"09 October 2020" Archive

Sovereign Gold Bond Scheme (SGB) 2020-21- Series VII, VIII, IX, X, XI, XII

RBI/2020-2021/52 IDMD.CDD.No.730/14.04.050/2020-21 / Press Release: 2020-2021/462, Notification No. G.S.R. 627(E) (09/10/2020)

Reserve Bank of India RBI/2020-2021/52 IDMD.CDD.No.730/14.04.050/2020-21 October 9, 2020 The Chairman& Managing Director All Scheduled Commercial Banks, (Excluding RRBs) Designated Post Offices Stock Holding Corporation of India Ltd.(SHCIL) National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereig...

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CBIC clarifies CGST ITC Rule 36(4) for Feb, 2020 to Aug, 2020

Circular No. 142/12/2020- GST (09/10/2020)

Condition made under sub-rule (4) of rule 36 of the CGST Rules shall apply cumulatively for the tax period February, March, April, May, June, July and August, 2020 and that the return in FORM GSTR-3B for the tax period September, 2020 shall be furnished with the cumulative adjustment of input tax credit for the said months....

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DGGI arrest a person for passing fake GST ITC of Rs 190 crore

Release ID: 1663176 (09/10/2020)

DGGI Gurugram Zonal Unit arrest one person on charges of creating and operating fictitious firms on forged documents and passing fake input tax credit of Rs 190 crore...

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Not to report values pertaining to FY 2017-18 in GSTR-9 for 2018-19

Release ID: 1663175 (09/10/2020)

Certain representations have been received stating that the auto populated GSTR 9 for the year 2018-19 (Tables 4, 5, 6 and 7) also includes the data for FY 2017-18. However, this information for FY 2017-18 has already been furnished by the taxpayers in the annual return (GSTR9) filed for FY 2017-18 and there is no mechanism to show the sp...

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All about Form GST REG-03

The proper officer will examine the GST registration application filed by the applicant in Form GST REG-01. While examining, if the proper officer requires an additional information/ document/ clarification, then the notice in Form GST REG-03 will be served to the applicant. In Form GST REG-03, the proper officer is required to mention th...

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Posted Under: Fema / RBI |

E-Invoice under GST Law, 2017

E-Invoice means a taxable person supply goods or / services to the recipient and want to raise an invoice for that supply of goods or / services, they can raise the digital invoice for goods and services provided . The taxable person can generate at the Government Common Portal of GSTN. E- Invoice is a standard format of the invoice recom...

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Posted Under: Fema / RBI |

The validity of Usage of Electronic Signatures in India

Signatures are used to authenticate a Document and by authenticate, I mean is to prove or serve to prove to be real or true or genuine. A document without the signatures of the creator or bearer of such document has no validity in the eyes of law as it cannot help determine the rights, liabilities, obligations, and duties that have been c...

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Posted Under: Fema / RBI |

SEBI’s consultation paper on LODR Regulations – Its impact on listed entities

Corporate Governance is one of the important pillars for managing a corporate entity. It ensures transparency and ethical behavior in dealing with laws, procedures and practices while making informed managerial decisions for the benefit of all the stakeholders....

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Posted Under: Fema / RBI |

Classification of Debt & Non-Debt Instruments under FEMA

The Ministry of Finance, Government of India has now classified instruments issued under Foreign Exchange Management Act, 1999 (FEMA) as debt and non-debt instruments and has notified the rules/ regulations in this regard. The Finance Act of 2015 had proposed certain amendments to the Foreign Exchange Management Act, 1999. The Central Gov...

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Posted Under: Fema / RBI |

Capital gains under Income Tax Act 1961

Any Income derived from a Capital asset movable or immovable is taxable under the head Capital Gains under Income Tax Act 1961. The Capital Gains have been divided in two parts under Income Tax Act 1961. One is short term capital gain and other is long term capital gain....

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Posted Under: Fema / RBI | ,

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