22 April 2024

Search Results for Tag : Clarification

Notifications & Circulars

Clarification regarding rate of tax applicable on construction services provided to a Government Entity, in relation to construction such as of a Ropeway on turnkey basis(17.06.2021)

1. Reference has been received by the Board for a clarification whether services supplied to a Government Entity by way of construction such as of "a .....

Tags : Clarification, Applicability, GST

Clarification regarding applicability of Notification No. 45/2017-Customs dated 30.06.2017 on goods which were exported earlier for exhibition purpose/consignment basis(24.07.2019)

1. Representations have been received for clarifying the issue of applicability of Notification no. 45/2017-Customs on the re-import of goods which ha.....

Tags : Clarification, Applicability, Notification

Clarification regarding applicability of GST on the activity of construction of road where considerations are received in deferred payment (annuity)(17.06.2021)

1. Certain representations have been received requesting for a clarification regarding applicability of GST on annuities paid for construction of road.....

Tags : Clarification, Applicability, GST

Clarifications in respect of the provisions of IRDAI (Health Insurance) Regulations 2016 and Guidelines on Product Filing in Health Insurance(10.01.2017)

Reference is invited to the provisions of Guidelines on Product Filing in Health Insurance notified vide ref: IRDA/HLT/REG/CIR/150/07/2016 dated 29th .....

Tags : Clarifications, provisions, IRDAI

Clarification regarding posting of Central Excise officer in Cigarette units-reg(01.05.2017)

1. Representations have been received from the field formations and members of the trade and industry regarding practicality of round-the-clock postin.....

Tags : Officer, Posting, Clarification

Clarification in respect of option under Section 115BAC of the Income-tax Act, 1961(13.04.2020)

1. Section 115BAC of the Income-tax Act, 1961 (the Act), inserted by the Finance Act, 2020 wef the assessment year 2021-22, inter alia, provides that .....

Tags : Clarification, Filing return, Tax deduction

Clarification regarding bank guarantee requirement for bond executed by EOUs(14.08.2018)

1. Various representations have been received regarding difficulties faced by EOUs with respect to requirements of bank guarantees in view of Circular.....

Tags : Clarification, Bank guarantee, Bond, Execution

MHA clarifies Misplaced Apprehensions of Industry Associations regarding Legal liability on Company CEOs, if employees found COVID-19 positive(23.04.2020)

No Separate/Fresh Permissions required from Authorities for Industries already permitted to operate prior to 15.04.2020, in areas falling outside Cont.....

Tags : Clarification, Apprehensions, Legal liability, Company CEOs

Clarification pursuant to Circular dated September 11, 2020-Regarding Asset Allocation of Multi Cap Schemes of Mutual Funds(13.09.2020)

SEBI's 2017 circular on scheme categorization sought to achieve two objectives:

- True to Label schemes: The portfolio should reflect the na.....

Tags : Clarification, Asset Allocation, Multi Cap Schemes

Clarification on Regulation 6(d)(ii), 6(e)(ii) and 5(f) of the IRDAI 's (Payment of commission, remuneration or reward to insurance agent or insurance intermediaries) Regulations, 2016(30.03.2017)

Attention is drawn to Reg 6(d)(ii) and 6(e)(ii) of IRDAI 's (Payment of commission, remuneration or reward to insurance agent or insurance intermediar.....

Tags : Regulation, Clarifications, Commission, remuneration

Clarifications in respect of the Direct Tax Vivad se Vishwas Act, 2020(28.10.2020)

1. With the objective to reduce pending income tax litigation, generate timely revenue for the Government and benefit taxpayers by providing them peac.....

Tags : Clarifications, Direct Tax, Act, 2020

Government Clarification on Amendment to Payment of Wages Act(21.12.2016)

It is seen from the media reports that there is a general impression that is being created that the Government is bringing an amendment to the Payment.....

Tags : Wages Act, Amendment, Clarification

Government of India issues clarification regarding requirement for furnishing of Country-by Country Report under Section 286(4) of Income Tax Act, 1961(26.03.2018)

In keeping with India's commitment to implement the Recommendations of the 2015 Final Report on Action 13, titled "Transfer Pricing Documentation and .....

