Customs Rate of Exchange of Foreign Currency Conversion wef 12.01.2019 notified vide Notification No. 03/2019 – Customs (N.T.) dated 11th January, 2019. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ******* Notification No. 3/2019 – Customs (N.T.) Dated the 11th January, 2019 In exercise of the powers conferred by […]
M/S Sheen Golden Jewels (India) Pvt Ltd Vs State Tax Officer (Kerala High Court) Core Question as the petitioners put it,is does the State have the legislative competence to enact section 174 and save the past taxation events—comprising levy, assessment, and recovery—when Entry 54, List II, which is the field of legislation empowering the State, stood […]
CIT Vs Chettinad Cement Corporation Ltd. (High Court Madras) n order to get over the legal embargo which permitted such expense to be allowable as a deduction, the Income Tax Act was amended and Section 35DDA was introduced by Finance Act, 2001 w.e.f 01.04.2001. Thus, in our considered view, the Tribunal was justified in setting aside […]
International Lease Finance Corporation Vs Union of India & Ors. (Delhi High Court) Delhi High Court has held that non-commercial re-export of duty-paid goods would be entitled to drawback under Section 74 of the Customs Act and that requirement of Guaranteed Remittance was not necessary in a case where the exporter and owner of the […]
Kopran Ltd. Vs Commissioner of Customs (E) (CESTAT Mumbai) Rejecting the plea that bond/LUT executed by assessee-importer did not cover the anti-dumping duty leviable on material imported under Advance Authorisation, The Tribunal observed that the bond executed did not make any distinction between the duties leviable. Larger Bench order in Caprihans and Bombay High Court […]
M/s. Innoviti Payment Solutions Pvt. Ltd. Vs ITO (ITAT Banglore) (1) The AO can scrutinize the valuation report and the if the AO is not satisfied with the explanation of the assessee, he has to record the reasons and basis for not accepting the valuation report submitted by the assessee and only thereafter, he can […]
DCIT Vs M/s. Ahmedabad Vadodara Express Way Co. Ltd. (ITAT Ahmedabad) It is seen that the assessees have given only permission to the collecting entities to collect the toll fees and maintain the toll plazas by employing a specified category of persons and supervise them and deposit the toll collection in the signatory account of […]
The list of MEIS entries in the Appendix 3B, Table 2, for which the RAs are required to process the MEIS application in the manual mode, as explained in the Trade Notice 30 dated 11.09.2018 has been re-notified.
In re M/s. Toshniwal Brothers (SR) Private Limited (GST AAAR Karnataka) In the instant case there is no dispute that the Agency contract in question involves two taxable supplies of services i.e promotion and marketing service and after-sales support service. However in order for the supply to be termed as a ‘composite supply’, what is required […]
RBI makes the following amendments in the Reserve Bank of India (Gold Monetization Scheme, 2015) Master Direction No.DBR.IBD.No.45/23.67.003/2015-16 dated October 22, 2015, with immediate effect.
