Circular No. 03/2021-Customs To, All Pr. Chief Commissioners/ Chief Commissioners of Customs/ Customs (Prev.) All Pr. Chief Commissioners/ Chief Commissioners of Central Tax/ Central Excise All Pr. Commissioners/ Commissioners of Customs/ Customs (Prev.) All Pr. Commissioners/ Commissioners of Central Tax and Central Excise Madam/Sir, Subject:
Payment of Tax By Fixed Sum Method Under QRMP Scheme W.e.f. 1st January 2021, the following two options, are available to the Taxpayers who are under Quarterly Returns and Monthly Payment of Tax (QRMP) Scheme for tax payment for the first 02 months of a
Instruction No. 105 To, All Development Commissioners Special Economic Zones Subject: One-time waiver of Custom Duty as well as inspection requirement in case of de-bounding of IT/ITeS Units in SEZs and exemption on the filing of BOE for goods sold by IT/ITeS SEZ unit which
GST on Contracts of Guarantee – Uncertainty Prevails Introduction With the introduction of the GST regime, different wings of the Department have become active in scrutinizing transactions involving various issues relating to the interpretation of GST provisions. One such transaction which has come up for
Case Covered: Genpact India Pvt. Ltd. Versus Union of India Facts of the Case: By this order, we propose to dispose of three writ petitions i.e. CWP Nos. 10302, 18876, and 16305-2020. In CWP Nos. 10302 and 16305-2020, the challenge is to the orders dated
Recent Amendments in GST covering E-Invoicing, Rule 86B and QRMP scheme E-invoicing under GST Legal Provisions N. N. 68/2019-CT Rule 48(4) The invoice shall be prepared by such class of registered persons as may be notified by the Government, on the recommendations of the Council,
Decoding of Finance Bill 2021 Amendment in section 7 1. Scope of Supply w.e.f. 01.07.2017 7) (1) For the purposes of this Act, the expression “supply” includes–– (a) all forms of supply of goods or services or both such as sale, transfer, barter, exchange, license,
Analysis of Finance Bill 2021 – Direct Tax Proposals Tax Rates FB Clause 2 IT Act Section 4 Effective from AY 2021-22 / AY 2022-23 Tax Rates No change Depreciation on Goodwill FB Clause 3(i), 7, 18, 20 IT Act Section 2(11), 32, 50,
Case Covered: S. Dilliraj Versus The Deputy Director, The Directorate of Enforcement Facts of the Case: Undisputed facts: First Leasing Company of India Limited (in short “FLCI”) was a company incorporated under the Companies Act, 1956 and was into the business of giving industrial finance.
Case Covered: R. Viswanathan Versus The Assistant Director, Directorate of Enforcement Facts of the Case: The incontrovertible facts are as under: Viswanathan (1 st petitioner/A.1) was into the business of imports and exports in the name and style of “Mercantile India”. Between 1999-2002, Viswanathan (A.1)