Tags : Clarification, Furnishing of, Report

CBDT issues clarification on eligibility of small Start-ups to avail tax holiday(22.08.2019)

The Central Board of Direct Taxes (CBDT) has clarified that, small start-ups with turnover upto Rs. 25 crore will continue to get the promised tax hol.....

Tags : Tax Holiday, Eligibility, Small Start-ups, Clarification

Clarifications in respect of investment by certain Category II FPIs(13.03.2018)

I. This is in reference to SEBI circular No. CIR/IMD/FPIC/ 26 /2018 dated February 15, 2018 regarding "Easing of access norms for investment by FPIs"......

Tags : Clarifications, Investment, FPIs

Clarification on applicability of regulation 23 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in relation to Related Party Transactions(30.03.2022)

1. Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015 ('LODR Regulations') was amended vide notification da.....

Tags : Clarification, Applicability, Regulation

DGFT clarifies issues related to Non-Ferrous Metal Import Monitoring System (NFMIMS)(27.07.2022)

1. Subsequent to the issuance of DGFT Notification No. 61/2015-2020 dated 31.03.2021 amending the import policy of items of copper (Annexure-I to DGFT.....

Tags : Clarification, Issuance, NFMIMS

Clarification regarding Implementation of Paper Import Monitoring System (PIMS)(23.01.2023)

1. Import of products under Chapter 48 (total 201 tariff lines) of Schedule-I (Import Policy) of ITC (HS), 2022 are permitted subject to compulsory re.....

Tags : Clarification, Implementation, PIMS

Block Mechanism in demat account of clients undertaking sale transactions - Clarification(27.10.2022)

1. SEBI, vide circular no. CIR/HO/MIRSD/DOP/P/CIR/2022/595 dated July 16, 2021, introduced block mechanism in the demat account of clients undertaking.....

Tags : Block Mechanism, Demat account, Clarification

Clarification regarding deduction of TDS under section 192 read with sub-section (1A) of section 115BAC of the Income-tax Act, 1961(05.04.2023)

1. Vide Finance Act, 2023, sub-section (IA) has been inserted in section 115BAC of the Income-tax Act, 1961 (the Act) to provide for a new tax regime .....

Tags : Clarification, Reduction, TDS

Clarifications regarding applicability of GST on certain services(01.08.2023)

Representations have been received seeking clarifications on the following issues

1. Whether services supplied by director of a company in hi.....

Tags : Clarifications, Applicability, GST

Clarification regarding taxability of income earned by NRI investor from off-shore investments in investment fund routed through an Alternative Investment Fund(12.07.2023)

1. CBDT Circular No.14/2019 dated 03.07.2019 was issued to clarify the taxability of income earned by a non-resident investor from outside India (off-.....

Tags : Clarification, Taxability, Non-resident investor

Clarification regarding GST rate on imitation zari thread or yarn based on the recommendation of the GST Council in its 52nd meeting held on 7th October, 2023(31.10.2023)

1. The GST Council in its 50th meeting had recommended reduction of GST rate to 5% on imitation zari thread or yarn known by any name in trade parlanc.....

Tags : Clarification, GST rate, Zari thread

Clarification on dispatch of notice under Section 62(2) of Companies Act, 2013 by listed companies for rights issues opening upto 31st December, 2020(03.08.2020)

Reference is drawn to this Ministry's General Circular Number 21/2020 dated 11th May, 2020 regarding clarification on dispatch of notice under section.....

Tags : Clarification, Dispatch of notice

New Definition of Micro, Small and Medium Enterprises - Clarification(19.05.2022)

1. Please refer to our circulars FIDD.MSME & NFS.BC.No.3/06.02.31/2020-21 dated July 2, 2020, FIDD.MSME & NFS.BC.No.4/06.02.31/2020-21 dated August 21.....

Tags : New Definition, MSME, Clarification

News

Tax Research Unit (TRU) Issues Clarification on Applicability of GST(05.08.2022)

TRU has clarified that GST will apply to late fees charged by service provider; amount forfeited for cancellation of hotel bookings; car hired for emp.....

