"22 March 2019" Archive

RBI defers implementation of Ind AS for Banks till further notice

RBI/2018-2019/146DBR.BP.BC.No.29/21.07.001/2018-19 (22/03/2019)

The legislative amendments recommended by the Reserve Bank are under consideration of the Government of India. Accordingly, it has been decided to defer the implementation of Ind AS till further notice....

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New GST Structure for Real Estate W.E.F. 1st April, 2019

GST Council met for the 34th time since its constitution yesterday (19th March, 2019) for taking crucial decisions on real estate sector. Taking forward the discussions and decisions of 33rd GST Council meeting dated 24.02.2019 GSTC has now taken important decisions in relation to levy of GST on real estate sector including manner of tran...

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Extension of attempt for Practical Training Assessment for CA students

Institute of Chartered Accountants of India Extension of attempt for Practical Training Assessment for students who have completed their first/ second year of training during April-June, 2018 The students who have completed their 1st/ 2nd year of practical training during the second quarter of 2018, i.e. April-June, 2018 were eligible to ...

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Posted Under: Fema / RBI |

GST on Apparel Sector

Apparel sector of India is one of the oldest and largest contributors toward the development of the Indian economy, concerning GDP, employment, export promotion, etc. Known as one of the oldest manufacturing industry in the country and the second largest after agriculture, the textile industry employs both skilled and unskilled people. Th...

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Posted Under: Fema / RBI |

New GST Returns: Normal, Sahaj and Sugam

There has been a constant effort on the part of the government to encourage compliances by making the GST Portal more Assessee friendly. Though there has been issues since implementation in July 2017, the Government has fairly addressed most of the issues & now we are getting into the next stage of simplification of GST […]...

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Posted Under: Fema / RBI |

Beneficial Interest under Section 90 explained with examples

BEN Interest Section 90 read with Declaration of BEN Interest Notification Ministry of Corporate Affairs vide its Notification dated 8th February, 2019 released a notification regarding disclosure of Beneficial Interest in the Reporting Company by the individual ultimately holding 10% or more of the total shareholding in the Reporting Com...

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Posted Under: Fema / RBI |

Note on Officer in default under Companies Act, 2013

We have analysed the impact of new Companies Act, 2013 with respect to non-compliances and the penalties imposed for the same on the Directors and in this regard we found the following points: (a) The working directors (viz. Managing Director, Whole-time Director, CEO, CFO, Company Secretary) are responsible for all the activities of th...

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Posted Under: Fema / RBI |

Note on Banning of Unregulated Deposit Scheme

Objective: Banning of Unregulated Deposit Scheme Ordinance, 2019 is promulgated with the objective of providing mechanism to ban unregulated deposit schemes and protect the interest of depositors. Applicability: Banning of Unregulated Deposit Scheme Ordinance, 2019 applicable to Whole of India except the state of Jammu and Kashmir. What i...

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Posted Under: Fema / RBI |

New GST Rates on Real Estate Sector FAQs)

The GST council in the 34th GST council meeting held on 19th March, 2019 at New Delhi decided new GST rates and other related issues on real estate sector. Followings are the main provisions (other than transition related provisions) as have been published by way of press release by CBIC on its website. Q1: What is the […]...

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Posted Under: Fema / RBI |

SEBI (Custodian) (Amendment) Regulations, 2019

No. SEBI/LAD-NRO/GN/2019/04 (22/03/2019)

1. These Regulations may be called the Securities and Exchange Board of India (Custodian) (Amendment) Regulations, 2019.2. They shall come into force on the date of their publication in the Official Gazette....

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