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Clarification on issue of GST rate on alcohol based hand sanitizers
Ministry of Finance Clarification on issue of GST rate on alcohol-based hand sanitizers The issue of the GST rate on alcohol-based hand sanitizers has been reported in a few sections of media. It is stated that hand sanitizers attract GST at a rate of 18%.
FAQs on Manufacture and Other Operations in Customs Warehouse: CBIC
FAQs on Manufacture and Other Operations in Customs Warehouse Central Board of Indirect Taxes and Customs (CBIC) has launched a revamped and streamlined program to attract investments into India and strengthen Make in India. This program is based upon Section 65 of the Customs Act,
Bank Sanctions Against the Economic Package Recently Announced
Bank Sanctions Against the Economic Package Recently Announced On May 12, the Prime Minister, Mr. Narendra Modi, announced a special economic package of Rs 20 lakh crore (equivalent to 10% of India’s GDP) with the aim of making the country independent against the tough competition
E1 Brochure on Customs Bonds
E1 Brochure on Customs Bonds “A scheme for manufacturing and other operations in a Customs Bonded Facility to Promote India as a Global Manufacturing Hub”. Overview India allows duty-free import of raw materials and capital goods for manufacturing and other operations in a bonded manufacturing
MCQs on Guidance Note on the Companies (Auditor’s Report) Order, 2020: ICAI
MCQs on Clause (i) Select True/ False: 1. Reporting on title deeds of immovable properties is not required where the company is lessee and lease agreement is duly executed in favour of the company. True. 2. Transfer Development Rights (TDRs), plant and machinery embedded in
West Bengal AAR in the case of M/s IZ-Kartex named after PG Korobkov Ltd
Case Covered: M/s IZ-Kartex named after PG Korobkov Ltd Facts of the case: The applicant is the local branch of a Russian business entity by the same name (hereinafter „Foreign Company‟), which entered into a Maintenance and Repair Contract (hereinafter called “MARC”) with Bharat Coking
Capacity Building Initiatives of the Committee for Members in Practice: ICAI
Unsecured Term Loan Facility Product Features a) Minimum loan amount INR 2 lakh and max INR 30 lakh. b) Rate of Interest – 9.99 % p.a. up to 36 months (reducing balance method). c) Collateral Free Loan & No Processing Fee d) Takeover of high
Circular No. 13 /2020
Circular No. 13 /2020 F. No. 225/59/2020/ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, dated the 13th of July 2020 Subject: – One-time relaxation for Verification of tax-returns for the Assessment years 201S-16, 2016-17, 2017-18, 2018-19
HSN Classification at Surat ICAI on 23.02.2020
Era Before The Introduction of HSN Classification Era refers to common practices adopted for doing a Trade-in Inbound as well as Outbound territories of the Countries; Inbound refers to the trade done within the domestic territories of the country whereas Outbound refers to the trade
Evasion of GST in respect of Hand Sanitizers (Alcohol Based)
Directorate General of GST Intelligence Date: 10.06.2020 To, Pr. Chief Commissioner/ Chief Commissioner, CGST & CX All CGST and CX Zones (Lists Attached) Madam/Sir, Subject: Evasion of GST in respect of Hand Sanitizers (Alcohol Based)- Intelligence-Regarding. Central Economic Intelligence Bureau, New Delhi, has, vide F.
Delhi HC in the case of Clean Wind Power Kurnool Private Limited
IN THE HIGH COURT OF DELHI AT NEW DELHI W.P.(C) 3902/2020 & CM APPL. 13961/2020 CLEAN WIND POWER KURNOOL PRIVATE LIMITED ….. Petitioner Through: Mr. Rajat Mittal, Advocate with Mr. B.L. Goyal, Advocate versus THE DEPUTY COMMISSIONER OF INCOME TAX TDS CIRCLE 73 1 &
Income Tax ComplianceDeductions under section 80C of Income tax Act for FY 2019-20
What are the deductions under section 80C of the Income-tax Act 1961? Deductions under section 80C are relevant for every person filing an ITR. Section 80C of the income tax act describes the deduction which helps to reduce the tax liability. This section contains two