Tags : TRU, GST Applicability, Clarification

Top Story

CBDT issues clarification in respect of residential status of certain individuals under Income-Tax Act, 1961(04.03.2021)

The Central Board of Direct taxes (CBDT) issues clarification in respect of Residency under the Income tax Act, 1962 (IT Act). The Board has received .....

Tags : Clarification, Issuance, Residential status

RBI Clarification on Banks under Prompt Corrective Action(05.06.2017)

The Reserve Bank of India has come across some misinformed communication circulating in some section of media including social media, about the Prompt.....

Tags : Corrective action, Framework, Clarification

Clarification on spending of CSR funds for setting up makeshift hospitals and temporary COVID Care facilities(22.04.2021)

In continuation to this Ministry's General Circular No. 10/2020 dated 23.03.2020 wherein it was clarified that spending of CSR funds for COVID-19 is a.....

Tags : Clarification, Spending, CSR funds

Clarification regarding the limitation time for filing of appeals before the CIT (Appeals) under the Income-Tax Act, 1961(25.05.2021)

1. The Central Board of Direct Taxes has issued Circular No. 8 of 2021 on 30th April 2021 providing various relaxations till 31st May 2021 including e.....

Tags : Clarification, Limitation time

Further clarification on tax in reverse charge on gold ornaments(13.07.2017)

In the GST Ki Master Class held yesterday, in one of the replies given to an on-the-spot-question, it was informed that purchase of old gold jewellery.....

Tags : Reverse charge, Gold ornaments, Tax, Clarification

IRDA clarifies provisions for refund of premium on repudiation of policy(28.10.2015)

The Insurance Regulatory Development Authority of India has released clarifications pursuant to amendment of Section 45 of the Insurance Act, 1938. Th.....

Tags : Insurance, clarifications, section 45, refund, misrepresentation

Clarification to deal with difference in Input Tax Credit (ITC) availed in FORM GSTR-3B as compared to that detailed in FORM GSTR-2A for the period 01.04.2019 to 31.12.2021(17.07.2023)

1. Attention is invited to Circular No. 183/15/2022-GST dated 27th December, 2022, vide which clarification was issued for dealing with the difference.....

Tags : Clarification, ITC, Instructions

Clarification in respect of residency under Income-Tax Act, 1961(03.03.2021)

The Central Board of Direct taxes (CBDT) has received various representations requesting for relaxation in determination of residential status for pre.....

Tags : Clarification, Residential status, Relaxation

Centre to SC: Surrogate Mother Need Not be Genetically Related to Child(08.02.2023)

Supreme Court has directed Centre to give immediate effect to 3 important clarifications that Centre has issued regarding the extant regime on surroga.....

Tags : Supreme Court, Surrogate Mother, Clarification

SC: Court’s Judgment in Joseph Shine Doesn’t Approve of Adultery(20.02.2023)

Supreme Court has clarified that its 2018 judgment in Joseph Shine striking down Section 497 IPC will not impact court martial proceedings initiated a.....

Tags : Supreme Court, Adultery, Clarification

Clarifications on Tax Compliance for Undisclosed Foreign Income and Assets(03.09.2015)

The Central Board of Direct Taxes released clarifications on various provisions of the Black Money (Undisclosed Foreign Income and Assets) and Imposit.....

Tags : Black money, clarifications, residency, foreign employment

Clarification on spending of CSR funds for awareness and public outreach on COVID-19 vaccination programme(13.01.2021)

1. In continuation to this Ministry's General Circular No. 10/2020 dated 23.03.2020 wherein it was clarified that spending of CSR funds for COVID-19 i.....

Tags : Clarification, Spending, CSR funds

SC: Appln. Filed on Pretext of Clarification While Evading Recourse of Review Must be Discouraged(07.08.2023)

Supreme Court has held that any alternation to a can be made only to correct a clerical or arithmetical mistake or an error arising out of accidental .....

Tags : Supreme Court, Alternation, Clarification, Judgment

Clarifications with respect to Circular no. SEBI/HO/IMD/IMD-I/DOF5/P/CIR/2021/553 dated April 28, 2021(20.09.2021)

1. SEBI, vide Circular no. SEBI/HO/IMD/IMD-I/DOF5/P/CIR/2021/553 dated April 28, 2021, has provided that a part of the compensation of Key Employees o.....

