It is clarified in respect of normal rice that -Rice (5% and 25%) is already exempted as it is not broken rice but normal rice with permissible limits of broken rice as per standards. However, it will carry 20% duty as per notification
(1) These rules may be called the Legal Metrology (General) Amendment Rules, 2022. (2) They shall come into force from the date of their publication in the Official Gazette.
Reserve Bank of India approved 42 reporting entities for authentication under Aadhaar Act for section 11A of Money-laundering Act.
Late Smt. Bhanuben Dhanji Shah Vs DCIT (ITAT Mumbai) The brief facts of the case pertaining to the issue, as emanating from the record, are: During the course of assessment proceedings, the assessee was asked to submit proof with regard to cost of improvement claim of Rs.81,775, with supporting bills, date of incurring such expenditure, […]
In the present case, admittedly the whole of the service was provided outside India and received outside India, therefore, even in terms of the said rule, the service tax is not leviable on the Business Exhibition Service received by the appellant which was performed outside India hence not taxable in the hands of the appellant.
Implication of the judgement of the Hon’ble Apex Court in the case of M/s Westinghouse Saxby Farmer Ltd. Vs. Commissioner of Central Excise, Kolkata-Clarification
ACIT Vs AVA landmark LLP (ITAT Delhi) The capital assets held by erstwhile company transferred to assessee as LLP were considered as transfer and the Assessing officer made addition of Rs.11,37,40,244/- to the return income on allegation of non-compliance of Section 47(xiiib) of the Act. However, the Ld. CIT(A) observed that there is no violation […]
The tide up grants for a specific purpose would only mean that the assessee which was voluntarily organization, had agree to act as a trustee of a special fund granted by the donor with the result that it need not be pooled or integrated with the assessee is normal income or corpus.
State Bank of India (SBI), in the XVIII Phase of sale, has been authorised to issue and encash Electoral Bonds through its 29 Authorized Branches ( as per list enclosed) w.e.f. 01.10.2021 to 10.10.2021.
Competent Authority appointed under FEMA has confirmed the seizure order of Rs. 5551.27 Crore dated 29.04.2022 passed by the ED against Xiaomi Technology India Private Limited under the provisions of FEMA. Press Release – 30.09.2022 The Competent Authority appointed under Section 37A of the Foreign Exchange Management Act has confirmed the seizure order of Rs. 5551.27 […]
