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The government banned the export of these medicines: See notification
Notification No. 50/2015-20 Subject: Amendment in Export Policy of APIs and formulations made from these APIs. S.O.(E) In exercise of powers conferred by Section 3 of the Foreign Trade( Development & Regulations) Act, 1992(No.22 of 1992), as amended, read with Para 1.02 and 2.01 of
CGST Rules Amended for the Valuation of the Lottery.
Notification No. 08/2020 – Central Tax G.S.R……(E). – In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following rules further to
Online filling and Issuance of Preferential Certificate of Origin
To, 1. All Exporters/Member of Trade 2. All Designated Agencies under FTAs/PTAs 3. Embassy of the Republic of Korea in India/Embassy of India in Seoul Subject: Online filling and Issuance of Preferential Certificate of Origin under India Korea Comprehensive Economic Partnership Agreement (IKCEPA) for India’s
New Income Tax Regime – Structural Shift in Taxation under Income Tax Act
New Income Tax Regime – Structural Shift in Taxation under Income Tax Act 1961 Introduction Budget 2020 was considered to be unique in many ways. It was the first budget of the decade 2020. Moreover it was the most anticipated budget in recent times as
Income Tax Department conducts a search on a group of individuals in Raipur
PRESS RELEASE Income Tax Department conducts a search on a group of individuals, hawala dealers, and businessmen in Raipur On 27.02.2020, Income Tax Department conducted a search on a group of individuals, hawala dealers, and businessmen in Raipur. The search action was mounted on the
Apply for LUT for FY 2020-21
Who is required to apply for LUT? All taxpayers engaged in the export of goods and/or services can apply for LUT. There are two options for making an export. Section 16 of IGST provide for: Export on payment of IGST and claim refund. Export on
CA Shafaly GirdharwalMar 3, 2020Salient features of the Finance Bill, 2020 and Vivad se Vishwas Scheme by CA Ved Jain
DIRECT TAXES INTRODUCTION The Finance Minister presented her Second Budget on 1st February 2020. This budget was presented in the backdrop of the economic slowdown. The Indian economy which was supposed to grow at the rate of 6.8% during 2019-2020 has been projected to come
Steps taken by CBIC to facilitate clearances in view of situations arising due to the Corona Virus.
Trade Notice No. 52/2019-20 To, RA’s of DGFT All EPC’s/Commodity Board Subject: Steps taken by CBIC to facilitate clearances in view of situations arising due to the Corona Virus. It is to bring to the notice of all concerned that CBIC has issued the following
Brief Note on Lifting the Corporate Veil
Lifting of Corporate Veil Black Law’s Dictionary defines piercing of corporate veil as follows: “the judicial act of imposing personal liability on otherwise immune corporate officers, directors, or shareholders for the corporation’s wrongful acts” The principle of the veil of incorporation is a legal concept
Harshita AgarwalMar 2, 2020Newly Incorporated Trust is entitled to 12AA benefits
Case Covered: M/S. ANANDA SOCIAL AND EDUCATIONAL TRUST Versus THE COMMISSIONER OF INCOME TAX & ANR. Facts of the case: This appeal has been preferred by the appellant – Director of Income Tax against the impugned judgment and order passed by the Delhi High Court
Nidhi Auto Pvt Ltd Vs. CCE Noida: CENVAT without goods receipt
Case Covered: Nidhi Auto Pvt Ltd Versus C.C.E Noida-I Matter: Revenue contention that Cenvat Credit has been availed without the receipt of the goods. Revenue Investigation: 1. The appellant engaged in the manufacture of Sheet Metal components used for the manufacture of Air conditioners, Refrigerators,
CA Rachit AgarwalMar 2, 2020HUF can’t be taxed after partition
Case Covered: Shri S. Krishnappa (HUF) Versus Deputy Commissioner of Income Tax Facts of the case: This appeal is filed by the assessee and the same is directed against the order of learned CIT(A)-4, Bengaluru, dated 20.01.2011 for the Assessment Year 2005-06. In the course