In re NMDC Limited (GST AAR Karnataka) The applicant filed the instant application, for rectification of ruling, alleging that the authority has not ruled in the order as to whether the contributions towards DMF & NMET amount to supply in terms of Section 7 of the CGST Act 2017 or not and also the authority […]
In re NMDC Limited (GST AAR Karnataka) It is clearly evident from the aforesaid AAR Order that the authority has considered all the submissions and issued the proper order. Hence there is no error / apparent mistake on the face of the record, in the said order and hence the instant application is not valid […]
The exposures thus shifted to a person resident outside India, will attract a minimum risk weight of 150%. It has been decided that non-centrally cleared derivatives exposures will be outside the purview of exposure limits till April 01, 2021.
One of my senior clients telephoned about his tax return of USA for 2019 but with emphasis on 1040 SR. I was not taken aback since for one well versed with US Taxation, change is spice of life. We as CPAs are forced to update our knowledge by CPE stipulations. I am very happy to […]
Lock down and suspension of public transport services has been announced by many Local authorities/State Governments to curtail the spread of COVID 19 across various geographies. Keeping this in view , after due deliberation, it is suggested that Member Banks may selectively keep their branches open at such locations after due consultation with the local state government/authorities to carry out the basic essential transactions as per appeal circulated today.
The penal provision for non- collection/short collection of margins by brokers which was to be implemented from April 01, 2020 has been deferred till April 30, 2020. However, reporting of non- collection/short collection of margins in the cash and derivatives segment shall be continued to be done by the brokers.
Stock brokers shall be mandatorily put in risk-reduction mode when 90% of the stock broker’s collateral available for adjustment against margins gets utilized on account of trades that fall under the margining system.
Due to the developments arising due to the spread of the COVID 19 virus, a need for temporary relaxations in compliance requirements for REITs and InvITs is warranted. Accordingly, it has been decided to extend the due date for regulatory filings and compliances for REIT and InvIT for the period ending March 31, 2020 by one month over and above the timelines, prescribed under SEBI (Infrastructure Investment Trusts) Regulations, 2014 (InvIT Regulations) and SEBI (Real estate Investment Trusts) Regulations, 2014 (REIT Regulations) and circulars issued thereunder.
Regulation 23 of the REIT Regulations, 2014 inter alia provides that the manager shall disclose to the designated stock exchanges, unit holders and the Board such information and in the manner as may be specified by the Board
Entities required to hold units in terms of Regulation 12 of the InvIT Regulations may create encumbrance on such units during the mandatory holding period wherein encumbrance shall include pledge, lien, negative lien, non-disposal undertaking etc. or any other covenant, transaction, condition or arrangement in the nature of encumbrance:
