Team Bizsol

Customs: Certain amendments notified for imposition of definitive anti-dumping duty on Cast Aluminium Alloy Wheels or Alloy Road Wheels used in Motor Vehicles originating in or exported from China PR, Korea RP and Thailand. [Notification No.30/2022-Customs (AAD) dated 28th Nov 2022]

Customs: Amendments notified for Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver. [Notification No.100/2022-Customs (NT) dated 30th Nov 2022]

Customs: CBIC extends exemption from maintaining deposits in ECL Under Customs Act, Till 31st March, 2023. [Notification No.98/2022 & 99/2022-Customs (NT) dated 29th Nov 2022]

Customs: Certain PTA & FTA notifications as 73/2005, 151/2009, 46/2011, 53/2011 & 69/2011 are amended. [Notification No.61/2022-Customs dated 25th Nov 2022]

GST: Instruction issued for clarifying manner of processing and sanction of IGST refunds, withheld in terms of clause (c) of sub-rule (4) of rule 96, transmitted to the jurisdictional GST authorities under sub-rule (5A) of rule 96 of the CGST Rules, 2017. [Instruction No. 04/2022-GST dated 28th Nov 2022]

GST: CBIC omitted CGST Rules 122,124,125,134 and 137 of constitution, terms of services of chairman and member etc related to National Anti-Profiteering Authority (NAA). Now, the authority for anti-profiteering is the Competition Commission of India (CCI). [Notification 24/2022-Central Tax Dt. 23rd Nov 2022]

GST: From 1st Dec 2022, Competition Commission of India is empowered to handle anti-profiteering cases. Accordingly, CCI will examine whether input tax credits availed by any registered person or the reduction in the tax rate have actually resulted in a commensurate reduction in the price of the goods or services or both supplied by him …

GST: From 1st Dec 2022, Competition Commission of India is empowered to handle anti-profiteering cases.(24.11.2022) Read More »

Central Excise Special Additional Excise Duty on Aviation Turbine Fuel increased to Rs. 9 per liter. [Notification 39/2022-Central Excise Dt. 16th Nov 2022]

Central Excise: Special Additional Excise Duty on Petroleum Crude increased to Rs. 10,200 per tonne. [Notification 38/2022-Central Excise Dt. 16th Nov 2022]

GST: CBIC amends instructions of FORM GSTR-9 and substituted the wordings in Part-V from the period from “April,2022 to September 2022” to “April, 2022 to October, 2022 filed upto 30th November, 2022” to give effect of increased time for claiming ITC & amendments w.r.t. previous year till October,2022 returns. [Notification 22/2022-Central Tax Dt. 15th Nov …

GST: CBIC amends instructions of FORM GSTR-9 and substituted the wordings in Part-V from the period from “April,2022 to September 2022” to “April, 2022 to October, 2022 filed upto 30th November, 2022” to give effect of increased time for claiming ITC & amendments w.r.t. previous year till October,2022 returns.(17.11.2022) Read More »

Income Tax: Notification 124/2022 Dated 14th November 2022- CBDT made changes in the Income Tax Authorities jurisdictional wise vide this notification by amending principal notification 50/2014 dated 22nd October 2014.

Income Tax: Notification 123/2022 Dated 14th November 2022- CBDT made changes in the Income Tax Authorities jurisdictional wise for Faceless Assessment proceedings under section 144B of the Income Tax Act 1961 by amending principal notification 60/2022 dated 10th June 2022.

Income Tax: Notification 122/2022 Dated 14th November 2022- CBDT made changes in the Income Tax Authorities jurisdictional wise vide this notification by amending principal notification 51/2014 dated 22nd October 2014.  

Income Tax: Notification 120/2022 Dated 11th November 2022- CBDT designates the Courts in the State of Himachal Pradesh, as Special Courts for the areas within their territorial jurisdiction for the purposes of section 280A of the Income-tax Act, 1961 and section 84 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax …

Income Tax: CBDT designates the Courts in the State of Himachal Pradesh, as Special Courts for the areas within their territorial jurisdiction for the purposes of section 280A of the Income-tax Act, 1961 and section 84 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.(15.11.2022) Read More »

Customs: Notification No. 96/2022-Cus (NT) dated 15th November 2022 -issued for Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold, and Silver- Reg. Details mentioned in the notification.

Customs: Koran Won Exchange Rate is amended vide Notification No. 95/2022 Customs (N.T.) dt. 14th November 2022 w.e.f. 15th November 2022 Currency            For Imports(INR)            For Exports(INR) Korean Won      06.30                                 05.95

Income Tax: CBDT has published FAQs on CSI file download from the E-Filing portal for TDS return filing