☛ DGFT: Extension of the validity period of EPCG Authorisation-reg.

☛ Income Tax: Taxability of compensation received - nexus with professional activities - the said compensation did not accrue / arise out of exercise of profession by the assessee and could not be construed to be the income of the assessee or profits and gains of profession within the meaning of Section 2(24) and Section 28 of the Income Tax Act, 1961

☛ Income Tax: Chargeability of transfer of sale of know-how on sale of product information - whether that amounts to the transfer of right to manufacture, produce or process any article or thing where the cost of acquisition would be nil - Not taxable.

☛ Income Tax: Rate of commission on the business of providing accommodation entry - It is just and proper to estimate the average commission @ 0.30% (30 paise to ₹ 1 per ₹ 100) on credit entries appearing in the bank account of the assessee.

☛ Income Tax: Prior period expenses - It is not the case of the revenue that the expenses have been claimed twice but the short ground of disallowance is that since the expenses pertain to an earlier year, these expenses cannot be allowed. That approach is impermissible in law.

☛ Income Tax: Disallowance of ad-hoc basis for the expenses - There is no statutory provision prescribed under the Act to make the disallowance of the expenses at the same rate at which these were disallowed in the preceding assessment years on year to year basis.

☛ Income Tax: Taxability of lease premium, interest income etc. in the hands of assessee - Ownership of land - irrevocable transfer of lands from the state government to the assessee corporation - assessee cannot be held as owner of the land - income is not taxable in its hand.

☛ Income Tax: Exemption of interest income u/s. 10(15)(iv) - Interest earned on bonds issued by IIFCL - principle of consistency is applicable in the instant case - benefit of exemption allowed.

☛ Indian Laws: Compromise of dispute - Dishonor of Cheque -Since, the petitioner has paid the entire amount as agreed to between the parties, therefore, quashing of the complaint initiated at the instance of complainant/respondent would be a step towards securing the ends of justice and to prevent abuse of process of the Court

☛ Customs: Import of restricted item - Chickpeas - there are large number of suicides by farmers, they still belongs to lower strata of society. - the restriction so imposed can never said to be in violation of Article 19(6) of the Constitution of India.

More Highlights

☛ NATIONAL FINANCIAL REPORTING AUTHORITY RULES, 2018

☛ RECENT ADVANCE RULINGS IN GST (PART-9)

☛ Comparative and Quick view of GSTR 9 and GSTR9C for better understanding

☛ GST ANTI-PROFITEERING LAW: TAKEAWAYS FROM NAA RULINGS

☛ ONE PERSON COMPANY (OPC)

☛ Complete Analysis of Annual Return And GST Audit Under GST Law

☛ TCS on E-Commerce Operators

☛ THE INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA

☛ THE COMPANIES (AMENDMENT) ORDINANCE, 2018 – AN ANALYSIS

☛ RECTIFICATION OF REGISTER OF MEMBERS

More Articles

☛ Cus (NT) - Exchange Rates Notification No.93/2018-Custom(NT) dated 15.11.2018

☛ Cus (NT) - Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg

☛ ADD - Seeks to extension of existing anti-dumping on "O-Acid" originating in or exported from China PR and imposed vide notification No. 6/2018-Customs (ADD) dated 12th March, 2018 to the imports originating and exported from China PR of "O-Ester"

☛ Co. Law - National Financial Reporting Authority Rules, 2018

☛ Co. Law - Companies (Registered Valuers and Valuation) Fourth Amendment Rules, 2018

☛ CGST - Corrigendum - Notification No. 60/2018-Central Tax, dated the 30th October, 2018

☛ IT - Central Government establishes an Appellate Tribunal at New Delhi

☛ IT - Central Government specifies that the New Delhi Bench of the Adjudicating Authority appointed under section 7 of the Prohibition of Benami Property Transactions Act, 1988 shall exercise jurisdiction under the said Act over the whole of India except the State of Jammu and Kashmir

☛ IT - Central Government appoints an Adjudicating Authority at New Delhi

☛ FEMA - Foreign Exchange Management (Deposit) (Amendment) Regulations, 2018

☛ Indian Law - Senior Citizens’ Welfare Fund (Amendment) Rules, 2018

☛ Cus (NT) - Notification giving Chief Commissioners powers to assign the cases for adjudication of show cause notices within their respective jurisdiction

☛ IT - CBDT specifies the jurisdictions

☛ CGST - TDS under GST - public sector undertaking - supply from one PSU to another PSU exempted from applicability of provisions relating to TDS

☛ FTP - Amendment in Para 4.32(i) of Chapter 4 and in Para 6.01 (a) of Chapter 6 of the Foreign Trade Policy 2015-20

More Notifications

☛ DGFT - Extension of the validity period of EPCG Authorisation-reg.

