Annual SCOMET Updates – 2020 has been notified to amend Appendix 3 (SCOMET Items) to Schedule – 2 of ITC (HS) Classification of Export and Import Items, 2018.
The Taxation Laws (Amendment) Ordinance, 2019 (or ’the Ordinance’) was passed by Lok Sabha on December 2, 2019. The Ordinance provides significant tax cuts to Domestic companies. This article specifically enlightens the treatment of the same in Books of Account of the assessee taking benefit of the ordinance.
The issue under consideration is regarding the show cause notice issued by GST department to Colgate Palmolive India Ltd for detention of goods.
Introduction Finance Act 2020, as passed in Lok Sabha, brought up some significant changes to the provisions of determining the residential status of an individual in India. Finance Minister Shree Nirmala Seetharaman tried to narrow down the means by which an individual avoids taxes in India by becoming a non-resident in India. These changes have […]
The Objective of these guidelines is to standardize the general terms and clauses incorporated in indemnity based Health Insurance [excluding Personal Accident (hereinafter called as PA) and Domestic / Overseas Travel] products by simplifying the wordings of general terms and clauses of the policy contracts and ensure uniformity across the industry.
Where as part of product design insurers propose proportionate deduction of the ‘associated medical expenses’ when a policyholder chooses a higher room category than the category that is eligible as per terms and conditions of the policy, insurers shall define ‘associate medical expenses’ in the terms and conditions of policy contract.
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA Ref. No: IRDAI/HLT/REG/CIR/149/06/2020 Date:11-06-2020 To All General and Health Insurers (except ECGC, AIC) Re: Guidelines on Telemedicine: 1. Medical Council of India has issued ‘Tele Medicine practice guidelines’ on 25th of March 2020, enabling registered Medical Practitioners to provide Healthcare using Tele Medicine. 2. In the above background, […]
Various references have been received from trade and industry seeking clarification whether the GST is leviable on Director’s remuneration paid by companies to their directors. Accordingly the same has been clarified via Circular No: 140/10/2020 – GST dated 10/06/2020 Before going directly to the clarification its better to read the following for better understanding. Schedule […]
RBI has released a discussion paper today i.e. 12th June 2020, on ‘Governance in Commercial Banks in India’ for public comments To align the current regulatory framework with global best practices while being mindful of the context of domestic financial system. Major Key Highlights – From Company Secretary (CS) Prospective: 1. Appointment of Company Secretary […]
The issue under consideration is whether the sale of shares by a Cyprus company to the assessee of an Indian company, who was holding a technology Park [immovable property] as only asset, is taxable in India in view of the Double Taxation Avoidance Agreement between India and Cyprus?
