We advise that the Westpac Banking Corporation has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 vide Notification DOR.IBD.No.99/23.13.138/2020-21 dated July 18, 2020,
Notification No. 42/2020-Customs (N.T./CAA/DRI), Dated: 03.09.2020 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) (DIRECTORATE OF REVENUE INTELLIGENCE) New Delhi,the 3rd September, 2020 Notification No. 42/2020-Customs (N.T./CAA/DRI) S.O. 3085(E).—In pursuance of notification No. 60/2015-Customs (N.T.), published vide number G.S.R. 453(E), dated 4th June 2015 in Gazette of India, Extra-ordinary, Part-II, […]
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) (DIRECTORATE OF REVENUE INTELLIGENCE) NOTIFICATION New Delhi, the 3rd September, 2020 Notification No. 41/2020-Customs (N.T./CAA/DRI) S.O. 3084(E).—In pursuance of notification No. 60/2015-Customs (N.T.), published vide number G.S.R. 453(E), dated 4th June 2015 in Gazette of India, Extra-ordinary, Part-II, section 3, sub-section (i), […]
The search of a place and seizure of goods/documents/books/things is conducted in terms of Section 67(2) of APGST Act, 2017. The search and seizure, if necessary, can be conducted after conducing of inspection under Section 67(1) or otherwise. The procedural aspects are dealt under Rule 139 of APGST Rules, 2017.
The Income Tax Department has carried out simultaneous search and seizure operations on 2nd September, 2020 in the case of three prominent businessmen in Srinagar and Kupwara. These operations have, prima facie, led to the detection of huge amount of undisclosed income, seizure of unaccounted assets and incriminating evidence and involvement in benami transactions by these three groups.
The data on cash withdrawal indicated that huge amount of cash is being withdrawn by the persons who have never filed income-tax returns. To ensure filing of return by these persons and to keep track on cash withdrawals by the non-filers, and to curb black money, the Finance Act, 2020 w.e.f. 1st July, 2020 further amended Income-tax Act, 1961 to lower the threshold of cash withdrawal to Rs. 20 lakh for the applicability of TDS for the non-filers and also mandated TDS at the higher rate of 5% on cash withdrawal exceeding Rs. 1 crore by the non-filers.
The Ministry of Electronics and Information Technology, Government of India invoking it’s power under section 69A of the Information Technology Act read with the relevant provisions of the Information Technology (Procedure and Safeguards for Blocking of Access of Information by Public) Rules 2009 and in view of the emergent nature of threats has decided to block 118 mobile apps (see Appendix) since in view of information available they are engaged in activities which is prejudicial to sovereignty and integrity of India, defence of India, security of state and public order.
Notification No. 29/2020-Customs (ADD) Dated – 2nd September, 2020- CBIC amends notification No. 47/2015-Customs (ADD), dated 8th September 2015 to extend the levy of ADD on imports of ‘Float Glass’ originating in or exported from China PR, for a period of three months i.e. upto 7th December, 2020. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION […]
CBIC imposes provisional anti-dumping duty on imports of Ciprofloxacin Hydrochloride originating in or exported from China PR for a period of six months vide Notification No. 28/2020-Customs (ADD) dated: 2nd September, 2020. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 2nd September, 2020 Notification No. 28/2020-Customs (ADD) G.S.R. 544(E).—Whereas, in the matter of […]
Date of proposal for restructuring of debt received by AMCs shall be treated as the trigger date for the purpose of creation of segregated portfolio.
