10th Instalment of Rs.6,000 crore released to the States as back to back loan to meet the GST compensation shortfall. A total amount of Rs.60,000 crore released so far to all States and UTs with legislation. This is in addition to additional borrowing permission of Rs.1,06,830 crore granted to the States
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹2.50 crore (Rupees Two crore Fifty lakh only) on Bajaj Finance Limited, Pune (the company), by an order dated January 05, 2021, for violation of (i) directions issued by RBI on Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFCs and Fair Practices Code (FPC) for applicable NBFCs, contained in the Non-Banking Financial Company – Systemically Important Non-Deposit taking Company
GST tech (@Infosys_GSTN) has informed on its twitter handle that The due date for quarterly filing of GSTR-1 for Oct-Dec 2020 quarter period is 13.01.2021. The date currently being shown in the GSTR-1 tile is 31.01.2021 which is erroneous and the correct date i.e. 13.01.2021 will be displayed on the portal soon. Please bear with […]
IRDAI directs Insurers to classify Infrastructure investments, issued by Infrastructure Companies, rated not less than A along with an Expected Loss Rating of EL1 as part of Approved Investment and should be listed under Category Code IELB as per Category of Investment under Master Circular – Investments.
Request to Honorable President of India for Suo-Moto cognizance for Key Points which immediately relief to he given to small business man of the country regarding GST in this pandemic.
Applicability of Cash Flow Statement: – According to Section 2(40) of Companies Act, 2013, The Financial statements of a company include Cash Flow Statement. Cash Flow Statement is governed by The Companies (Accounting Standards) Rules, 2006 (AS 3) and The Companies (Indian Accounting Standards) Rules, 2015 (Ind AS 7), as applicable. The following companies are […]
Advertisements on TV channels which were propagating that there were special, miraculous and supernatural properties/qualities in Hanuman Chalisa Yantra were illegal and such propagation, advertisement falls under Section 3 of the Maharashtra Prevention and Eradication of Human Sacrifice and other Inhuman, Evil and Aghori Practices and Black Magic Act, 2013.
Chartered Accountants Association, Jalandhar has made a representation to FM regarding Misuse of Official Position by making roving enquiries & issuing illegal Show Cause Notices by Central Excise (Service Tax) Department. Central GST Department has been issuing Show Cause Notices (SCNs) for FY 14-15 for difference in Receipts as per Service Tax Return and Income […]
When the acceptor puts in a new condition while accepting the contract already signed by proposer, the contract was not complete until the proposer accepted that condition. Thus, earnest deposit of assessee was liable to be refunded on concluded contract and there could be no question of any breach on the part of assessee or of damages or any risk purchase at the cost of assessee.
M/s. Tinplate Company of India Limited Vs Commissioner of Central Excise & Service Tax (CESTAT Kolkata) Conclusion: Assessee adid not receive any amount from TSL as and by way of consignment agent or towards providing any consignment agency service under the consignment agency agreement and also, assessee had cleared the converted goods on payment of […]
