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Archive: 08 January 2021

Posts in 08 January 2021

All about Aadhaar Authentication for Existing GST Taxpayers

January 8, 2021 86313 Views 6 comments Print

A. FAQs on Aadhaar Authentication for Existing Taxpayers (Regular and Composition) Overview Q.1 Is it mandatory for every authorized signatory, promoter or partner to get Aadhaar authenticated for a new GST Registration? Ans: No, it is not mandatory for every authorized signatory, promoter or partner to get Aadhaar authenticated for a new GST Registration. Aadhaar […]

Consider extension of Income Tax Due dates: Gujarat HC to UOI

January 8, 2021 25593 Views 0 comment Print

All Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court) High Court held that respondent No.1 – Union of India, Ministry of Finance should immediately look into the issue, more particularly, the representation dated 12th October 2020 at Annexure : I of the paper book (page 108) and take an appropriate decision […]

Norms for empanelment of Statutory Branch Auditors in PSB

January 8, 2021 6213 Views 0 comment Print

RBI releases on its website Norms for selection of branches of Public Sector Banks (PSBs) for Statutory Audit, Procedure for appointment of Statutory Branch Auditors, General guidelines applicable to appointment of Statutory Branch Auditors and Eligibility norms for the empanelment of audit firms to be appointed as Statutory Branch Auditors in PSBs. Norms on eligibility, […]

Tax Evasion Through Fake Invoices & Actions by Government

January 8, 2021 20601 Views 0 comment Print

You would have heard many GST fake invoice fraud news in recent time, in spite of many checks and balances introduced in GST laws such as GSTR-2A, Rule 36(4), e-invoicing, e-way bill etc. In a release, the CBIC said that it has so far registered about 12,000 cases of ITC fraud and arrested 365 people, […]

Seizure of undisclosed jewellery and its assessment- Legal Treatise

January 8, 2021 8187 Views 0 comment Print

Understand the legal aspects of seizure and assessment of undisclosed jewellery in income tax search cases.

Applicability of CARO, 2020 from Financial Year 2021-22

January 8, 2021 218985 Views 2 comments Print

MCA has changed the applicability date of CARO, 2020 to the financial years commencing on or after the 1st April, 2021. So, CARO 2020 will be applicable from Financial Year 2021-22.

GST: Delhi HC refuses ‘interim-relief’ in writ challenging Section 69 & 132

January 8, 2021 2535 Views 0 comment Print

Present writ petition has been filed seeking a declaration that Sections 69 and 132 of the CGST Act, 2017 are arbitrary, unreasonable and being beyond the legislative competence of the Parliament are ultra vires the Constitution. Held by High COurt  This Court  has refused to pass any interim order holding that it is not inclined […]

SEBI modifies format of Monthly Reporting of Portfolio Managers

January 8, 2021 2859 Views 0 comment Print

Securities and Exchange Board of India CIRCULAR SEBI/HO/IMD/DF1/CIR/P/2021/02 January 08, 2021 To, All Portfolio Managers Dear Sir/ Madam, Sub: Monthly Reporting of Portfolio Managers 1. Securities and Exchange Board of India (SEBI) had mandated certain changes to the regulatory framework for Portfolio Managers vide circular no. SEBI/HO/IMD/DF1/CIR/P/2020/26 dated February 13, 2020. In terms of para […]

Format of waiver to be provided by investors under SEBI (AIF) Regulations

January 8, 2021 1317 Views 0 comment Print

Waiver in respect of compliance with clause (i) and (ii) of the first proviso to Regulation 20(6), as per amendment to SEBI (AIF) Regulations, 2012, notified on January 08, 2021.

SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2021

January 8, 2021 8700 Views 0 comment Print

1. These regulations may be called the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2021. 2. They shall come into force on the date of their publication in the Official Gazette.

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