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Latest Updates on Income Tax, GST, Customs, Corporate Laws & more

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


























More Highlights

Articles Articles, Tax Laws, GST

Short Notes Short Notes

GST:

Ensuring Justice in GST Registration Cancellations: A Landmark High Court Ruling

IBC:

Limitation Period in Insolvency Appeals: A Step Towards Legal Clarity for determination of relevant date and Condonation of delay in filing an appeal.

Customs:

Navigating Trade Restrictions: India's Stance on North Korea Exports and Imports

IBC:

Deadline Adherence in Insolvency Claims: The Supreme Court on Enforcing Arbitration Awards Amidst Insolvency

IBC:

Resolution Plan Approvals: The Supreme Court's Clarification on NCLT and NCLAT's Jurisdiction in Insolvency Resolution.

Income Tax:

Navigating Tax Exemptions u/s 80P: The Supreme Court's Verdict on Cooperative Societies vs. Banks

Customs:

Supreme Court Verdict on Pre-Import Condition and IGST Exemptions: A Legal Analysis

Indian Laws:

Understanding Beneficial Ownership: A Landmark Admiralty Case in India

Customs:

Beneficial Ownership, Beyond Baggage in Customs Law: Seizure of foreign currency

SEZ:

Expanding Trade Horizons: The 2023 Amendment to SEZ Rules for Gem and Jewellery Units

GST:

The Significance of Signature: A Landmark Decision on GST Assessment Orders

Income Tax:

Principles of Natural Justice in Tax Litigation: Unraveling the Significance of Cross-Examination Rights in Tax Cases

Income Tax:

Deadline Extension for Processing E-Filed Tax Returns: Refund Claims on Income Tax Returns

DGFT:

Deadline Extended for Pharmaceutical Track and Trace System Implementation

Corporate Law:

MCA Announces Establishment of Central Processing Centre at IMT Manesar

Customs:

Export Obligation Compliance: Detailed SOPs for EPCG and Advance Authorization Holders

IBC:

IBBI Circular Update: Key Takeaways for Insolvency Professionals and Stakeholders

Income Tax:

Modes of filing of ITR: Amendments to Rule 12 of the Income Tax Rules 1962

GST:

Finance Bill, 2024 Insights: The Expansion of Input Service Distributor's (ISD) Role in GST

Indian Laws:

Understanding Burden of Proof in Cheque Bounce Cases: Insights from a Landmark Judgment

Indian Laws:

Analysis of Vicarious Liability under Section 141 of the NI Act in Partnership Firms: Liability in Cheque Bounce Cases

Income Tax:

Navigating Legal Timelines: The Impact of Incomplete ITBA Orders on Appeal Limitations.

Income Tax:

Navigating the Thin Line Between Charity and Commerce: Amendment of Trust Deed and Compliance with Section 13(1)(c)

Income Tax:

Changing Objectives of Registered Societies: Exemption u/s 11 and survival of the Registration u/s 12A r.w.s 12AA

Income Tax:

Judicial Scrutiny of Residential Status and Jurisdictional Shift in Income Tax Cases

More Notes

Notifications Notifications

FTP

- Amendment in import policy condition of Urea [Exim Code 310210101 in the ITC (IIS) 2022, Schedule - I (Import Policy)

FTP

- Amendment in Import Policy Condition for Duck Meat under Chapter 2 of ITC (HS) 2022, Schedule–I(Import Policy)

FTP

- Imposition of Minimum Import Price on Synthetic Knitted Fabrics up to 15th September 2024

Cus

- Corrigendum : Notification No. 60/2023-Customs, dated the 19th October, 2023

FTP

- Amendment in Policy condition of De-Oiled Rice Bran

IT

- Central Government specifies the “The Press Trust of India Limited, New Delhi” as a news agency set up in India solely for collection and distribution of news for two assessment years 2022-2023 to 2023-2024 for the purpose of section 10(22B)

Cus (NT)

- Seeks to amend Notification No. 58/2021-Customs (N.T.), dated the 01.07.2021 under sub-section (2) of Section 151B of the Customs Act, 1962 to notify Agreement or Arrangement on Cooperation and Mutual Administrative Assistance (CMAA) in Customs Matter of India and with other Countries

Cus (NT)

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

Cus

- Seeks to amend notification No. 22/2022- Customs dated 30.04.2022, in order to notify third tranche of India-UAE CEPA

Cus

- Seeks to further amend No. 11/2018-Customs, dated the 2nd February, 2018, to exempt SWS on EVs imported under of the Ministry of Heavy Industries' Scheme to promote manufacturing of electric passenger cars in India.

