IGST exemption withdrawn on import of certain specified goods by Research Institutions: Notification

The Government via notification has withdrawn the exemption from the integrated tax leviable on import of goods specified in First Schedule to the Customs Tariff Act, 1975 and on import…

Continue ReadingIGST exemption withdrawn on import of certain specified goods by Research Institutions: Notification

Tax Dept. conducted searches on 2 business groups in Tamil Nadu; detects Rs. 500 crores of undisclosed income

The Income-tax Department has carried out search and seizure operations on two business groups of Tamil Nadu engaged in the business of Civil Contracts, Real Estate, Advertising etc. The search…

Continue ReadingTax Dept. conducted searches on 2 business groups in Tamil Nadu; detects Rs. 500 crores of undisclosed income

Pending QIP issue, its pricing and probable impact on share capital of the company is UPSI: SEBI

Shri Arvind Bajpai, CS of Deepak Nitrite Limited (DNL) sought an interpretative letter under the SEBI (Informal Guidance) Scheme, 2003 on the issue that whether pending QIP issue, its pricing…

Continue ReadingPending QIP issue, its pricing and probable impact on share capital of the company is UPSI: SEBI

CBIC issued instructions regarding change in export policy of Wheat Flour w.e.f. July 12, 2022

Recently, the Govt. had notified amendment in Export policy of Wheat Flour, Maida, etc. providing that such exports would be subject to recommendation of Inter Ministerial Committee (IMC) w.e.f. July…

Continue ReadingCBIC issued instructions regarding change in export policy of Wheat Flour w.e.f. July 12, 2022

Govt. exempts SAD, AIDC and RIC on 12% and 15% ethanol blended petrol: Notification

The Govt. had recently exempted excise duty on 12% ethanol blended petrol and 15% ethanol blended petrol vide Notification No. 12/2022-Central Excise, Dated 4-7-2022. Simultaneous exemption has also been provided…

Continue ReadingGovt. exempts SAD, AIDC and RIC on 12% and 15% ethanol blended petrol: Notification

Controlled Delivery ( Customs ) Regulations, 2022 notified; covers gold, silver, liquor, etc. within its scope

In line with Section 109A of the Customs Act, 1962, the Govt. notified Controlled ( Customs ) Regulations, 2022. Given this, the authorities are now empowered to undertake controlled delivery…

Continue ReadingControlled Delivery ( Customs ) Regulations, 2022 notified; covers gold, silver, liquor, etc. within its scope

Tax Dept. conducted search operation on 2 real estate groups of Bengaluru and Hyderabad

The Income-tax Department has carried out on two leading real estate groups of Bengaluru and Hyderabad. The search action covered more than 40 premises located in Bengaluru, Hyderabad, and Chennai.…

Continue ReadingTax Dept. conducted search operation on 2 real estate groups of Bengaluru and Hyderabad

CBDT standardizes process for approval of Electoral Trust; issues check-list to be filed with Form A

To avoid procedural delay in processing application for approval of an ‘electoral trust, the Central Board of Direct Taxes (CBDT) has issued a new format of the check-list which shall…

Continue ReadingCBDT standardizes process for approval of Electoral Trust; issues check-list to be filed with Form A