New Delhi Sep 18 (PTI) Shapoorji Pallonji Group Chairman Shapoor Mistry has welcomed the Reserve Bank of India's decision requiring Tata Sons to comply with regulations governing upper-layer non-bank financial companies, saying the move could mark a turning point for transparency and accountability at the holding company of the Tata group. Mistry, whose family’s Shapoorji Pallonji Group owns about 18.4 per cent of Tata Sons, said the RBI’s decision had provided “full clarity” and that he loo... ... ...

GOVERNMENT OF GOA Department of Finance Office of the Commissioner of Commercial Taxes Notification 38/1/2017-Fin(R&C)(25/2018-Rate) Porvorim, 31st December, 2018. In exercise of the powers conferred by sub-sections (1) of section 11 of the Goa Goods and Services Tax Act, 2017 (Goa Act 4 of 2017), the Government of Goa, on the recommendations of the Council, hereby makes the following further amendments in the Government notification No. 38/1/2017-Fin(R&C) (2/2017-Rate), dated ... ... ...

Goa SGST notification framework operating under sub-section (3) of section 54 replaces the earlier reference to supplies specified in sub-item (b) of item 5 of Schedule II with a detailed description of construction services. The revised description concerns construction of a complex, building, or part thereof intended for sale, wholly or partly, to a buyer where the consideration charged includes the value of land or an undivided share of land.

Goa GST reverse-charge service entries expressly include the Ministry of Railways (Indian Railways) in serial number 5, item (2), sub-item (i), alongside the Department of Posts. Serial number 5A correspondingly excludes Indian Railways from its Central Government services description. The paired amendments place Indian Railways under serial number 5 rather than serial number 5A and take effect on 20 October 2023.

OFFICE OF THE COMMISSIONER OF CUSTOMS (CENTRALE) Nehru Custom House MUMBAI CUSTOMS, ZONE II EGM CO-ORDINATION UNIT, GROUND FLOOR JAWAHARLAL NEHRU CUSTOM HOUSE POST : SHEVA, Tal : URAN, DIST : RAIGAD, MAHARASHTRA-400707 F.NO: S/6-Gen-55/2021-22 ECU JNCH Date: 14.06.2022 STANDING ORDER NO. 05/2022 Subject: - regarding. Attention of all officers under the jurisdiction of Mumbai Customs Zone-II is invited to the Standard Operating Procedure on the above subject. EGM Er... ... ...

SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER For the Assessee : Shri T. Suryanarayana, Advocate For the Revenue : Dr. Manjunath Karkihally, CITDR ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeals are filed by assessee as well as revenue for assessment year 2012-13 and 2013-14 arising out of following orders passed by the Ld. CIT(A): Assessment year Appeal filed by Date of impugned order 2012-13 Assessee 19/09/2014 2012-... ... ...

Goa GST rate-schedule and service-classification amendments take effect on 1 October 2021. Intellectual Property rights transfers or permissions to use are taxable at 9%. Job work relating to manufacture of alcoholic liquor for human consumption is inserted at 9%, and specified manufacturing, publishing, printing, reproduction and material recovery services are taxable at 9%. Admission to specified amusement venues is taxable at 9%, while casinos, race clubs and specified sporting events are taxable at 14%. Entries for domestic multimodal transport of goods are added to the service-classification scheme.

EGM errors appearing in the EDI system after filing Shipping Bills and delivering Departure Manifests require rectification. The person in charge of a conveyance carrying export goods must deliver a Departure Manifest before departure from the Customs station. Incorrect Departure Manifests may delay export incentives. Concerned exporters, Customs Brokers and Shipping Lines are requested to rectify identified Shipping Bill errors or file Departure Manifests, as applicable, to avail post-export benefits or incentives.

The amendments substitute electronic communication for affixing a digital signature in rule 176, make technical deletions and corrections in rules 160 and 225, and replace the relevant dates in rules 246 and 256. Revised Form No. 169 requires asset-class-specific valuer registration applications, eligibility and disqualification disclosures, valuation experience, and an impartiality declaration. Form No. 171 requires authorised income-tax practitioner applicants to furnish qualifications, prior registration, disqualification, practice, and verification details.

Tax treatment of a debit note issued by an overseas parent company for exhibition costs incurred in India raises the applicability of Goods and Services Tax under the reverse-charge mechanism and of tax deduction at source. The issue centres on characterising the payment, determining whether reverse charge applies to the exhibition-cost debit note, and identifying potential withholding-tax obligations arising from payment to the overseas parent company in this context.

