Month: May 2021
Govt. further waives IGST on import of COVID-19 medicines etc. for donation to Central/State Government, State authority, relief agency etc. MINISTRY OF FINANCE(Department of Revenue) Notification No.32/2021-Customs New Delhi, the 31st May, 2021 G.S.R. 355(E).—In exercise of the powers conferred by sub-section (1) of section 25 …
Emergency Credit Line Guarantee Scheme (ECLGS) expanded – ECLGS 4.0 for onsite oxygen generation, wider coverage of ECLGS 3.0 and increase in tenor for ECLGS 1.0 On account of the disruptions caused by the second wave of COVID 19 pandemic to businesses across various sectors of the …
Group or Ministers (GoM) constituted on GST concessions/exemptions to COVID relief material In pursuance of the decisions taken by the GST Council at the 43rd meeting on 28th May 2021, a eight members Group of Ministers (GoM) has been constituted to examine the issue of GST concessions/exemptions from …
Import-Exporter Code (IEC) Services not available due to non-availability of PAN Validation Services from 01.06.2021 to 06.06.2021 The Income Tax Depart is launching a new e-filing website on 7th June 2021. In preparation of the transition to the new system, the existing E-filing portal will not be available from …
Land cannot be considered as non agricultural, simply because of a Farm house located thereon . Existence of a farm house cannot change the classification of land ABCAUS Case Law CitationABCAUS 3504 (2021) (05) ITAT Important case law relied referred:Smt. Sarifabibi Mohmed Ibrahim vs. CIT 204 ITR 631 …
Authorised Dealers in India may lend to person resident outside India for making margin payments in respect of settlement of transactions involving Government Securities RESERVE BANK OF INDIA(Financial Markets Regulation Department)(CENTRAL OFFICE) NOTIFICATION MUMBAI, the 24th May 2021 Foreign Exchange Management (Borrowing and lending) (Amendment) Regulations, 2021 No. …
RBI releases Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks. If Fixed deposit shares in bank deposits declines in total deposits? The Reserve Bank of India (RBI) has released Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks (SCBs), March 2021 on its Database on Indian …
GST Council 43rd Meeting- Key decisions taken Union Finance Minister N Sitharaman chaired the 43rd GST Council meeting held on 28/05/2021 today. Recommendations of 43rd GST Council meeting Amnesty Scheme to provide relief to taxpayers regarding late fee for pending returns ; Late fee also rationalised for future …
CBDT gives benefit of extended period of limitation for filing appeal before CIT(A) to comply with Supreme Court Order. Read Circular No. 10/2021 CBDT vide Circular No. 08/2021 dated 30th April, 2021 provided various relaxations till 31st May 2021 including extending time for filing the appeals before CIT …
DGFT notifies Fee of Rs 200/-per Certificate of Origin (Non Preferential). Amendment in Para 2.108 (c) (iv) of Handbook of Procedure, 2015-20 Fee notified for Certificate of Origin (Non Preferential) MINISTRY OF COMMERCE AND INDUSTRY(Department of Commerce)(DIRECTORATE GENERAL OF FOREIGN TRADE) Public Notice No.05/2015-2020 New Delhi, the 27th …
