The Government, on the recommendation of GST Council made during its 45th Meeting, notified certain amendments in CGST Rules, 2017 vide Notification No. 35/2021-Central Tax dated 24.09.2021. Besides, 4 circulars were also issued last week to clarify various issues pertaining to GST. These include clarification on the interpretation of scope of “intermediary services” and “establishment of distinct persons” for considering supply of a service as export of service.
Members staying abroad have the opportunity to update their current address on or *before 1st October 2021* for the upcoming elections to be held on 3rd & 4th December 2021.
IRDAI permits Insurers to classify investments in Preference Shares and Equity Shares as part of Approved Investment of for at least 2 consecutive years immediately preceding (as required under Regulation 3(a)(4) and 3(a)(S) of IRDAI (Investment) Regulations, 2016) for the period from 1st October, 2021 to 31st March, 2022.
Sai Agencies Vs State of Maharashtra (Bombay High Court) Principles of law interpreted in the Reported Judgment of Sai Agencies Versus State of Maharashtra & Ors. (Writ Petition No. 2067 of 2021) 1. That the Courts shall not ordinarily test the opinion of the experts unless their decision is totally arbitrary or unreasonable. The Courts […]
First Appellate Authority under TNVAT Act cannot travel beyond subject matter of assessment – Saint Gobain Glass India Ltd. Vs Appellate Joint Commissioner (CT) (Madras High Court)
Supreme Court has observed that if the signature on the cheque is admitted, then presumption under Section 139 of the Negotiable Instruments Act that the cheque was issued in discharge of a legally enforceable debt will be raised. Upon such presumption being raised, it is incumbent upon the accused to rebut the same.
Imports of Hydrofluorocarbon (HFC) Blends – Authority recommends imposition of anti-dumping duty equal to the lesser of the margin of dumping and the the margin of injury, so as to remove the injury to the domestic industry. Accordingly, the Authority recommends imposition of the antidumping duty on the imports of subject goods, originating in or […]
New Victoria Mills & Ors. Vs Shrikant Arya (Supreme Court of India) In this resignation had already been accepted on 28.05.2003 before the respondent endeavoured to withdraw the same on 01.06.2003. It has, thus, rightly been contended by the appellants that the mere delay in relieving the respondent from duties would not impact the acceptance […]
International Bakery Products Ltd. Vs ACIT (ITAT Chennai) Prior period item whether expenses or income is an item of expense deductible or item of income, always comes below the line in the profit & loss account. That means, for all practical purposes, the net profit as per books of account for the relevant period is […]
Directions were issued to the field formations to ensure judicious application of CAROTAR, 2020, while following prescribed timelines strictly and avoiding unnecessary delays or use of arbitrary practices during clearance of goods.
