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Highlights Highlights, Income Tax, GST, Import Eport and Corporate Laws

Import Relief for Exporters: Duty-Free Inputs Exempt from Quality Control Orders.
November 6, 2024   Circulars     DGFT

Revised norms for precious metal wastage in jewelry exports.
November 6, 2024   Circulars     DGFT

Extension of relaxation on gold/platinum/silver wastage norms for exporters until 31.12.2024.
November 6, 2024   Circulars     DGFT

Company director can't escape cheque dishonor liability by claiming ignorance of affairs.
November 6, 2024   Case Laws     Indian Laws

Defendants' spurious defence rejected; admitting liability but claiming payment at own discretion deemed "moonshine".
November 6, 2024   Case Laws     Indian Laws

Power company's right to recover unpaid charges lapses if unreasonable delay in issuing notice.
November 6, 2024   Case Laws     Indian Laws

Bank's charge takes precedence over VAT dept's charge on property under SARFAESI Act.
November 6, 2024   Case Laws     VAT / Sales Tax

Excess tax refund claims rejected on time limit, High Court allows explanation for delay.
November 6, 2024   Case Laws     VAT / Sales Tax

Partial GST refund allowed; remaining claim remanded for fresh adjudication on unjust enrichment.
November 6, 2024   Case Laws     Central Excise

Hidden cigarette manufacturing: Excise duty evasion alleged, but petitioner's reply ignored in assessment order.
November 6, 2024   Case Laws     Central Excise

Bank loan default before Covid triggers insolvency despite recall notice delays.
November 6, 2024   Case Laws     IBC

Disciplinary panel's 2-year suspension of insolvency professional upheld for e-auction irregularities.
November 6, 2024   Case Laws     IBC

Customs duty dispute: Revenue's single appeal against 93 Bills of Entry deemed non-maintainable.
November 6, 2024   Case Laws     Customs

PVC Resin Anti-dumping Duty Dispute: Importer Wins Based on Documentary Evidence Over Packing Discrepancy.
November 6, 2024   Case Laws     Customs

License Suspension of Customs Broker Overturned Due to Lack of Evidence.
November 6, 2024   Case Laws     Customs

Asbestos manufacturer inadvertently failed to claim export rewards; High Court allows claim based on intent.
November 6, 2024   Case Laws     Customs

Importers face duty demands, penalties for forged duty credit scrips.
November 6, 2024   Case Laws     Customs

Customs duty liability determination: Authority's power & limitation period invoked.
November 6, 2024   Case Laws     Customs

Charitable trust's exemption claim denied for late filing of prescribed form due to technical issues.
November 6, 2024   Case Laws     Income Tax

Charitable trust's exemption wrongly denied due to non-filing of returns; Tribunal restores exemption.
November 6, 2024   Case Laws     Income Tax

Kaccha Aaratiya's TDS credit eligibility on commission & interest income upheld for agricultural produce sales.
November 6, 2024   Case Laws     Income Tax

Lands acquired by assessee: Agricultural or urban for TDS u/s 194L - Matter remanded for thorough inquiry.
November 6, 2024   Case Laws     Income Tax

Hospital pharmacy income exempted; 15% deduction allowed on gross receipts for charitable trust.
November 6, 2024   Case Laws     Income Tax

Bank's tax battle: Expense disallowances, exempt income, broken period interest, stock revaluation, pension cap, bad debt recovery.
November 6, 2024   Case Laws     Income Tax

Lack of approval for scrutiny renders assessment void.
November 6, 2024   Case Laws     Income Tax

