"27 November 2020" Archive

SOP for verification of taxpayers granted deemed GST registration- Reg.

Instruction No. 4/3/2020-GST (27/11/2020)

The CBIC notified the Standard Operating Procedure (SOP) for verification of taxpayers granted deemed registration. From August 21, 2020, Rule 9 of the CGST Rules, 2017 provide that in cases where Aadhaar authentication has either not been opted for by the applicant or where such authentication has failed, the proper officer has to mandat...

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Students who Opted Out Due to Covid 19 to immediately submit his report with Admit Card: ICAI

Examination Department The Institute of Chartered Accountants of India Dated: 27th November, 2020 IMPORTANT ANNOUNCEMENT : OPT OUT DUE TO COVID 19 In continuation to the Announcement dated 7th November, 2020 made regarding Opt Out Scheme wherein the students were allowed to opt out for the various reasons due to COVID 19 and such opt [&he...

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DGGI Gurugram arrests one for illegally manufacturing cigarettes & tax evasion

Release ID: 1676579 (27/11/2020)

The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana has arrested one Sh. Satyender Sharma resident of Haryana on charges of manufacturing and supplying illegally manufactured cigarettes without the requisite tax paying documents and without payment of applicable GST and cess....

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SEBI clarifies on NAV for the switch in transaction

Notification No. SEBI/H0/1MD/DF2/0W/P/2020/20589/1 (27/11/2020)

As the NAV for the switch out (redemption/repurchase) transaction in a liquid scheme for the request received before the cut-off timing on Friday or on a day preceding a non-business day would be the closing NAV of the day immediately preceding the next business day, therefore, the NAV applicable for the coinciding switch in (subscription...

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MCA notifies Special court in Maharashtra, WB & TN for SEBI Cases under Companies Act, 2013

Notification No. S.O. 4283(E). (27/11/2020)

Central Government hereby designates Special Courts in the States of Maharashtra, West Bengal (WB) and Tamil Nadu (TN) for the purposes of trial of offences under Companies Act, 2013, in respect of cases filed by the Securities and Exchange Board of India. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 27th November, 2020 S.O. ...

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Section 195A Income Payable “Net of Tax”

1) Who is responsible to deduct tax u/s 196B? Any person responsible for making payment to Offshore Fund. 2) Nature of Payment a) Income from units referred to in section 115AB b) Long-term capital gain arising from transfer of such units 3) When to Deduct TDS under Section 196B? At the time of credit of […]...

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Section 195 TDS on Non-Resident Payments

1) Who is responsible to deduct tax u/s 195? Any person responsible for paying to a non-resident, not being a company, or to a foreign company, shall deduct income-tax thereon at the rates in force. 2) Nature of Payment a) Any interest (not being interest referred to in section 194LB, 194LC and 194LD) b) Any […]...

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Section 194N TDS on cash withdrawal from banks/post offices

1. Who is responsible to deduct tax u/s 194N? Every person, being,— (i) a banking company to which the Banking Regulation Act, 1949 (10 of 1949) applies (including any bank or banking institution referred to in section 51 of that Act); (ii) a co-operative society engaged in carrying on the business of banking; or (iii) […]...

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78.98% students passed CS Executive Entrance Test (CSEET)

The result of Company Secretary Executive Entrance Test (CSEET) held on 21st and 22nd November, 2020 has been declared today, the 26th November, 2020 at 2:00 PM. In the above CSEET, 78.98% of candidates have been declared successful....

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Clarification on export of Gems and Jewellery through Courier mode-reg

Circular No. 52/2020-Customs (27/11/2020)

Representations have been received from the Gems and Jewellery Export Promotion Council seeking clarification on whether gems and jewellery is allowed to be exported through courier under the Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2010 as also the Courier Imports and Exports (Clearance) Regulation...

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