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Archive: October, 2020

Posts in October, 2020

SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) (Second Amendment) Regulations, 2020

October 19, 2020 1788 Views 0 comment Print

1. These regulations may be called the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) (Second Amendment) Regulations, 2020.

CBIC extends ADD on All Fully Drawn or Fully Oriented Yarn/Spin Draw Yarn/Flat Yarn of Polyester

October 19, 2020 531 Views 0 comment Print

Seeks to amend notification No. 51/2015-Customs (ADD) dated 21st October, 2015 to extend the levy of ADD on All Fully Drawn or Fully Oriented Yarn/Spin Draw Yarn/Flat Yarn of Polyester imported from China and Thailand till 30th November, 2020. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 19th October, 2020 Notification No. 32/2020-Customs […]

Payment for international freight logistic support services & Global Account Management expenses cannot be treated as technical services fee

October 19, 2020 4534 Views 0 comment Print

Amount paid for international freight logistic support services and Global Account Management (GAM) expenses by assessee-foreign company to Indian company could not be treated as Technical Services or Fee for Included Services (FIS) and also could not be taxed under section 9(1)(i) as no income had accrued or arised from the business connection abroad in India

Utilization of Fund Created out of Regulatory Fee Forgone by SEBI – Additional Guidelines

October 19, 2020 501 Views 0 comment Print

In order to encourage the participation of Farmers / Farmers Producers Organizations (FPOs) in agricultural commodity derivatives markets, the Stock Exchanges have created a separate fund, out of the regulatory fee so forgone by SEBI. The Stock Exchanges have been permitted by SEBI to utilize the said fund exclusively for the benefit of and easy participation by Farmers / FPOs in the agricultural commodity derivatives market

Weekly newsletter from Chairman, CBIC dated 19/10/2020

October 19, 2020 819 Views 0 comment Print

We have embarked on ‘Faceless Assessment’, a reformative initiative, at a critical time when the economy is opening up again. This step would benefit both the trade and the department.

SEBI steps up efforts for ‘Data Culture’ through ‘Data Democratization’

October 19, 2020 558 Views 0 comment Print

Thus, MDAC is part of SEBI’s initiatives to make shareable data on the Indian securities market, available for researchers, policy makers, general public alike and to enhance the quality of such data. Some of the other initiatives taken by SEBI, through its Department of Economic and Policy Analysis (DEPA), include:

Mr. Santosh Kumar Shukla takes charge as Executive Director, IBBI

October 19, 2020 834 Views 0 comment Print

Mr. Santosh Kumar Shukla took charge as Executive Director, Insolvency and Bankruptcy Board of India (IBBI) in New Delhi today. Immediately before joining IBBI, he was serving as Chief General Manager in the Enforcement Department of the Securities and Exchange Board of India (SEBI).

Govt implements AI & ML tools to get insights into MSME related issues

October 19, 2020 789 Views 0 comment Print

MSME Ministry introduces Artificial Intelligence (AI) and Machine Learning (ML) strengthening its Single Window System Portal ‘Champions’ to assist MSMEs of the country. Ministry implements AI & ML tools to get insights into MSME related issues and grievances for their quick and effective resolution;

GSTR-9C Offline Utility- FAQs

October 19, 2020 3618 Views 0 comment Print

Form GSTR-9C is a reconciliation statement, duly verified and digitally signed by Chartered Accountant/ Cost Accountant. This form is required to be furnished along with filing of annual return in Form GSTR-9, by the taxpayer whose aggregate turnover is above a specified limit, during a financial year.

Procedure for referring Technical/Legal Service Tax & Central Excise issues for comments

October 19, 2020 681 Views 0 comment Print

It has been observed that routine matters, involving interpretation of statutory or policy provisions in specific circumstances or even issues of Fact, involving no question of policy, are being referred by the Field Formations For clarifications to the Board.

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