"24 June 2020" Archive

CBIC reduces interest rate for tax periods from Feb to July 2020

Notification No. 05/2020 –Integrated Tax/G.S.R. 410(E). (24/06/2020)

CBIC lowered interest rate for tax periods from February, 2020 to July, 2020 for delayed filing of GSTR 3B vide Notification No. 05/2020 –Integrated Tax Dated 24th June, 2020. Ministry of Finance (Department Of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 05/2020–Integrated Tax New Delhi, the 24th June, 2020...

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Amendment to section 25 of IGST Act, 2017 notified wef 30.06.2020

Notification No. 04/2020 –Integrated Tax/G.S.R. 409(E). (24/06/2020)

CBIC notifies 30th day of June, 2020 as date of applicability of section 134 of Finance Act, 2020 vide which In section 25 of the Integrated Goods and Services Tax Act, 2017, in sub-section (1), in the proviso, for the words ‘three years’, the words ‘five years’ was substituted. Notification No. 04/2020 –Integrat...

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GST interest rate for tax periods from February 2020 to July 2020

Notification No. 02/2020–Union Territory Tax/G.S.R. 408(E) (24/06/2020)

CBIC lowered interest rate for tax periods from February, 2020 to July, 2020 for delayed filing of GSTR 3B vide Notification No. 02/2020 –Union Territory Tax Dated 24th June, 2020. Ministry of Finance (Department Of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 02/2020–Union Territory Tax New Delhi, the 24th ...

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CCI approves acquisition of 9.99% stake in Reliance Jio by Jaadhu Holdings LLC

(Release ID: 1634070) (24/06/2020)

The Competition Commission of India (CCI) approves acquisition of 9.99% stake in Jio Platforms by Jaadhu Holdings LLC. The proposed combination envisages acquisition of approximately 9.99% stake inJio Platforms Limited (Jio Platforms) by Jaadhu Holdings LLC (Jaadhu)....

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CBIC clarifies on manner of calculation of interest & Late Fees

Circular No.141/11/2020-GST (24/06/2020)

CBIC clarified on Manner of calculation of interest for taxpayers having aggregate turnover above Rs. 5 Cr., Manner of calculation of interest for taxpayers having aggregate turnover below Rs. 5 Cr. and Manner of calculation of late fee vide Circular No. 141/11/2020-GST Dated 24th June, 2020. Circular No. 141/11/2020-GST CBEC-20/06/04-202...

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GST Payment by Builders- Form DRC-03 for Shortfall from 80%

Instruction No. 3/2/2020- GST (24/06/2020)

Payment of GST by real estate promoter/developer supplying construction of residential apartment etc, on the shortfall value of inward supplies from registered supplier at the end of the financial year...

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Interest Subvention on repayment of Shishu Loans under PM MUDRA Yojana

2% Interest Subvention approved on prompt repayment of Shishu Loans under Pradhan Mantri MUDRA Yojana for a period of 12 months. Regular repayment of loans to be incentivized. Scheme will help small businesses brace the disruption caused due to COVID-19....

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SEBI Guidelines for Order-to-trade ratio for Algorithmic Trading amended

Circular No. SEBI/HO/MRD1/DSAP/CIR/P/2020/107 (24/06/2020)

Stock exchanges may be permitted to introduce additional slabs upto OTR of 2000 (from existing OTR of 500), and for OTR more than 2000. Such slabs can be introduced with deterrent incremental penalty, which stock exchanges may decide jointly....

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Working Group for insurance of Remotely Piloted Aircraft System/Drone Technology

Notification No. IRDAI/NL/ORD/MISC/160/06/2020 (24/06/2020)

Insurance Regulatory and Development Authority of India IRDAI/NL/ORD/MISC/160/06/2020 Dated: 24th June 2020 Sub: Working Group for insurance of Remotely Piloted Aircraft System (RAPS)/ Drone Technology Drones are emerging as one of the fastest growing technologies and are being used for a variety of purposes. Their numbers are growing rap...

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Changing Role of CFOS & Accountants in Times of ‘Remote Working’

With the ongoing spread of coronavirus yet to flatten its curve, social distancing is the only option that seems to be the respite. As a result, many businesses globally are rapidly employing a business model comprising far more remote workers than they had ever expected....

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