In respect of all accounts classified as standard as on February 29, 2020, even if overdue, the moratorium period, wherever granted, shall be excluded by the lending institutions from the number of days past-due for the purpose of asset classification under the IRAC norms.
As announced in Governor’s Statement today, it has been decided to reduce the interest rate on fixed rate reverse repo under the Liquidity Adjustment Facility (LAF) by 25 basis points from 4.00 per cent to 3.75 per cent with immediate effect.
Additional quantity of 745 MTRV (Seven Hundred and Forty-Five Metric Ton Raw Value) of raw cane sugar, for export to USA, under TRQ, up to 30.09.2020, has been notified.
The Notification No. 50/2015-20 dated 03.03.2020 is further amended to the extent that the formulations made from Paracetamol (including FDCs) under any ITCHS Code, including the ITCHS Code mentioned above, are made “Free” for export, with immediate effect. However, Paracetamol APIs will remain restricted for export.
Concept of RCM is not new in Indirect Tax regime, it is similar to what was there in service tax, but in GST regime supply of goods is also covered under RCM. There is not any provision of partial RCM under GST, 100% need to be paid by receiver of service or Goods.
1. (1) These Regulations may be called the Insolvency and Bankruptcy Board of India (Liquidation Process) (Second Amendment) Regulations, 2020. (2) They shall come into force on the 17th April, 2020.
Clarification in respect of option under Section 115BAC of the Income Tax Act, 1961 Income Tax Circular No C1 of 2020 dated 13th April 2020 Finance Minister in her Budget Speech, 2020 had introduced new tax regime with effect from Assessment Year 2021-22, inter alia provides that an Individual or HUF having income other than […]
INTRODUCTION It is said that everything comes with a cost and the ongoing Corona Virus Pandemic is the cost that the nations are bearing for Globalization. The Corona Virus has travelled from China to Europe to United States of Amercia to our country. Corona Virus has not just rattled lives, but also economies across the […]
i) Notification 30/2020 : 1) The due date to file form CMP-02 {Rule 3(3)} and Form GST ITC-03 {Rule 44(4)} extended – The last date to file form CMP -02 for any registered person who wanted to opt for composition scheme (section 10 as well as notification 2/2019 ) for the financial year 2020-21 was […]
Comparative Analysis of Mandatory Committees under SEBI (LODR) Regulations, 2015 and Companies Act, 2013 Introduction to Committees Committees can be said as a group of persons who work together for a common objective and perform a specific work requiring expertise knowledge. With this Objective, Board Committees are formed to perform following functions- 1. To enhance […]
