22 Apr 2021

CBIC withdraws the customs duty on imports of COVID-19 Drug

By Admin
Category Miscellaneous
Views 332

The Central Board of Indirect Taxes & Customs (CBIC) has waived off the custom duty on imports of Remdesivir and active pharmaceutical ingredients used in the manufacturing of COVID-19 drug until October 31, 2021 [vide Notification No. 27/2021 – Customs dated April 20, 2021].

24 Mar 2021

Delhi CESTAT sets aside the S.T. on liquidated damages for the breach of contract

By Admin
Category Miscellaneous
Views 364

{Citation : South Eastern Coalfields Limited vs Commissioner of Central Excise and Service Tax}
The Appellant had entered into various commercial agreements, whereby specific clauses were provided for the penalty for non-observance / breach of terms of the contract, to safeguard the Appellant's interests

05 Dec 2020

Validation of Unique Document Identification Number (UDIN) by ICAI portal during Tax Audit Reports

By Admin
Category Miscellaneous
Views 933

Validation of Unique Document Identification Number (UDIN) by ICAI portal during Tax Audit Reports

18 Nov 2020

Getting LTC in Salary but cannot travel due to COVID -19: Government announces Tax Benefit

By Admin
Category Miscellaneous
Views 646

Before the widespread COVID-19 pandemic, many employees planned vacation trips with the benefit of Leave Travel Allowance (LTA). But now, owing to the harmful effects of illness caused by the coronavirus, the employees who had leave travel concession as an component in their salary structure may not be able to avail the tax exemption shortly even in the near future.

24 Oct 2020

VAT TO BE IMPLEMENTED FROM APRIL 2021 IN OMAN

By Admin
Category Miscellaneous
Views 462

The Sultan of Oman named Sultan Haitham bin Tariq bin Taimur has issued a Royal Decree 121/2020 on 12th October 2020 concerning the introduction of Value Added Tax (VAT) in Oman.