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Case Laws Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Manuals SMS News Articles Highlights

SEBI: Securities and Exchange Board of India (Mutual Funds) (Third Amendment) Regulations, 2018

GST: Government Entity or not - Power Supply Infrastructure Development work - CIDCO is covered under the definition of the term ‘Government Entity’ as per Notification No. 31/2017-Central Tax (Rate) - Concessional rate of tax@ 12% would be applicable

GST: Requirement of registration - applicability of the GST Act - receipt of fees from members by the Lions Club of Poona, Kothrud - the amounts collected as ‘fees’ from the members are not for the purposes of making any ‘supply’ - The fees collected are used for social causes - No GST liability.

Income Tax: Accrual of income - accounting treatment in respect of prepaid cards - there must be the “right to receive the income on a particular date, so as to bring about a creditor and debtor relationship on the relevant date” -a right to receive a particular sum under the agreement would not be sufficient unless the right accrued by rendering of services

Income Tax: Drilling rig as a qualifying ship within the meaning of Section 115VD - Revenue’s contentions that the vessel is nothing but “offshore installations” has no merit, in the case of Matdrills of the kind put to use by the assessee

Income Tax: Depreciation on storage tanks - @10% or 15% - building or plant and Machinery - the same falls within definition of a “plants” which has been used by the assessee in the business of hiring them for storage petroleum products

Income Tax: Bogus long term capital gain - addition made towards unexplained cash credit u/s 68 - revenue did not indicate any specific evidence against the assessee in above terms qua the LTCG derived from transfer of share in STIL - additions deleted.

Income Tax: Reopening of assessment - AO cannot act mechanically on the basis of report of Investigation Wing and to show that the AO has applied his mind, he must distinct all those materials and he must also show that what was material on record.

Income Tax: MAT computation - Addition towards not deducting the waived interest amount of under ‘one time settlement’ for computing book profit u/s 115JB - sick industrial company - the assessee’s case falls under clause (vii) of explanation (1) to section 115JB - No additions.

Income Tax: Capital gain computation - the assessee is not eligible for deduction u/s 54 and shifting of the assessment year for making the addition on this account would not achieve any purpose rather it will defeat the purpose of provisions of section 54

More Highlights


Cus (NT) - Amendment to Notification no. 62/94-Customs (N.T.) dated 21.11.1994 notifying Port Meadow u/s 7(a) of Customs Act, 1962 for unloading of imported goods and loading of export goods or any class of goods

SEBI - Securities and Exchange Board of India (Mutual Funds) (Third Amendment) Regulations, 2018

Cus (NT) - Exchange Rates Notification No.96/2018-Custom(NT) dated 06.12.2018

Cus (NT) - Revised All Industry Rates of Duty Drawback

IT - Income-tax (13th amendment), Rules, 2018

IT - U/s 115JG(1) of IT ACt 1961 - Central Government notifies conditions a foreign company engaged in the business of banking in India

IT - TDS deduction under section 194A of the Income-tax Act, 1961 in case of Senior Citizens - reg.

Indian Law - Competition Commission of India (General) Amendment Regulations, 2018.

Cus - Amendment to notification no. 52/2003-Customs dated 31.03.2003 -reg.

CE - Amendment to notification no. 22/2003-CE, 23/2003-CE & 24/2003-CE all dated 31.03.2003 -reg.

CE (NT) - General Bond (Form B-17) to be executed by the EOUs

SEBI - Jurisdiction as Special Court

ADD - Seeks to levy definitive anti-dumping duty on the imports of "Uncoated Copier Paper" originating in or exported from Indonesia, Thailand and Singapore

Co. Law - Companies (cost records and audit) Amendment Rules, 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

More Notifications

Circulars/ Public Notices

SEBI - Disclosure of significant beneficial ownership in the shareholding pattern

SEBI - Cyber Security and Cyber Resilience framework of Stock Exchanges, Clearing Corporations and Depositories

Customs - AEO programme digitization - Ease of doing business - Development of web-based application for AEO-T1- reg.

DGFT - Errata to Public Notice No.50/2015-2020 dated 26th November, 2018 notifying procedure for allocation of quota for import of (i) Calcined Pet Coke for use as Calcined Pet coke (CPC) in Aluminium Industry and (ii) Raw Pet Coke for CPC manufacturing industry.

Customs - Clarification with respect to amendments to Customs and Central Excise notifications for EOUs - reg.

FEMA - Exim Bank's Government of India supported Line of Credit of USD 500 million to the Government of the United Republic of Tanzania

DGFT - Change in Appendix 1A of Foreign Trade Policy, 2015-20 — reg.

DGFT - Availability of Speed Post dispatch particulars in MEIS module

SEBI - Cyber Security & Cyber Resilience framework for Stock Brokers / Depository Participants

DGFT - Amendments in the Appendix 3B, Table 2 of the Merchandise Exports from India Scheme (MEIS)

Customs - Procedure for disposal of un-claimed/un-cleared cargo under section 48 of the Customs Act, 1962, lying with the custodians –reg.

Customs - Procedure for movement of goods under TIR Carnets-reg.

SEBI - Trading hours for commodity derivatives segment

DGFT - Inserting new Appendix No.2X in the Appendices and Aayat Niryat Forms of Foreign Trade Policy, 2015-20 - reg.

DGFT - Insertion of a new provision under Para 2.103 and amendment in Para 2.104 - reg.

More Circulars

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Service to humanity is Service to God

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