"01 January 2021" Archive

Rule 86B –Restriction on use of amount available in Electronic Credit Ledger

1. GST registration can be cancelled or suspended under CGST Rules, 2017 21A at the discretion of the tax officer in certain cases; 2. Changes in Rule 36(4) of CGST Rules, 2017 from 1st January, 2021- recipients can claim provisional Input Tax Credit (ITC) in GSTR-3B to the extent of 5% instead of earlier 10% of the total ITC available in...

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1 जनवरी 2021 से जीएसटी कानून में कुछ बड़े बदलाव

महान ग्रीक दार्शनिक हेराक्लिटस  का एक कथन है – ‘परिवर्तन इस दुनिया में एकमात्र स्थायी चीज है’। परिवर्तन होना तय है । भले ही य...

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Reserve Bank of India introduces RBI-Digital Payments Index

Press Release: 2020-2021/874 (01/01/2021)

As announced in the Statement on Developmental and Regulatory Policies as part of the Sixth Bi-monthly Monetary Policy Statement for 2019-20 dated February 06, 2020, the Reserve Bank of India has constructed a composite Digital Payments Index (DPI) to capture the extent of digitisation of payments across the country....

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Govt announces dates of CBSE Board examinations- 2021

Union Education Minister announces the dates of CBSE Board examinations- 2021. Class 10th and 12th Board Examinations to be held from 4th May 2021 to 10th June, 2021 – Shri Ramesh Pokhriyal ‘Nishank’. Results of Class 10th and 12th Board Examinations to be declared by 15th July, 2021 - Shri Ramesh Pokhriyal ‘Nishank’ Practica...

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Income Tax Department conducts searches in Kolkata

The Income Tax Department carried out search and seizure action on two Kolkata based Groups engaged in manufacturing & trading of Steel, trading of marbles & stones, food grains etc....

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Mandatory implementation of FASTag wef new year day

Ministry of Road Transport & Highways has mandated fitment of FASTag with effect from 1st January, 2021, in M and N categories of motor vehicles sold before 1st December, 2017. Category ‘M’ stands for a motor vehicle with at least four wheels used for carrying passengers. Category ‘N’ stands for a motor vehicle with at least fou...

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Budget 2021 Expectations- letter to FM

The Budget for the next financial year 2021-22 would be presented in the Parliament on February 1, 2020. It is common knowledge that due to global Covid-19 pandemic, the entire year 2020 has turned out to be a ‘zero year’. The production, sales, earnings, salaries have all been drastically affected due to onslaught of this [&h...

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Import policy of odoriferous preparations such as room/car fresheners amended

Notification No.54/2015-2020-DGFT/S.O. 7(E) (01/01/2021)

Import of odoriferous preparations such as room fresheners/car fresheners that do not operate by burning under HS Code 33074900 is free. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Notification No. 54/2015-2020-DGFT New Delhi, Dated: 1st January, 2021 Subject: Inserti...

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Postal Department issues notice on updating Customs data of Articles containing goods

As per rule 47 of Post Office Guide Part 2 and other relevant rules, it is mandatory that all postal articles including ordinary articles containing goods meant for delivery to foreign destinations are affixed with correct and complete relevant custom declaration forms. These forms include details of sender and recipient along with descri...

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RBI: Report on trend & progress of banking in India 2019-2020

The Reserve Bank of India vide its publication dated 29th December 2020 placed in its website the Report on trend and progress of banking in India 2019-2020 in pursuance of provisions of the Banking Regulations Act, 1949 as per details given below: https://rbidocs.rbi.org.in/rdocs/Publications/PDFs/0RTP2020_F3D078985540A4179B62B7734C7B445...

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