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Income Tax - Monetary limits for departmental appeals before ITAT, HC and SC revised

9th August 

Ministry of Finance has enhanced the monetary limits for filing income tax appeals by Revenue department before ITAT, High Courts and Supreme Court.

According to CBDT Circular No. 17/2019, dated 8-8-2019, Revenue department would not be able to file appeal before ITAT if the amount (tax effect) does not exceed Rs. 50 l...

Trade remedies – Changes proposed in rules for safeguard, ADD and CVD measures

26th July

Directorate General of Trade Remedies in India has sought comments from all stakeholders regarding certain changes proposed in the Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997, Customs Tariff (Identification, Assessment and Collection of Countervailing Duty on Subsidized Articles ...

Budget 2019 proposes Sabka Vishwas Legacy Dispute Resolution Scheme

8th July

India’s Finance Minister has, in her maiden Budget 2019, on 5th of July, proposed a dispute resolution cum amnesty scheme named the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019.

The scheme in being introduced for the resolution of legacy disputes relating to central excise, service tax and cesses, all earlier subsum...

Union Budget proposes penalty for obtaining & utilizing FTP instruments by fraud

8th July

Finance (No.2) Bill, 2019, introduced in the Indian Parliament on 5th of July, has proposed to insert new Section 114AB in the Customs Act, 1962 to provide for penalty for obtaining instrument (scrip, authorization, licence, or certificate, etc.) by fraud, collusion, willful misstatement of suppression of facts, and where such instrume...

35th Meeting of GST Council – Decisions on rate changes and time extensions

24th June 2019

The 35th meeting of GST Council was held on 21-6-2019.
Some of the important recommendations relating to time extension are,
  • Due date for furnishing of Form GSTR-9, Form GSTR-9A and reconciliation statement in Form GSTR-9C to be extended till 31-8-2019.
  • Due date for furnishing ...

Flash sale price acceptable for Customs valuation purposes: WCO

20th June

The Technical Committee on Customs Valuation at WCO has at its 48th Session recently adopted an instrument (Advisory Opinion 23.1) on valuation of goods purchased in a flash sale.

Reiterating transaction value as primary basis under the Agreement on Implementation of Article VII of GATT 1994, Committee concluded that highly discou...

IGST not payable on supplies from Duty Free Shops at International Airport

11th June 2019

Allahabad High Court has, in a PIL, held that supply of imported goods to Duty Free Shops (DFS) and from DFS at international airport do not attract any customs duty or IGST.

The Court in this regard noted that the effective taxable event for levy is when the Bill of Entry is filled, whereas here goods do not cross the custom...

Kerala Flood Cess will be imposed from 1st of July 2019

11th June 2019

Kerala Flood Cess on intra-State supplies of certain goods and services in the State of Kerala will be imposed from 1st of July 2019 for the period of two years.
This Cess was earlier proposed in the Kerala Finance Bill 2019 and is for the purpose of providing reconstruction, rehabilitation and compensation n...

FAQs on Real Estate Sector released

09th May 2019

Ministry of Finance has on 7-5-2019 issued FAQs in respect of recent amendments made for the real estate sector which have come into force from 1st of April 2019.

FAQs released under F. No. 354/32/2019-TRU, dated 7-5-2019 clarify on some 41 questions relating to the new regime with reduced rate of GST.


DGAD findings can only be interfered with if there is procedural illegality

8th April

Delhi High Court has refused to interfere, under Article 226 of the Constitution, with DGAD final findings recommending non-imposition of Anti-dumping duty on AA Dry Cell Batteries imported into India from China and Vietnam. The Designated Authority had recorded a positive disclosure statement and contradictory to it, rendered negative final fin...

NCCD exemption available to units exempted from Excise duty

29th March

Supreme Court of India has held that manufacturing units in special categories states which were exempt from Central Excise duty would also be exempt from National Calamity Contingent Duty (NCCD), since NCCD is of the nature of an excise duty. 

The court in the case of Bajaj Auto Ltd. v. UOI held that same view on t...

Appeal proceedings against defunct company not infructuous

27th March

The departmental appeal before the jurisdictional High Court was dismissed by terming it ‘infructuous’, on the sole ground that since the assessee company’s name had been struck-off from the Register of the Company u/s. 560(5) of the Companies Act, 1956, it stands dissolved and the issue need not be decided.  

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