Budget for 2022-23: Centre mulls sops to set up shipping lines
As exporters grapple with a global container shortage and exorbitant freight costs, the government is exploring a proposal to extend […]
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DGGI Officials bust network involving fake invoices worth more than Rs 4,500 crore; 1 held
Recently a case was booked by DGGI against some fake firms, which were found non existing at their principal place
Important Pronouncements
Under valuation of goods in invoice cannot be a ground for detention of the goods and Vehicle
K.P. Sugandh Ltd. v. State of Chhattisgarh & Ors. [WPT No. 36 of 2020, WPT No. 49 of 2020 dated
Important Pronouncements
IGST and Compensation Cess on goods re-imported after being exported for repairs would be wholly exempt
M/s Interglobe Aviation Limited v. Union of India & Anr. [W.P.(C) 5617/2021 dated June 1, 2021] The assessee was a
Notification And Circular, Notification and Circular
De-activation of IECs not updated on the DGFT after July 01, 2020 w.e.f. February 01, 2022
The DGFT issued Trade Notice 31/2021-22 dated January 14, 2021 w.r.t. all Importer-Exporter Codes (“IECs”) which have not been updated after July
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Gujarat HC issues notice to Centre on Plea seeking physical filing of ITR, Audit Reports on account of IT Portal glitches
The Gujarat High Court on January 12, 2022 issued notice to the Central Government on a plea seeking waiver of interest
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Digital coins issued by Indian exchanges to employees to face income tax complications
Cryptocurrencies or digital assets issued to employees by crypto exchanges as incentives are set to come under the taxman’s lens.
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India’s Foreign Trade for the month of December 2021
India’s overall exports (Merchandise and Services combined) in December 2021* are estimated to be USD 57.87 Billion, exhibiting a positive
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Govt. of Haryana conducted special drive against 81 risky taxpayers
The Excise and Taxation Department, Government of Haryana identified a list of 81 risky taxpayers exhibiting considerable shortfall in tax
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Navi Mumbai CGST Commissionerate busts ITC racket of more than Rs. 10 Crores
Acting on the intelligence about the operation of a fake ITC racket, the Officers of Navi Mumbai CGST Commissionerate of