☛ DGFT - Amendments in Para 2.79A and 2.79B of Handbook of Procedures for issue of export authorization for "Stock and Sale" of SCOMET items.

☛ DGFT - Amendment in Para 2.54 of the Handbook of Procedures, 2015-2020

☛ FEMA - Exim Bank's Government of India supported Line of Credit of USD 3.5 million to the Government of the Republic of Suriname

☛ FEMA - Exim Bank's Government of India supported Line of Credit of USD 27.5 million to the Government of the Republic of Suriname

☛ FEMA - Exim Bank's Government of India supported Line of Credit of USD 2.5 million to the Government of Madagascar

☛ Companies Law - Constitution of Committee for Finalizing Business responsibility reporting (BPR) format for listed and unlisted Companies

☛ Customs - Implementation of PGA eSANCHIT — Paperless Processing under SWIFT-Uploading of Licenses/Permits/Certificates/Other Authorizations (LPCOs) by PGAs - reg.

☛ Customs - Implementation of Paperless Processing under SWIFT-Uploading of Supporting Documents (eSANCHIT) in Exports

☛ FEMA - External Commercial Borrowings (ECB) Policy – Review of Minimum Average Maturity and Hedging Provisions

☛ Goods and Services Tax - Collection of tax at source by Tea Board of India – Reg.

☛ Goods and Services Tax - Scope of principal and agent relationship under Schedule I of CGST Act, 2017 in the context of del-credere agent - Reg.

☛ DGFT - Amendment of Appendix - 2T of Appendices and Aayat Niryat Forms of Foreign Trade Policy, 2015-20 - reg.

☛ DGFT - Online issuance of RCMC by EPCs and its uploading on the DGFT server - reg.

☛ Trust and Society - Furnishing of information to Registrar Of Cooperative Societies — reg.

More Circulars

☛ 9th Session of the India - Kyrgyz IGC held in New Delhi

☛ 26th Conference of Central and State Organizations (COCSSO) held at Dharamshala, Himachal Pradesh

☛ Auction for Sale (Re-issue) of Government Stocks

☛ Government of India and the Asian Development Bank (ADB) Sign $105 Million Loan to Support Hydropower Transmission in Himachal Pradesh

☛ Government of India and the Asian Development Bank (ADB) sign $300 Million Loan to support India Infrastructure Finance Company Limited (IIFCL)in India

☛ Government of India and the Asian Development Bank (Adb) Sign $ 169 Million Loan to Provide Water and Sanitation Services in Tamil Nadu

☛ Innovation in farming need of the hour – Suresh Prabhu

☛ India will be Global Hub of Start-Up Community

☛ NITI Aayog organizes South Asian Regional Conference on Urban Infrastructure

☛ NITI Aayog Constitutes Himalayan State Regional Council

☛ India’s Foreign Trade: October 2018

☛ Government and Industry come together at a Workshop on Online Course on Digital Payments launched by NITI Aayog in collaboration with DoT and ITU

☛ India International Trade Fair 2018 Opens

☛ GST Council may have to take a view on the funding of NDRF - Shri N.K.Singh

☛ NITI Aayog’s Atal Innovation Mission and UNICEF announce Young Champions Awards on occasion of Children’s Day

More News

Labour supply by a contractor (18)

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Purchase rejection procedure in gst (15)

Gst paid under wrong head (13)

Clubbing of services for checking gst exemption limit (10)

Foreign inward remittance certificate - gst is applicable or not (10)

Gst on concessional food to employees (8)

Amendment of gstn in credit note & debit note (7)

Request for clarification on generation of invoice-gst (7)

Gst rate for individual residential house. (7)

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Exemption of vat on narrow woven fabrics in maharashtra... (1)

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F form in cst act (1)

Tax exemption for purchasing car for physically handicapped catagory... (1)

Import under advance authorisation (2)

E-way bill (2)

Guide for uploading tds return (2)

Composition gstr4 return (2)

Corporate tax @25% u/s 115ba or applicable to msme in respect of turnover... (1)

Key fact of gst (2)

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