Tags : Capital Market, Clarifications

Clarification regarding availability of Transitional Credit for GST(17.08.2017)

As per the rules, the Goods and Services Tax (GST) for the month of July 2017 has to be paid by 20th August, 2017. Only after the payment of full GST,.....

Tags : Transitional Credit, GST, Clarification

Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 – Clarification(16.03.2017)

Please refer to our letter IDMD.No.1451/08.03.016/2016-17 dated December 16, 2016 and Notification No. S.O.4061(E) dated December 16, 2016 issued by t.....

Tags : Scheme, Clarification, Gharib kalyan

Clarification in respect of transfer of input tax credit in case of death of sole proprietor(28.03.2019)

Doubts have been raised whether sub-section (3) of section 18 of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as 'CGST Act') .....

Tags : Transfer, Input tax credit, Clarification

Clarification on Recently Notified Maternity Benefit (Amendment) Act, 2017(08.05.2017)

The Government has notified the Maternity Benefit (Amendment) Act, 2017 on 28th March, 2017 and the provisions of the Amendment Act have come into for.....

Tags : Maternity Benefit, Amendment, Clarification

Clarification with respect to submission of Pre-shipment Inspection Certificate(06.05.2020)

1. The Import policy of metallic scrap and waste requires importers to furnish Pre-shipment Inspection Certificate (PSIC) for customs clearance of met.....

Tags : Clarification, Submission, Certificate

Allahabad High Court Issues Clarifications on E-Filing Procedure(15.04.2020)

Allahabad High Court has modified the e-filing procedure for taking up urgent matters. The Advocates would have an additional option of filing with th.....

Tags : Allahabad High Court, Clarifications on E-Filing Procedure

Clarification regarding investment of Mutual Fund schemes in units of Corporate Debt Market Development Fund(06.09.2023)

1. This has reference to SEBI Circular SEBI/HO/IMD/PoD2/P/CIR/2023/129 dated July 27, 2023 on Investment by Mutual Fund Schemes and AMCs in units of C.....

Tags : Clarification, Investment, Mutual Fund schemes

Clarification on Extension of Annual General Meeting for the financial year ended as at 31.03.2020 - Companies Act, 2013(17.08.2020)

1.Several representations have been received in the Ministry for providing relaxations in the provisions of Companies Act, 2013 (the Act) or rules mad.....

Tags : Clarification, Extension, AGM

DGFT issues clarification on Chip Import Monitoring System (CHIMS)(27.06.2022)

1. Subsequent to the issuance of Notification No. 05/2015-2020 dated 10.05.2021 amending the import policy of items covered under ITC(HS) codes 854231.....

Tags : CHIMS, Clarification, Issuance

Clarification w.r.t. applicability of PIMS at the time of import at SEZ/FTWZ/EOU and further import into DTA(05.07.2022)

1. The DGFT, vide Notification No. 11/2015-20 dated 25.05.2022, has introduced Paper Import Monitoring System (PIMS), by amending import policy of 201.....

Tags : Clarification, Applicability, PIMS

Clarification on prosecutions filed or internal adjudication proceedings initiated against Independent Directors, non-promoters and non-KMP non-executive directors(02.03.2020)

1. Under several provisions of the Companies Act, 2013 [Act], proceedings are required to be initiated against an officer in default for violations co.....

Tags : Clarification, Internal adjudication, Proceedings

Clarification on passing of ordinary and special resolutions by companies under the Companies Act, 2013 read with rules made thereunder on account of Covid-19-Extension of time(15.06.2020)

This Ministry has issued General Circular No. 14/2020 on 8th April, 2020 and General Circular No. 17/2020 on 13th April, 2020 for providing clarificat.....

Tags : Clarification, Resolutions, Covid-19-Extension of time

DGFT Issues Clarification on Chip Import Monitoring System(28.06.2022)

Director-General of Foreign Trade (DGFT) vide Policy Circular No. 40/2015-2020 dated 27th June, 2022 has issued clarification regarding Chip Import Mo.....

