SIGN IN SUBSCRIBE

News Update

Karnataka elections to be held on May 10; Results to be declared on May 13: CECNCLT rules Google to pay Rs 1337 Cr fine within 30 daysBJP MP Girish Bapat passes away; PM offers condolencesLawyers cannot become Members of the GST Appellate TribunalI-T - CBDT Circular No. 6 of 2016 on recharacterization of gains on transfer of listed shares/securities and subsequent clarification, is retrospective in operation: HCIf PAN not linked to Aadhaar, CBDT notifies rules to deny refund, interest on refund and higher TDS rateI-T - Principles of natural justice are contravened where assessment u/s 153 r/w Section 144 is done by AO without giving assessee an opportunity of personal hearing : HCIndia's overall exports cross USD 750 bn mark: GoyalI-T - No disallowance of interest can be made when interest-bearing funds exceed the investments made by assessee in securities yielding exempt income : ITATYadav launches e-passbook for EPFO members, inaugurates creche facilityI-T - Re-assessment invalid where commenced by AO without considering the supporting documents adduced by assessee to explain sources of income : ITATTDS from transfer of Virtual digital assets aggregates to Rs 158 Cr upto Mar 20: MoSI-T - Penalty u/s 271B need not be imposed where book results shown by assessee were substantially accepted by Revenue as genuine & delay in audit of accounts was duly explained: ITATCentral Bureau of Narcotics busts Drug syndicate in DelhiI-T - To impose or not to impose penalty is at the discretion of the authority to be exercised judicially & on considering all relevant circumstances ; AO can drop penalty for bona fide or technical breach of provisions: ITATG20 Meeting: Paperless trade is fixed as new targetST - Tax liability does not arise by way of being Commission Agent on whose behalf he collects the toll as per section 65(19) of Finance Act, 1994 for the period prior to introduction of negative list regime: CESTATCBIC notifies Mopa for loading & unloading of cargoCus - Merely because some parts were imported separately and cleared under a separate Bill of Entry, department cannot contend that goods cannot be classified under CTH 8437: CESTATCBIC issues Draft Circular to launch exchange rate automation moduleGoldman Sachs study says AI may impact 300 mn jobsFrance raids banks in tax fraud casesCanada offers tax credits to shore up critical minerals extractionApple launches ‘buy now, pay later’ service in AmericaRussians flood Dubai; Rental shoots upGreece nabs two Pakistanis for terror attack against jewsChinese officials paid USD 40 mn bribe to unfreeze FTX crypto assets2000 Swiss women move ECHR on how climate change impacting human rights
Untitled Document

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB- SECTION (ii)]

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
NEW DELHI

NOTIFICATION NO

01/2022-Compensation Cess, Dated: June 24, 2022

G.S.R. 468(E).- In exercise of the powers conferred by sub-section (2) of section 12 read with section 8 of the Goods and Services Tax (Compensation to States) Act, 2017 (15 of 2017), the Central Government on the recommendations of the Council hereby makes the following rules, namely:-

Short title and
commencement.-

1. (1) These rules may be called the Goods and Services Tax (Period of Levy and Collection of Cess) Rules, 2022.

(2) They shall come into force with effect from the 1st day of July, 2022.
Period for levy
and collection of
Cess.-		 2. The period for levy and collection of cess under sub-section (1) of section 8 of the Goods and Services Tax (Compensation to States) Act, 2017 shall be upto the
31st March, 2026.

[F. No. S-31011/11/2022-ST-II-DOR]

(Mahendra Nath)
Under Secy.

TIOL Tube Latest

TIOL Tube
TIOL Awards 2022 - Gold & Silver

VISION 360

Top News






Mr. Nikhil Gupta, Global Indirect Tax Lead, Wipro Enterprises Pvt Ltd sharing his thoughts at the TIOL Awards 2022 event.

TII LATEST

TIOLCORPLAWS LATEST




Mr. Vishweshwar Mudigonda, Partner, Deloitte Touche Tohmatsu India LLP sharing his thoughts at the TIOL Awards 2022 event.