The Directorate General of Foreign Trade (DGFT) vide its Public Notice No 13/2015-2020 dated 09th June 2022 extends the due date for filing of annual return under the Export Promotion Capital Goods (EPCG) Scheme for the year 2022-23 till 30th September 2022. Further, a late fee of Rs 5000/- for has been introduced for the returns
The Central Board of Direct Taxes (CBDT), Directorate of Income Tax (Systems) vide its Notification No 01 of 2022 dated 09th June 2022 releases the functionality to facilitate the deductor /collector to verify “Specified Person” under section 206AB and 206CCA of the Income Tax Act 1961. Section 206AB and 206CCA of the Income-tax Act1961 (effective
The Central Board of Indirect Taxes and Customs (CBIC) vide its Notification No 08/2022 – Central Tax dated 07th June 2022 waives off the interest for specified electronic commerce operators for late filing of GSTR-8 for the specified period. Central Board of Indirect Taxes and Customs Notification No. 08/2022 –Central Tax New Delhi, the 07th
The Central Board of Direct Taxes (CBDT) vide its Notification No 59/2022 [S.O. 2602(E)] dated 06th June 2022 amends the conditions for eligible investment fund under section 9A (8A) of the Income Tax Act 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 6th June 2022 S.O. 2602(E).—In
The Maharashtra Authority of Advance Ruling (AAR) consisting of Rajib Magoo and T.R. Ramnani has ruled that GST is not payable on fees collected towards training in respect of football, basketball, athletics, cricket, swimming, karate, and dance. The association, M/s Navi Mumbai Sports Association, has constructed an international sports complex on land allotted by M/s
The Central Board of Direct Taxes (CBDT) vide its Notification No 57/2022 [G.S.R. 404(E)] dated 31st May 2022 notifies the form and manner of filing an appeal to the High Court on ruling pronounced or order passed by the Board for Advance Rulings under section 245W(1). MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF
Can CA be arrested- Section 69 vs. Section 132 of the CGST Act In recent few months this topic of harassment and arrest of CA professionals been a matter of debate and agony amongst the GST practitioners. The provisions for arrests were created to tackle certain situations raised by some unscrupulous tax evaders. These
The Central Board of Direct Taxes (CBDT) vide its Notification No 56/2022 dated 28th May 2022 authorises the Assistant Commissioner of Income Tax / Deputy Commissioner of Income Tax (International Taxation), Circle -1(1)(1), Delhi to act as the ‘Prescribed Income-tax Authority’ for the purpose of issuance of notice under sub-section (2) of section 143 of
The Central Board of Direct Taxes (CBDT) vide its Notification No 55/2022 [S.O. 2426(E)] dated 27th May 2022 amends the Notification No 03/2021 dated 12th January 2021 for giving effects of Faceless Penalty (Amendment) Scheme 2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 27th May 2022 (INCOME-TAX)
The Central Board of Direct Taxes (CBDT) vide its Notification No 54/2022 [S.O. 2425(E)] dated 27th May 2022 amends the Faceless Penalty Scheme 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 27th May 2022 (INCOME-TAX) S.O. 2425(E).— In exercise of the powers conferred by sub-section (2A) of
