Rama Krishna Sales Pvt. Ltd. Vs Union of India and Ors. (Delhi High Court) In a case involving import of essential parts for assembling e-rickshaw, Delhi High Court has held that Rule 2(a) of Interpretative Rules, treating unfinished articles as complete. The High Court observed that legal fiction created by a statute cannot be extended […]
The activity of supply, design, installation, commissioning and testing of solar energy based water pumping systems and O & M work by the applicant is a Works Contract of Composite Supply. This composite supply is a mixed of goods and services and predominant supply is supply of services. Since this supply is proposed to be undertaken for a Government Department, hence the rate of tax applicable on given service (as it is a works contract service) shall fall under Entry 3(iii) with HSN Code 99544 and it should be IGST@12%(CGST@6%, SGST@6%).
The Regional Authorities, while considering requests of discharge of Export Obligation, will ensure that in case of shortfall in Export Obligation fulfillment, the Policy Circulars earlier issued in terms of Para 5.11.2 of HI3P 2009-14 and Para 5.19 of Hand Book of Procedure of FTP 2015-20 are also considered before issuance of the demand notice etc. This stipulation should also form part of the Check- Sheet for the purpose of EODC.
These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Fifth Amendment) Regulations, 2019.
CBIC has decided to allow labelling/ fixing RSP etc. to fulfil statutory compliance requirements in all Customs Bonded Warehouse without the requirement of taking permission under Section 65 of the Customs Act.
SEBI is conducting a survey and creating an inventory of the AI / ML landscape in the Indian financial markets to gain an in-depth understanding of the adoption of such technologies in the markets and to ensure preparedness for any AI / ML policies that may arise in the future.
Practicing professionals are prohibited from acting as full time directors. They can only act as non-executive directors not performing administrative duties. Such persons cannot be prosecuted for offenses committed by the company. it will be a travesty of justice to prosecute all Directors if the offense is committed without their knowledge.
Observing that the provisions in the Customs Act were silent about demurrage, the High Court held that it is beyond the legislative powers to include demurrage charges in the rules for Customs valuation. Supreme Court judgements in Wipro ltd, Essar Steel Ltd. and Mangalore Refinery and Petrochemicals Ltd. were relied on.
In re Goodwear fashion Pvt Ltd. (GST AAR Uttarakhand) Whether Interlining Fabrics is classified under HSN Code 5903 or should be classified as per the blend of Yarn (in chapter 52-55). Specimen fabric i.e. ‘Polyester Viscose fusing Interlining Woven Fabric, partially covered with plastic which leads to plastic coated pattern that is visible on its […]
Prescribed income-tax authority under section 133C. 12D. The prescribed income-tax authority under section 133C shall be an income-tax authority not below the rank of Assistant Commissioner of Income-tax who has been authorised by the Central Board of Direct Taxes to act as such authority for the purposes of that section.