Cus

- Seeks to amend No. 50/2017-Customs, dated the 30th June, 2017 to give concession to EVs imported under of the Ministry of Heavy Industries' Scheme to promote manufacturing of electric passenger cars in India.

CE

- Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to increase the Special Additional Excise Duty on production of Petroleum Crude.

ADD

- Seeks to extend ADD on Aluminium Road Wheels imported from China PR.

FEMA

- Foreign Exchange Management (Non-debt Instruments) (Second Amendment) Rules, 2024

SEZ

- Central Government de-notifies an area of 4.767 hectares, thereby making resultant area as 5.85 hectares ) to set up a Special Economic Zone for Information Technology and Information Technology Enabled Services at Gachibowli Village, Serilingampally Mandal, Ranga Reddy District, in the State of Telangana (erstwhile Andhra Pradesh)

More Notifications

Circulars/ Public Notices Circulars/ Public Notices

DGFT

- Changes in origin declaration for Self-Certification under UK Developing Countries Trading Scheme (DCTS)

Customs

- Prohibition for import of ferocious breeds of dog

DGFT

- Amendments in Para 4.14 and 4.06 of the Handbook of Procedures 2023

SEBI

- Repeal of circular(s) outlining procedure to deal with cases where securities are issued prior to April 01, 2014, involving offer / allotment of securities to more than 49 but up to 200 investors in a financial year

Customs

- IGST refund on export of certain tobacco products -reg.

SEBI

- Simplification and streamlining of Offer Documents of Mutual Fund Schemes – Extension of timelines

SEBI

- Measures to instill trust in securities market – Expanding the framework of Qualified Stock Brokers (QSBs) to more stock brokers

DGFT

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

DGFT

- Procedure for Import Allocation for the Financial Year 2024-25, for import of Calcined Petroleum Coke for Aluminium Industry and Raw Petroleum Coke for CPC manufacturing industry

Customs

- Inclusion of gender specific infrastructure facilities to be provided by the Custodian CCSP-CFS/AFS/ICD under the HCCAR, 2009

Customs

- Encouraging Women participation in International Trade

Customs

- Product Designation for Commercial Import of Premium Frozen Duck Meat into India

DGFT

- Import of Menthol covered under ITC(HS) codes: 29061100, 30039021, 33012590 and 33012400 under Advance Authorisation/DFIA

DGFT

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

Income Tax

- Ex-post facto extension of due date for filing Form No. 26QE which was required to be filed during the period 01.07.2022 to 28.02.2023 (pertaining to F.Y. 2022-23)

More Circulars

News News, PIB

Patent office grants One Lakh Patents in one year


IEPFA invites comments from stakeholders to simplify, expedite and streamline claims settlement process


Inaugural address by Shri Shaktikanta Das, Governor, RBI at the Annual Conference of RBI Ombudsman, March 15, 2024, Mumbai


Highest monthly merchandise exports, in the current FY so far, recorded in February 2024. India’s merchandise exports in February 2024 stands at USD 41.40 Billion; an increase of 11.86% over USD 37.01 Billion in February 2023


Government approves E- Vehicle policy to promote India as a manufacturing destination for EVs


Union Minister Shri Piyush Goyal joins Indo-Pacific Economic Framework for Prosperity (IPEF) Virtual Ministerial Meeting


Government of India and ADB sign $23 million loan agreement to strengthen fintech ecosystem in India


MoU signing between DGFT and DHL


Government of India, ADB sign $181 million loan to improve livability and mobility in Ahmedabad


DRI’s busts major gold smuggling syndicate; seizes over 61 kg gold worth Rs. 40 crore in a Pan-India Operation ‘Rising Sun’


67th Meeting of Network Planning Group under PM GatiShakti evaluates five infrastructure projects


India signs protocol for establishment of its first bilateral institutional mechanism with Dominican Republic on trade and commerce


CCI approves merger of a financial technology company, Garagepreneurs Internet Private Limited with the North East Small Finance Bank


CCI approves acquisition of stake in Asian Institute of Nephrology and Urology Private Limited by TPG Growth V SF Markets Pte. Ltd. and Waverly Pte. Ltd. through Asia Healthcare Holdings Pte. Ltd.


MCA invites public comments on Report of Committee on Digital Competition Law and Draft Bill on Digital Competition Law


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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