More Highlights

Articles Articles, Tax Laws, GST

Short Notes Short Notes

Unraveling the Mineral Rights Regime: The Supreme Court's Landmark Judgment
Navigating the Faceless Assessment Regime: A Judicial Perspective
Evidentiary Value of Statements Recorded During Income Tax Surveys: A Judicial Analysis
Faceless Assessment: Ensuring Compliance with Statutory Provisions
Faceless Assessment Mechanism: Jurisdictional Limits in Income Tax Proceedings
Reassessment Notices for AY 2013-14: Upholding the Doctrine of Limitation
Principles of Tax Fairness and Mens Rea: Quashes Penalty for Mere Technical Errors
Decoding the Mandatory Timelines: A Thorough Examination of the Income Tax Assessment Order Nullification
Expiry of E-Way Bill AND Mens Rea: Technical Violation Alone Insufficient for Penalty Imposition
Maintainability of Appeals: High Court Upholds Strict Interpretation of Limitation Provisions in GST Act
Stay of Tax Demand: Interpreting the Discretionary Power u/s 220(6) of the Income Tax Act
Interpreting "Technical Services" under Tax Treaties: A Comprehensive Analysis
Interpreting "Or": The Disjunctive Mandate for Personal Hearing in Tax Matters
Navigating the Registration Process u/s 80G: Insights from the ITAT Ruling
Ensuring Fair Proceedings: The Importance of Proper Notice Service in Income Tax Matters
Demarcating Authority: High Court Clarifies Jurisdictional Limits of GST Officers
Unraveling the Royalty Conundrum and DTAA: ITAT's Stance on Marketing and Reservation Fees
Royalty or Not? Decoding the Taxability of Marketing and Reservation Contributions under India-USA DTAA
Unraveling the Intricacies: Assessing a Political Party's Claim for Income Tax Exemption
Bogus Capital Gains and Accommodation Entries: Unraveling the Penny Stock Scam and Tax Evasion
Strict Interpretation of Exemption Provisions: Supreme Court's Ruling on Section 10B(8) of the Income Tax Act
Disallowance u/s 14A: Prospective or Retrospective Effect of the Amendment?
Navigating the Complexities of "Charitable Purpose" in Income Tax Exemptions
Cooperative Banks vs. Primary Agricultural Credit Societies: Implications for Section 80P Deduction
Exemption u/s 11: Condonation of Delay in Filing Form 10

More Notes

Notifications Notifications

ADD

- Seeks to impose ADD on Welded-Stainless Steel Pipes and Tubes from Thailand and Vietnam
November 4, 2024

Cus (NT)

- Sea Cargo Manifest and Transshipment (Fourth Amendment) Regulations, 2024.
October 30, 2024

Cus (NT)

- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
October 30, 2024

IT

- Specifying Forms prescribed in Appendix-II of the Income Tax Rules 1962, to be furnished electronically under sub-rule (1) and sub-rule (2) of Rule 131 of the Income-tax Rules, 1962
October 30, 2024

Cus (NT)

- Central Board of Indirect Taxes and Customs, appoints the Commissioner of Customs (Adjudication), Mumbai
October 29, 2024

Cus (NT)

- Land Customs Stations and Routes for import and export of goods - Notifying Ultapani LCS route Road from Ultapani via Saralpara via Naharani (SSB Camp) to Sarpang District (Bhutan) by amendment of Principal Notification No. 63/1994-Customs (N.T.) dated 21st November, 1994
October 29, 2024

FTP

- Alignment of RoDTEP Schedule consequent to changes in the First Schedule of Customs Tariff Act w.e.f. 01.10.2024.
October 28, 2024

CE

- Seeks to amend No. 11/2017-Central Excise, dated the 30th June,2017 so as to align it with amended Fourth Schedule to Central Excise Act, 1944
October 28, 2024

Indian Law

- Amendment in Notification No. S.O. 1443(E) Dated 18-4-2016 - Credit Guarantee Fund for Micro Units (CGFMU)
October 24, 2024

CE

- Amendment in Fourth Schedule of the Central Excise Act, 1944
October 24, 2024

Cus (NT)

- Retrospective Exemption from any amount is payable under customs duty on the import of “Rough diamonds (industrial or non-industrial)” for the specified period from 1.7.2017 to 1.2.2022
October 23, 2024

Cus (NT)

- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
October 23, 2024

FTP

- Procedure for export of sesame seeds to the United States of America (USA)
October 23, 2024

FTP

- Amendment in Export Policy of Non-Basmati Rice under HS code 1006 30 90
October 23, 2024

IGST Rate

- Corrigendum - Notification No. 09/2024- Integrated Tax (Rate), dated the 8th October, 2024 - RCM on Renting of immovable property
October 22, 2024

More Notifications

Circulars/ Public Notices Circulars/ Public Notices

SEBI

- Disclosure of expenses, half yearly returns, yield and risk-o-meter of schemes of Mutual Funds
November 5, 2024

DGFT

- Enabling provisions for import of inputs that are subjected to mandatory Quality Control Orders (QCOs) by Advance Authorisation holders, EOU and SEZ
November 5, 2024