Tags : DGFT, Policy Circular, Clarification

SC: Application to Modify/Clarify Judgment Post-Disposal Allowed Only in Exceptional Cases(20.03.2024)

SC has held that a post-disposal application for modification and clarification of the order of disposal shall lie only in rare cases, where an order .....

Tags : Supreme Court, Modification, Clarification

Madras HC to State: Approach SC for Clarification on 50% Reservation for In-Service Candidates(23.11.2022)

Madras High Court has asked State Government to seek a clarification from Supreme Court regarding applicability of the Tamil Nadu government notificat.....

Tags : Madras High Court, Clarification, Reservation

Clarification regarding extension of time limit to apply for revocation of cancellation of registration in view of Notification No. 34/2021-Central Tax dated 29th August, 2021(06.09.2021)

1. Vide Circular No. 148/04/2021-GST, dated 18th May, 2021, detailed guidelines for implementation of the provision of extension of time limit to appl.....

Tags : Clarification, Extension, Time limit

Modification and Clarification under sub-section (8A) of section 9A of the Income-tax Act, 1961(06.06.2022)

1. In exercise of the powers conferred by sub-section (8A) of section 9A of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the Act).....

Tags : Modification, Clarification, Provision

Clarification in respect of levy of GST on Director's remuneration(10.06.2020)

1. Various references have been received from trade and industry seeking clarification whether the GST is leviable on Director's remuneration paid by .....

Tags : Clarification, Levy, GST

Bombay HC Issues Clarification on its January 2023 Order Regarding Adoption Proceedings(19.06.2023)

Bombay High Court while issuing clarification to its January 2023 Order that granted interim stay on transfer of pending adoption matters from Court t.....

Tags : Bombay High Court, Adoption Proceedings, JJ Act, Clarification

Clarification on doubts related to supply of Information Technology enabled Services (ITeS services)(18.07.2019)

1. Various representations have been received seeking clarification on issues related to supply of Information Technology enabled Services (hereinafte.....

Tags : Doubts, Clarification, ITeS services

Clarifications regarding applicability of GST on certain services(31.10.2023)

1. Based on the recommendations of the GST Council in its 52nd meeting held on 7th October, 2023, at New Delhi, clarification, with reference to GST l.....

Tags : Clarifications, Applicability, GST

Clarification regarding provisions relating to charitable and religious trusts(24.05.2023)

1. Income of any fund or institution or trust or any university or other educational institution or any hospital or other medical institution referred.....

Tags : Clarification, Provisions, Religious trusts

Clarification on doubts related to scope of "Intermediary"(20.09.2021)

1. Representations have been received citing ambiguity caused in interpretation of the scope of "Intermediary services" in the GST Law. The matter has.....

Tags : Goods and Services Tax, Clarifications

Clarification on holding of Annual General Meeting (AGM) through Video Conference (VC) or Other Audio Visual Means (OAVM)(28.12.2022)

1. In continuation to this Ministry's General Circular No. 20/2020 dated 05.05.2020 and General Circular No. 02/2022 dated 05.05.2022 and after due ex.....

Tags : Clarification, AGM, VC

Clarification for submission of NOC from the lending scheduled commercial banks/ financial institutions/ debenture trustee(03.01.2022)

1. SEBI vide Circular No. SEBI/HO/CFD/DIL1/CIR/P/2020/249 dated November 16, 2021 and Circular No. SEBI/HO/CFD/DIL2/CIR/P/2021/659 dated November 18, .....

Tags : Clarification, NOC, Debenture trustee

Clarification regarding export policy of onions- Removal of Minimum Export Price (MEP) and Letter of Credit (LC)(26.02.2018)

DGFT has received representations from exporters of onions stating that Customs is not allowing export of onions without LC(Letter of Credit) despite .....

Tags : Clarification, Export policy, Onions

Clarification regarding prudential norms on income recognition, asset classification and provisioning pertaining to advances(15.02.2022)

1. Please refer to the clarifications issued in respect of Prudential norms on Income Recognition, Asset Classification and Provisioning vide circular.....

