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Archive: 22 March 2021

Posts in 22 March 2021

Companies (CSR Policy) Amendment Rules, 2021-Analysis

March 22, 2021 14739 Views 0 comment Print

The purpose of CSR is to ensure that corporates give back to the community as they are using the social resources. CSR is extremely important for sustainable development of all stakeholders. India is the only country which has regulated and mandated CSR for some select categories of companies registered under the companies act. The CSR […]

SEBI announces modified framework for BCP and DR

March 22, 2021 1467 Views 0 comment Print

With advancement in technology and improved automation of processes, it was felt that the extant framework needs to be re-examined with a view to reducing the time period specified for moving from Primary Data Centre (PDC) to DRS.

Weekly newsletter from Chairman, CBIC, Dated: 22.03.2021

March 22, 2021 969 Views 0 comment Print

The week gone by had begun on a positive note. A Departmental Screening Committee meeting was held for ad-hoc promotions from the grade of Senior Translator to the grade of Assistant Director (Official Language). Due to this, 14 officers are likely to get promoted as AD (OL).

Provisional list of IPs for appointment as Administrator

March 22, 2021 570 Views 0 comment Print

INSOLVENCY AND BANKRUPTCY BOARD OF INDIA Guidelines for Appointment of IPs as Administrators under the SEBI (Appointment of Administrator and Procedure for Refunding to the Investors) Regulations, 2018. Provisional list of IPs prepared in accordance with ‘Guidelines for Appointment of IPs as Administrators under the SEBI (Appointment of Administrator and Procedure for Refunding to the […]

Excess jewellery seized : ED should pass reasoned order

March 22, 2021 1230 Views 0 comment Print

Banka Bullion Private Limited Vs Assistant Director & Ors. (Calcutta High Court) With regard to the search and seizure of the excess jewellery that has been seized by the Enforcement Directorate, it is to be noted that in the writ petition, the petitioner has relied on several documents to indicate that this “excess jewellery” was […]

Finalisation of Accounts – illustrative list of GST reconciliations

March 22, 2021 4350 Views 0 comment Print

To ensure that there are no major/ material misstatements, it is imperative that an auditor checks compliance with GST laws and rules even during the finalisation and audit of the Financial Statement under other statutes. It will not be out of place to state that the auditor should broadly review the reconciliation items for differences […]

Detailed Scripture on Chartered Accountants Benevolent Fund (CABF)

March 22, 2021 3246 Views 0 comment Print

In this scripture there are two fictional characters, Avinash who is recently qualified CA who and pursuing job after obtaining membership of ICAI and the second character is Mohit who is a practicing CA. Due to lack of awareness of welfare kind of activities of ICAI through funds etc., Avinash thinks that no effort is […]

RCM on Ocean freight- Part 2- FOB contracts of Import

March 22, 2021 9141 Views 0 comment Print

This part 2 will deal with FOB contracts of import, in which Freight component is separate and identifiable, as it is not included in the value of goods. The Importer pays the freight to the Shipping Line either directly or through his appointed CHA (Clearing House Agent), which is subject to RCM u/s 5(3) of the IGST Act, 2017.

‘C’ Forms cannot be rejected for Mismatch without providing the Opportunity

March 22, 2021 1272 Views 0 comment Print

Prayas Automation Pvt. Ltd. Vs State of Tripura (Tripura High Court) From the reply filed by the State authorities, it emerges that such ‘C’ Forms were not issued on account of anomaly in the valuations. As a State authority respondent No. 4 ought to have conveyed this reason to the petitioner who could have either […]

Unclaimed Dividends Recovery of Bajaj Finance Ltd. from IEPF

March 22, 2021 2931 Views 0 comment Print

What if we tell you that there is a company that has given almost 100000% return on investment in its shares within a time span of just 11 years. Would you believe us? No matter how unbelievable it sounds but this is true. This incredible milestone has been achieved by Bajaj Finance Ltd who has […]

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