SEBI

- Investments in Overseas Mutual Funds/ Unit Trusts by Indian Mutual Funds
November 4, 2024

Income Tax

- Order under section 119(1) of the Income-tax Act, 1961 fixing monetary limits of the income-tax authorities in respect of reduction or waiver of interest paid or payable under section 220(2) of the Income-tax Act
November 4, 2024

Customs

- Guidelines for Customs field formations in maintaining ease of doing business while engaging in investigation into tax evasion cases in import or export
November 1, 2024

DGFT

- Amendment in 4.59 of Handbook of Procedures, 2023 and modification in Standard Input Output Norms (SION) M-1 to M-8 for export of jewellery
November 1, 2024

DGFT

- Further abeyance of Public Notice No. 05/2024 dated 27.05.2024 until 31.12.2024.
November 1, 2024

Customs

- Disposal of gold - revised mapping of Customs jurisdictions to Focal Customs Commissionerate (FCC) and India Government (IG) Mints
October 30, 2024

Customs

- Mandatory additional qualifiers in import/export declarations in respect of Synthetic or Reconstructed Diamonds w.e.f 01.12.2024
October 30, 2024

Income Tax

- Condonation of delay under clause (b) of sub-section (2) of section 119 of the Income-tax Act, 1961 for returns of income claiming deduction u/s 80P of the Act for Assessment Year 2023-24
October 30, 2024

IBC

- Centralized Electronic Listing and Auction Platform for the Sale of Assets under Liquidation Process
October 29, 2024

Customs

- Revised List of High End and High Value used/refurbished Medical Equipment other than critical case medical equipment
October 28, 2024

DGFT

- Modification of SION E-125 for export of Shea Stearine.
October 28, 2024

Income Tax

- Extension of due date for furnishing return of income for the Assessment Year 2024-25
October 26, 2024

SEBI

- Periodic reporting format for Research Analysts and Proxy Advisers
October 25, 2024

More Circulars

News News, PIB

Cabinet approves infusion of equity of Rs.10,700 crore in Food Corporation of India by way of conversion of Ways and Means Advance to equity in 2024-25
November 6, 2024


Government of India and ADB sign $200 million loan to upgrade water supply, sanitation, urban mobility, and other urban services in Uttarakhand
November 6, 2024


Shri M. Nagaraju, Secretary, Department of Financial Services (DFS), reviews credit disbursement to agri-allied sector by Public Sector Banks (PSBs)
November 6, 2024


Advisory for Form GST DRC-03A
November 6, 2024


Advisory: Time Limit for Reporting e-Invoice on the IRP Portal – Lowering of Threshold to AATO 10 Crores and Above
November 6, 2024


CCI approves acquisition of shares of STT GDC Pte. Ltd by Ruby Asia Holdings II Pte. Ltd. and Singtel Interactive Pte. Ltd. subject to compliance of certain voluntary commitments submitted by the parties
November 6, 2024


Change in Release Time for Consumer Price Index (CPI) and Index of Industrial Production (IIP)
November 6, 2024


DFS Secretary stresses focus on timely and quality redressal of public grievances by PSBs
November 6, 2024


India-Qatar Financial Intelligence Units (FIUs) meet in New Delhi to enhance cooperation between the two countries in fighting the menace of money laundering and financing of terrorism
November 5, 2024


Shri Surjit Bhujbal, CBIC Member (Customs) participates in a seminar on ‘Gender Inclusivity in Customs supply chain’, organised by CGST & Customs Zone Pune
November 5, 2024


Government e Marketplace (GeM) launches 170 Seed Categories on the portal
November 4, 2024


Gross and Net GST revenue collections for the month of Oct, 2024
November 1, 2024


Shri Piyush Goyal concludes successful visit to Kingdom of Saudi Arabia, strengthening India-Saudi Arabia economic ties at the 8th Edition of Future Investment Initiative
November 1, 2024


Monthly review of accounts of Government of India upto September, 2024 (FY 2024-25)
October 30, 2024


Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Ladakh
October 30, 2024


More News

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Jiva Seva is Shiva Seva:
Service to humanity is Service to God

May I be born again and again, and suffer thousands of miseries so that I may worship the only God that exists, the only God I believe in, the sum total of all souls—and above all, my God the wicked, my God the miserable, my God the poor of all races, of all species, is the special object of my worship.

- Swami Vivekananda, CW, 5:137

 

 

 

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