Tags : Prudential norms, Income recognition, Clarifications

Clarification regarding media reports claiming special drive to reopen cases with reference to HRA claims(08.04.2024)

There is no special drive to re-open cases of mismatch, and media reports alleging that large-scale re-opening is being undertaken by the CBDT are com.....

Tags : Clarification, Reopening of cases, HRA claims

RBI clarifications for start-ups(11.02.2016)

The Reserve Bank of India has issued clarifications relating to acceptance of payments and issue of shares by start-ups. The Bank reiterates, variousl.....

Tags : start-up, payments, shares, clarifications

Clarification Regarding a Fake Advertisement in the name of Ministry of Petroleum and Natural gas in Newspapers in Maharashtra(27.02.2018)

It has come to the notice of Ministry of Petroleum and Natural gas, Government of India that some unscrupulous persons by using name and logo of Minis.....

Tags : Clarification, Fake Advertisement, Newspapers

Clarification regarding subsequent re-import of unsold jewellery, exported under Para 4.79& 4.92 of Handbook of procedure 2023(16.10.2023)

1. Import policy of items under ITC (HS) Code 71131911, 71131919 and 71141910 has been amended from 'free' to 'restricted' category vide Notification .....

Tags : Clarification, Re-import, Unsold jewellery

Clarification regarding submission of particulars and declaration by the insolvency professionals in the application filed by creditor(s) in Part IV of Form C of the IRP PGCD Rules(21.12.2023)

Section 95 of the Insolvency and Bankruptcy Code (Code) read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for I.....

Tags : Clarification, IRP PGCD Rules

Clarification regarding actual service providers rendering eligible services to be entitled for the SFIS/SEIS benefits or the aggregator of services (Ports)(22.05.2018)

1. This Directorate has received references from exporters providing port related services seeking clarification whether the actual service providers .....

Tags : Clarification, Actual service providers, Eligible services, Benefits

Clarification relating to export of services-condition (v) of section 2(6) of the IGST Act 2017(20.09.2021)

1. Various representations have been received citing ambiguity caused in interpretation of the Explanation 1 under section 8 of the IGST Act 2017 in r.....

Tags : Goods and Services Tax, Clarifications

Clarifications on levy imposed on jewellery(04.03.2016)

The government issued clarifications on the excise duty of one per cent (without input tax credit) and 12.5 per cent (with input tax credit) levied on.....

Tags : Central excise, jewellery, clarification

Clarification on spending of CSR funds for 'creating health infrastructure for COVID care', 'establishment of medical oxygen generation and storage plants'(05.05.2021)

In continuation to this Ministry's General Circular No. 10/2020 dated 23.03.2020, wherein it was clarified that spending of CSR funds for COVID-19 is .....

Tags : Clarification, CSR funds, health infrastructure

Clarification regarding applicability of Social Welfare Surcharge on goods exempted from basic and other customs duties/cesses(01.02.2022)

1. References have been received seeking clarification on the issue of applicability of Social Welfare Surcharge (SWS) on goods that are exempted from.....

Tags : Clarification, Applicability, Social Welfare Surcharge

Clarification on doubts arising on account of new TCS provisions(30.09.2020)

There are reports in certain sections of media wherein certain doubts have been raised regarding the applicability of the provisions relating to Tax C.....

Tags : Clarification, Doubts, TCS provisions

Clarifications on Income Declaration Scheme, 2016(27.06.2016)

The Central Board of Direct Taxes issued further clarifications to the recently announced Income Tax Declaration Scheme, 2016.

Elaborations.....

Tags : income tax, black money, declaration, clarifications

Clarification in respect of appeal in regard to non-constitution of Appellate Tribunal(18.03.2020)

1. Various representations have been received wherein the issue has been decided against the registered person by the adjudicating authority or refund.....

Tags : Clarification, Non-constitution, Appellate Tribunal

Clarification on dispatch of notice under section 62(2) of Companies Act, 2013 by listed companies for rights issue opening upto 31st July, 2020(11.05.2020)

1. Several representations have been received in the Ministry for providing clarification on the mode of issue of notice referred to in section 62(1)(.....

Tags : Clarification, Dispatch of notice

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