Taxation - Corporate Law Reporter

SC judgement on Illegal import of fireworks/crackers dt. 12.09.2017

Instruction No. 13/2017- Customs F. No. 394/150/2014-Cus (AS) Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs (Anti-Smuggling Unit) New Delhi, dated 27th September 2017 To All Principal Chief Commissioners/Chief Commissioners of Customs / Customs (Preventive), All Principal Chief Commissioners/Chief Commissioners of Customs & Central Tax/Central Excise, All Principal… Read More

Clarification on Payment of Service Tax in Transitional Period

Certain transitional issues arising with respect to payment of service tax after 30th June 2017 have been clarified by CBEC vide circular dated 28-9-2017. It has been clarified that in cases where service was received before 1-7-2017 and payment for the value of the service was also made before 1-7-2017, but the service tax was… Read More

CBEC amends Customs Valuation Rules – Notification No. 91/2017 (NT) dated 26.09.17

Circular 39 / 2017-Customs F. No: 466 / 32 / 2015 – Cus V Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs New Delhi Dated, the 26th September 2017 To, All Principal Chief Commissioners of Customs All Chief Commissioners of Customs All Principal Commissioners of Customs All Commissioner… Read More

CBDT notifies FIFA U-17 World Cup as International sporting event u/s 10(39) IT Act

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 26th September, 2017 (INCOME-TAX) S.O. 3129(E).—In exercise of the powers conferred by clause (39) of the section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following as the international sporting event, persons and… Read More

Govt. notifies Customs Valuation (Determination of Value of Imported Goods) Amendment Rules, 2017

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION-3, SUBSECTION (i)] Government of India Ministry of Finance (Department of Revenue) (Central Board of Excise and Customs) Notification No. 91/2017-CUSTOMS (N.T.) New Delhi, 26th September, 2017 4 Asvina, 1939 (SAKA) G.S.R. ….. (E).– In exercise of the powers conferred by section 156 read with… Read More

Govt. notifies Customs and Central Excise Duties Drawback Rules, effective from 01.10.2017

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 21st September, 2017 No. 88/ 2017-CUSTOMS (N.T.) G.S.R. 1177(E).—In exercise of the powers conferred by section 75 of the Customs Act, 1962 (52 of 1962) and section 37 of the Central Excise Act, 1944 (1 of 1944), the Central Government hereby makes the following rules,… Read More

Tax Payers Advised To Confirm Identities Of Income Tax Search Authorities

The Income Tax Department in the Delhi region regularly conducts search/survey/verification exercises in case of suspected tax evaders to uncover concealment of undisclosed income/assets as per the law. However, instances have been brought to the notice of department wherein, certain unscrupulous elements have conducted unauthorized / illegal searches through forged identity cards claiming to be… Read More

CBEC notifies Exchange Rate of Foreign Currency Relating To Imported and Export Goods

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No.84/2017-CUSTOMS (N.T.), dated 7thSeptember, 2017, except as respects things done or omitted to be done before such supersession, the Central Board of Excise and Customs hereby determines… Read More

Anti dumping duty imposed on New/unused pneumatic radial tyres originating in or exported form china

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 45/2017-Customs (ADD) New Delhi, the 18th September, 2017 G.S.R. (E).- Whereas in the matter of “New/unused pneumatic radial tyres with or without tubes and/or flap of rubber (including tubeless… Read More

CBDT proposes mechanism for Voluntary Reporting of Estimated Current Income and Advance Tax Liability

F.No.370142/27/2017-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) ********************************* New Delhi, September 19, 2017 Sub: Draft Notification for insertion of new rule 39A in the Income-tax Rules, 1962– comments and suggestions-reg. It is proposed to create a mechanism for self-reporting of estimates of current income, tax payments and… Read More

Tariff Notification: Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION-3, SUBSECTION (ii)] Government of India Ministry of Finance (Department of Revenue) (Central Board of Excise and Customs) Notification No. 87/2017-CUSTOMS (N.T.) New Delhi, 15th September, 2017 24 Bhadrapada, 1939 (SAKA) S.O. … (E).– In exercise of the powers conferred by sub-section (2) of section… Read More

Govt. amends certain customs notifications in pursuance to change made in Budget 2017-18

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No.76 /2017-Customs New Delhi, the 15 th September, 2017 G.S.R. (E). – In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52… Read More

MCA and CBDT signs MOU to curb the menace of Shell Companies and Money Laundering

MOU between the Ministry of Corporate Affairs and Central Board of Direct Taxes (CBDT) for Automatic and Regular Exchange of Information Taking forward the initiative launched by the Government of India to curb the menace of shell companies, money laundering and black money in the country and prevent misuse of corporate structure by shell companies… Read More