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Measures to facilitate trade during lock down period by CBIC
Measures to facilitate trade during lockdown period – Section 143AA of customs act 1962 ( Circular no 17/2020 customs ) In light of unprecedented situations arising due to COVID 19, CBIC has been receiving a lot of queries regarding the furnishing of the bond
Tarun BhatiaApr 4, 2020Shipping Lines advised not to impose container detention charges on import and export shipments at Ports
Shipping Lines advised not to impose container detention charges on import and export shipments at Ports Ministry of Shipping has advised the shipping lines not to impose any container detention charges on import and export shipments for the period from 22nd March 2020 to 14th
No extension in due date: 31/2020
No extension in due date: Notification 31/2020 A reading of this notification is converted by many readers as an extension of the due date. But in reality, it is not an extension of the due date. The liability of interest is reduced/waived off in some
FORCE MAJEURE –CORONA VIRUS- ITS IMPLICATIONS
FORCE MAJEURE –CORONA VIRUS- ITS IMPLICATIONS Force majeure meaning “superior force” chance occurrence, unavoidable accident, is a common clause in contracts that essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties, such as a
Advocate Pradeep KumarApr 4, 2020Form 3CD – Schema Change Document
Form 3CD – Schema Change Document 1 Purpose The purpose of this document is to track the changes done in Form 3CD Schema post first release. 2 Release changes The below section describe the list of XML schema changes since the first production release of
Uttarakhand AAR order in the case of M/s. V K Enterprises
Case Covered: M/s. V K Enterprises Facts of the case: This is an application under sub-Section (1) of section 97 of the CGST/SGST Act, 2017 (hereinafter referred to as Act) and the Rules made thereunder filed by M/s. V K Enterprises, Raipur Sahakari Audyogic Kherea,
All about Equalisation levy and amendments in Finance bill 2020
All about Equalisation levy and amendments in Finance bill 2020: Finance act 2020 has brought major changes in Equalization levy which are applicable from 01 – April -2020. But before that just giving slight information on Equalisation levy. Introduction: Section 163 to 172 deals with
Tarun BhatiaApr 3, 2020Clarification Related to Trading Window Closure
BSE has issued circular to listed companies today regarding Trading Window. ➡Listed companies are generally required to close their trading window, from the end of each quarter up to 48 hours after the declaration of financial results. ➡Now, since SEBI has extended the due dates
Compilation for Statutory Audit of Bank Branches (2019-20)
Compilation for Statutory Audit of Bank Branches (2019-20) General Information Branch Audit is a stepping stone to the Final Audit of the Bank which culminates into the generation of Annual Reports. The Bank’s financial statements are prepared under the historical cost convention, on the accrual
Issues arising from Refund related Circular No. 135/05/2020 dated 31-03-2020
Issues arising from Refund related Circular No. 135/05/2020 dated 31-03-2020 1. Bunching of Financial years has been allowed for the purpose of claiming refunds. Now, this may result in assessee having applied for lesser refund as compared to refund actually admissible as per Circular However,
CA Vinamar GuptaApr 2, 2020Non-refundable advance to EPF members in the event of the outbreak of epidemic or pandemic
To, All Addl CPFCs in charge of Zones All RPFCs in charge of Regional Offices All OICs in charge of District Offices Sub: Forwarding of notification GSR.225(E) dated 27.03.2020 inserting Sub-Para (3) under Para 68L of the EPF Scheme, 1952 to provide for non-refundable advance
Recent major judgements of Indirect Tax Volume 3
Recent major judgements of Indirect Tax Volume 3 GST A. GST: AAR shall be required to determine the place of supply wherever it is necessary for determining the liability of the registered person to pay tax The petitioner has entered into a contract with its
CA Tushar AggarwalApr 2, 2020