Changes in HSN codes applicable to G&J industry effective from 1st May, 2023 as declared by CBIC
Changes in the HS code classification of jewellery effective from 1st May, 2023 as declared by CBIC Custom…
Input Service Distributor (ISD) Mechanism under GST – Proposed in Finance Bill 2024
The 50th GST council meet had recommended making ISD mandatory for distribution of common Input Tax Creditwhich are procured…
Appointment of Nodal Officer by dealers in Precious Metals & Precious Stones becomes mandatory
Directorate General of Audit Indirect Taxes and Customs issued Anti-Money Laundering (‘AML’) Standards and Combating the Financing of…
Declaration for deduction of TDS on salary for F.Y. 2023-24
A new scheme of taxation has been introduced by the Finance Act, 2023, by insertion of a new…
Rule Restricting The Value Of Exports Supply Upto 1.5 Times The Domestic Supply In Course Of Making A Zero-Rated Supply Is Ultra Vires: Karnataka High Court
Name of the case – Tonbo Imaging India Pvt Ltd Vs Union Of India (Karnataka High Court [Writ…
Summary of the important notifications issued by CBIC on 31st March 2023
CBIC has on 31st March 2023 issued certain notifications to implement the decisions taken by the GST Council…
For claiming ITC, genuineness of the transaction and actual physical movement of the goods is necessary – Supreme Court [pronounced under Karnataka VAT Law]
Name of the case – State of Karnataka v. M/s. Ecom Gill Coffee Trading Pvt. Ltd. [Civil Appeal…
FAQ on applicability of 6 digits HUID on gold Jewellery from 1st April 2023
Is it applicable only on gold Jewellery or all precious metal Jewellery? Ans: At present, only the Jewellery…
DGFT notified under FTP to permit Invoicing, payment and settlement of exports/imports in INR in sync with RBI’s circular
The DGFT vide Notification No. 33/2015-2020 dated September 16, 2022 notified Para 2.54(d) under the Foreign Trade Policy, 2015-2022 (“FTP”)…