Bank guarantee requirement for bond executed by EOUs-Clarification on waiver of bank guarantee-surety to EOUs  Circular No. 27/2018-Customs F.No. DGEP/EOU/GST/Misc/24/2017 Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs (Directorate General of Export Promotion) ****** New Delhi, Dated: 14th August, 2018 …

Moratorium u/s 14 of the Insolvency and Bankruptcy Code, 2016 not apply to a personal guarantor of a corporate debtor – Supreme Court ABCAUS Case Law Citation: ABCAUS 2467 (2018) 08 SC The instant appeal involved the question whether Section 14 of the Insolvency and Bankruptcy Code, 2016 …

Exclusions from both export and total turnover for deduction u/s 10A – CBDT Circular 4/2018. All charges/expenses in Explanation 2(iv) liable to be excluded Circular No. 4/2018 F. No. 279/Misc./140/2015/ITJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 14th August …

Forfeiture of gratuity is not automatic on dismissal from service; it is subject to sub-Sections (5) and (6) of Section 4 of The Payment of Gratuity Act, 1972. The Act must prevail over the Rules framed by the employer – Supreme Court ABCAUS Case Law Citation: ABCAUS 2467 …

Compensation paid to retiring partner consequent to family settlement-Deduction allowed as capital of firm was kept intact and business was continued by other coparceners  partners. ABCAUS Case Law Citation: ABCAUS 2466 (2018) 08 ITAT The instant appeal was filed by the assessee directed against CIT(A)’s order in sustaining …

Interest for late payment of service tax not penal in nature but only compensatory. ITAT deletes disallowance made under section 37 ABCAUS Case Law Citation: ABCAUS 2465 (2018) 08 The instant appeal was filed by the assessee directed against CIT(A)’s order in holding that the interest on delayed …