 0 comment Print

The quantity of 10000 MT sugar (raw and/or white sugar) to be exported to EU under CXL Quota from 1.10.2019 to 30.09.2020 has been notified vide Public Notice No. 21/2015-2020 dated 24th July, 2019.

Insolvency and Bankruptcy Code (Amendment) Bill, 2019 as Introduced in Rajya Sabha

July 24, 2019 909 Views 0 comment Print

AS INTRODUCED INTHE RAJYA SABH Bill No. XXVI of 2019 THE INSOLVENCY AND BANKRUPTCY CODE (AMENDMENT) BILL, 2019 BILL further to amend the Insolvency and Bankruptcy Code, 2016. BE it enacted by Parliament in the Seventieth Year of the Republic of India as follows:— 1. Short title and commencement. (1) This Act may be called […]

Issues faced by assessees in resolution of grievances in ITBA system

July 24, 2019 1677 Views 0 comment Print

We wish to bring to your kind notice that with the change of Internal working software of department from AST system to the ITBA system from A.Y. 2016-17 onwards, the members are facing following problems regarding functionality which need immediate attention for early disposal of grievances of the assessees

IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2019

July 23, 2019 1824 Views 0 comment Print

These regulations may be called the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2019.

IBBI (Procedure for Governing Board Meetings) (Amendment) Regulations, 2019

July 23, 2019 465 Views 0 comment Print

These regulations may be called the Insolvency and Bankruptcy Board of India (Procedure for Governing Board Meetings) (Amendment) Regulations, 2019. They shall come into force on the date of their publication in the Official Gazette.

CBDT continues follow up in cases connected with J&K Bank

July 23, 2019 564 Views 0 comment Print

CBDT has been actively pursuing leads found in the actions taken against the J&K Bank and its erstwhile Chairman, Sh. Parvez Ahmad. In another such follow-up action, a search and seizure operation has been conducted on a Group that is in the business of providing security to business establishments and prominent individuals, as well as in running hotels in Jammu & Kashmir and other parts of the country.

Show cause notice is sine qua non to proceed with recovery under GST

July 22, 2019 6822 Views 0 comment Print

LC Infra Projects Pvt. Ltd. Vs Union of India (Karnataka High Court) Section 73 of the Chapter XV of the Act – contemplates that where it appears to the proper officer that any tax has not been paid or short paid or erroneously refunded, or where input tax credit has been wrongly availed or utilised […]

No VAT liability on transporter even when consignor and consignee details not given

July 22, 2019 1311 Views 0 comment Print

Allahabad High Court has held that tax liability cannot be fixed on the transporter merely because the assessee/transporter did not furnish the details of the consignor and the consignee of the completed transactions.

Include Cost Accountants under Definition of Accountant U/S 288(2)

July 21, 2019 12093 Views 16 comments Print

Request for modification of the term Accountant as appearing in the Explanation below sub-section (2) of section 288 of the Income Tax Act, 1961 to include the Cost Accountant therein

HC grants Anticipatory bail against arrest under GST for alleged bogus billing

July 21, 2019 2523 Views 0 comment Print

Mr. Mahendra Kumar Singhi Vs Commissioner of Commercial Taxes (Karnataka High Court) Though several contentions have been raised with reference to initiation of the action under the GST Act and CST Act, since the scope of these petitions is limited only to consider the bail applications, the other points which have been raised are not […]

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