Upon entry into force, the India-New Zealand Free Trade Agreement grants duty-free access in New Zealand for 100 per cent of Indian exports, including textiles and apparel, leather and footwear, engineering goods, pharmaceuticals, agriculture, and processed food products. It also provides enhanced preferential access to the Indian market for specified New Zealand exports. The Agreement further covers services, investment, professional, student and youth mobility, and cooperation in agricultural productivity, pharmaceuticals and medical devices, traditional medicine and AYUSH, technology, and trade facilitation.

Competition approval has been granted for a proposed combination involving OMERS Infrastructure Asia Holdings Pte. Ltd.'s acquisition of certain additional shareholding in Azure Power Global Limited from CDPQ Infrastructures Asia Pte. Ltd. Azure Power Global Limited is the parent entity of the Azure group, which establishes and operates renewable energy plants and sells solar power in India.

Competition-law approval covers an interconnected combination involving acquisition of 50% of Great White Global Private Limited's issued and paid-up equity share capital by EAAA Acquiring Entities and the Continuing Promoter group, through inter-connected steps using an acquisition special purpose vehicle that will merge into Great White. The combination also includes Mr. Mehul Shah's acquisition of sole control over ITVIS Innovations Private Limited.

Competition Commission of India granted competition approval for the proposed combination involving Westview Cricket Limited and Poonawalla Sports and Fitness Private Limited acquiring the Rajasthan Royals, Paarl Royals and Barbados Royals professional cricket franchises. The franchises operate respectively in India, South Africa and Barbados, with Rajasthan Royals participating in the Indian Premier League T20 cricket tournament organised by the Board of Control for Cricket in India.

Coercive recovery of GST dues during search, inspection, or investigation is incompatible with proceedings remaining fact-finding exercises. Allegations of wrongful Input Tax Credit availment by a supplier whose registration was subsequently cancelled do not justify pressuring another taxpayer to discharge liabilities during an ongoing investigation. Recovery must follow the prescribed legal process, with Instruction No. 01/2022-23 serving as a safeguard against coercive enforcement and undue interference with normal business operations.

Section 67(7) of the CGST Act imposes a statutory limit on retention of goods seized under Section 67(2). Where no notice in respect of the seized goods is given within six months from seizure, the goods must be returned to the person from whose possession they were seized. Although the first proviso to Section 67(2) permits a prohibition order where physical seizure is impracticable, such restraint remains subject to the same temporal safeguard. Continuation of an investigation does not by itself sustain detention or restraint beyond the permitted period.

Where the grantor regulates public services, users and tariffs and retains a significant residual interest, a bus-stop concession falls within Appendix D to Ind AS 115. The operator does not recognise the underlying infrastructure as Property, Plant and Equipment despite construction or operational responsibilities. Consideration for construction, upgrade, operation and maintenance services is recognised under Ind AS 115 as a financial asset to the extent of an unconditional right to cash from the grantor, an intangible asset where the operator has a right to charge users, or both. Such arrangements are not automatically leases.

Section 54F applies to long-term capital gains from transfer of a long-term asset other than a residential house when an eligible individual or Hindu Undivided Family invests in one residential house in India within prescribed purchase or construction periods. Structural additions to an existing residential property may constitute construction rather than mere renovation where evidence establishes use of capital gains and the work is completed within the prescribed period. A prior claim relating to purchase of the same property does not by itself preclude a later claim based on subsequent capital gains used for qualifying further construction.

GST treatment of maintenance invoices turns on the person legally liable to pay for the maintenance supply, not merely the person occupying the premises or making payment. A tenant's direct payment of charges contractually payable by the owner does not alone make the tenant the recipient or support input tax credit. Direct invoicing to a registered tenant is more supportable where a genuine tripartite arrangement makes the tenant directly liable to the developer, aligns the allotment and lease arrangements, and is consistently implemented in invoices, records and accounting practices.

Contractual GST reimbursement claims arising after input tax credit reversal concern the inter se allocation of an indirect-tax burden between parties, rather than tax liability owed to revenue authorities. At the arbitrator-appointment stage, review is confined to the prima facie existence of an arbitration agreement covering the dispute. Such a claim is not manifestly non-arbitrable merely because it involves GST; jurisdiction and arbitrability objections may be determined by the arbitral tribunal. The claim may therefore proceed to arbitration through appointment of a sole arbitrator.