AAR Rajasthan has held that that activity of supply of manpower service for running & maintenance of the canteen for consideration in the course of business is covered under ‘supply’ as per section 7 of the CGST Act, 2017 and is liable to tax as per section 9 of the CGST Act, 2017. AAAR …
Hon’ble Tribunal of Kolkata has held that Period of limitation should be calculated as per General Clauses Act and therefore refund application has been filed within time and rejection of refund is incorrect.
Supreme Court has directed the GST council to issue Advsiroy for Implementing DIN for all communications sent by State Tax Officers to tax payers as this may bring in transparency and accountability in indirect tax administration- PRADEEP GOYAL Vs UNION OF INDIA AND ORS 2022-TIOL-66-SC-GST High Court in a recent judgement has granted an opportunity to …
RBI: Authorised Dealer Category-I License eligibility for Small Finance Banks [RBI/2022-23/104 DOR.LIC.REC.60/16.13.218/2022-23 dated 8th August 2022]
RBI: Stand-alone Primary Dealer (SPDs), authorized under section 10(1) of FEMA, 1999 shall also be eligible to offer Foreign Currency Settled Overnight Indexed Swaps (FCS-OIS)to persons not resident in India as well as to other AD Cat-I banks and eligible SPDs. [RBI/2022-23/105 FMRD.DIRD.05/14.03.046/2022-23 dated 8th Aug 2022]
Customs: Government has specified Passenger Name Record Information Regulations, 2022. [Notification No. 67/2022 Customs (N.T.) dated 8th August 2022]
Income Tax: CBDT notifies conditions & forms for exemption of amount received for Covid-19 Treatment from any person. [Notification No. 91/2022-Income Tax | Dated: 5th August, 2022]
Income Tax: CBDT notifies conditions for exemption to money received from employer or other person in Covid cases by family of deceased [Notification No. 91/2022-Income Tax | Dated: 5th August, 2022]
Income Tax: CBDT notifies Qatar Holding LLC as sovereign wealth fund U/s. 10(23FE). [Notification No. 93/2022-Income Tax Dated: 5th August, 2022]
SEBI: SEBI issued framework for restricting trading by Designated Persons (“DPs”) by freezing PAN at security level. [Circular No.SEBI/HO/ISD/ISD-SEC-4/P/CIR/2022/107 dated 5th August 2022]
RBI: RBI hikes policy repo rate to 5.40 per cent. [REF.No.MPD.BC.394/07.01.279/2022-23 dated 5th August 2022]
DGFT: The requirement for BIS certification for import of ‘Hexane, Food Grade’ is removed [Notification No. 24/2015-2020-DGFT | Dated: 4th August 2022.]
GST: Clarification regarding GST rates & classification (goods) based on the recommendations of the GST Council in its 47th meeting on Electric Vehicle , treated sewage water, Motor Chasis, Fly ash etc. . [Circular No. 179/11/2022-TRU dated 3rd August, 22]
GST: Circular issued for GST applicability on liquidated damages, compensation & penalty out of breach of contract and activities falling under “Agreeing to the obligation to refrain from an act or to tolerate an act or a situation, or to do an act” has been specifically declared to be a supply of service in para …
GST: CBIC issues clarifications regarding applicable GST rates & exemptions on 16 services. [Circular No. 177/09/2022-TRU dated 3rd August, 22]
Customs: CBIC imposes anti-dumping duty on Opal Glassware from UAE & China PR for a period of 5 years (Notification No. 24/2022-Customs (ADD) | Dated: 3rd August, 2022)
Customs: CBIC notifies notifying exchange rate with effect from 5th August, 2022 against Indian Rupees for Import and Export. [Exchange rate Notification No. 66/2022-Cus (NT) dated 04.08.2022]
Bizsol Update for the month August 2022: Article on ‘New Life lifeline for Filing of TRAN-1/2 or Revision of earlier Filed Forms’ by CA Manoj Malpani, Sr. Principal Advisor, Bizsolindia Services Pvt. Ltd.. Article on ‘GST Pre-Packed And Labeled Retail Pack Of Food Items’ by CA Abhishek Malpani, Advisor, Bizsolindia Services Pvt. Ltd. Changes …
47th GST Council meeting held on 28th & 29th June 2022 comes with a new proposal which says GST will be applicable on pre-packed and Labeled Pack of Food Items at the rate of 5% from 18th July 2022. The same has been notified through Notification No. 06/2022-CT (Rate) dated 13th July 2022. This proposal …
National Pension Scheme: e-Investment option provided for Government sector NPS subscribers. [Circular PFRDA/2022/17/SUP-CRA/05 dated 1st August, 22]
