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RP cannot reject claims already reflected in information memorandum

July 25, 2022 1941 Views 0 comment Print

Since, the claims are appeared for audited balance sheet of the Corporate Debtor, it is a duty of the RP to consider it for inclusion in information memorandum.

CA Intermediate Examination May 2022 Toppers & Pass Percentage

July 21, 2022 10257 Views 1 comment Print

Public Relations Committee The Institute of Chartered Accountants of India 21st July 2022 ICAI Press Release The Institute of Chartered Accountants of India (ICAI) today announced the results of Chartered Accountants Intermediate Examination held in May, 2022. Chartered Accountants Intermediate Examination held in May, 2022 I. Detail of All India Topper for Intermediate Examination held in May, […]

Container Freight Station (CFS) eligible to claim section 80IA(4) deduction

July 21, 2022 1854 Views 0 comment Print

DCIT Vs Continental Warehousing Corporation (Nhava Sheva) Ltd (ITAT Pune) The only issue is to be decided is as to whether the CIT(A) justified in allowing deduction u/s. 80IA(4) of the Act in respect of Container Freight Station (CFS). At the outset, we note that this issue is covered in favour of the assessee by […]

Import licensing requirement from WPC wing for import of wireless equipment

July 21, 2022 15366 Views 1 comment Print

Compendium of orders/ circulars/ guidelines issued from WPC Wing, DoT in regard to Import licensing requirement from WPC wing for import of wireless equipment as issued by CBIC vide Instruction No. 16/2022-Customs|Dated 21st July, 2022. Instruction No. 16/2022-Customs|Dated 21st July, 2022 F. No. 401/48/2022-Cus-III Government of India Ministry of Finance Department of Revenue (Central Board […]

Customs Exchange rate for Import and Export wef 22nd July 2022

July 21, 2022 4689 Views 0 comment Print

Exchange rate Notification No. 64/2022-Cus (NT) dated 21.07.2022  notifying exchange rate with effect from 22nd July, 2022 against Indian Rupees for Import and Export. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS New Delhi ***** Notification No. 64 /2022 – Customs (N.T.) | Dated: 21st July, 2022 In […]

Details of GST Compensation released to States/UTs for a period of 5 years

July 20, 2022 2115 Views 0 comment Print

GST compensation to States for loss of revenue arising on account of implementation of GST for a period of five years As per section 18 of the Constitution (One Hundred and First Amendment) Act, 2016, Parliament shall, by law, on the recommendation of the Goods and Services Tax Council, provide for compensation to the States […]

Focus Products Scheme Incentive is not liable to Income tax

July 20, 2022 2787 Views 0 comment Print

Focus Product Scheme (FPS) was first introduced with the objective to incentivize export of such products which have high export intensity/ employment potential, so as to offset infrastructure inefficiencies and other associated costs involved in marketing of these products.

FAQ’s on AIS (Annual Information Statement)

July 20, 2022 19950 Views 1 comment Print

Annual Information Statement (AIS) is comprehensive view of information for a taxpayer displayed in Form 26AS. Taxpayer can provide feedback on information displayed in AIS. AIS shows both reported value and modified value (i.e. value after considering taxpayer feedback) under each section (i.e. TDS, SFT, Other information).

No change in BCD rate for Open Cells used in manufacture of TV panels

July 20, 2022 2070 Views 0 comment Print

The entry S. No. 515A of notification No. 50/2017-Customs referred to the heading 8529 and provided a concessional BCD rate for Open Cells used in the manufacture of TV panels

KUA shall allow SEBI registered intermediaries to undertake Aadhaar Authentication

July 20, 2022 1245 Views 0 comment Print

KUAs shall facilitate onboarding of 155 reporting entities as sub-KUAs to provide services of Aadhaar authentication with respect to KYC.

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