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Anti-dumping duty on Textured Tempered Coated & Uncoated Glass

February 26, 2019 1308 Views 0 comment Print

Seeks to impose definitive anti-dumping duty on Textured Tempered Coated and Uncoated Glass originating in or exported from Malaysia vide Notification No. 12/2019-Customs (ADD) MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 12/2019-Customs (ADD) New Delhi, the 26th February, 2019 G.S.R. 156(E).—Whereas, in the matter of “Textured Tempered Coated and Uncoated Glass with a minimum […]

Loss Due to Obsolescence of Stores & Spares in Inventory is Allowable Business Expenditure

February 25, 2019 14142 Views 0 comment Print

Ms. Hindustan Newsprint Ltd. Vs ACIT (Kerala High Court) In the present case, the Tribunal had permitted devaluation with respect to the items in which the committee had recommended 100% devaluation confining the actual devaluation to 80%. The Tribunal disallowed 20% of the claim finding it to be the scrap value of the devalued items. […]

Cenvat credit on GTA services when goods cleared on FOR basis

February 25, 2019 2118 Views 0 comment Print

CESTAT Ahmedabad allows CENVAT credit on GTA services for doorstep delivery, distinguishing from Ultratech judgment. Relying on Circulars, benefit extended during the relevant period.

Decisions of GST Council Meeting Held on 24.02.2019

February 25, 2019 2091 Views 0 comment Print

GST exemption has been proposed on Transfer Development Rights  (TDR) / Joint Development Agreement (JDA), long term lease (premium), Floor Space Index (FSI) GST Council has specified that an Intermediate tax on these development rights such as TDR, JDA, lease (premium), FSI will be exempt from GST for such residential properties on which GST is […]

Prepaid Sim Card: Unutilized talk time not accrue in the year of sale

February 23, 2019 1281 Views 0 comment Print

Income on sale of prepaid cards to the extent of unutilized talk time did not accrue as income in the year of sale. If assessee had failed to perform the services as promised, it would be liable and under an obligation to refund the advance payment received under the ordinary law of contract or special enactments, like the Consumer Protection Act.

Result of CS Professional & Executive Programme Exam on 25.02.2019

February 22, 2019 681 Views 0 comment Print

The result of Company Secretaries Professional Programme and Executive Programme examinations held in December, 2018 is scheduled to be declared at 11.00 A.M. and 2.00 P.M. respectively on Monday, the 25th February, 2019 through the website of the Institute: www.icsi.edu

Eligibility of Exports made from SEZ/EOU units on behalf of DTA units Reg.

February 22, 2019 4311 Views 0 comment Print

It is clarified that the exports which are made/have been made directly from a EOU/ SEZ unit to Foreign consumer in which export documents are prepared and filed at the customs office of concerned SEZ/EOU Unit, mentioning the name of the EOU/SEZ unit along with the name of the DTA unit on whose behalf the exports is made, would be eligible for MEIS benefits subject to condition that only one of the said units e. either EOU/SEZ unit or the DTA unit can claim the benefits under MEIS.

GST on Immovable property renting services by NDDB to an educational institute

February 22, 2019 1455 Views 0 comment Print

Renting of immovable property service provided by National Dairy Development Board to an educational institute would be exempted under Sr. No. 4 of Notification No. 12/2017-Central Tax (Rate) and corresponding State Tax Notification, if it qualifies as ‘governmental authority’.

Govt. recommends 8.65% interest on EPF for 2018-19

February 21, 2019 1026 Views 0 comment Print

Central Board of Trustees, EPF recommends crediting of 8.65% rate of interest on Accumulations in the EPF Member’s Account for the year 2018-19

Updates of 33rd GST Council Meeting Held on 20.02.2019

February 21, 2019 5565 Views 0 comment Print

1. Extension of Due Date for filling GSTR-3B for January 2019 For all states except Jammu & Kashmir -22nd February 2019 For Jammu and Kashmir – 28th Feb 2019 2. Recommendation of GST rate On under-construction properties-5% GST from 12% GST On affordable housing category-3% or lower rate of GST from 8% GST However, in […]

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