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Archive: 24 March 2021

Posts in 24 March 2021

IRDAI extends exemption from Physical Insurance Proposal form till 30.09.2021

March 24, 2021 804 Views 0 comment Print

his has reference to IRDAI circular Ref: IRDA/NL/CIR/MISC/237/09/2020 dated  10th September 2020 on the above subject. The exemptions granted for issuance of electronic policies as well as dispensing with physical document and wet signature have been extended upto the period 30/09/2021.

CBIC Notifies Rate of Exchange of Turkish Lira wef 25.03.2021

March 24, 2021 441 Views 0 comment Print

CBIC notifies Rate of Exchange of Turkish Lira against India Rupees wef 25th March, 2021, vide Notification No. 32/2021-Customs (N.T.), Dated: 24th March, 2021. Government of India Ministry of Finance (Department Of Revenue) (Central Board Of Indirect Taxes And Customs) New Delhi Notification No. 32/2021 – Customs (N.T.) Dated the 24th March, 2021 In exercise […]

IRDAI Advisory- Fraudulent messages / unsolicited commercial messages

March 24, 2021 525 Views 0 comment Print

All Insurers are hereby directed to register their templates of the messages with their respective telecom service providers in controlling unsolicited calls including fraudulent calls and massages from Insurers to the Policyholders.

Extension of timelines for sale & renewal of Covid policies

March 24, 2021 438 Views 0 comment Print

In partial modification of Clause 5 of Guidelines on introduction of short term health insurance policies providing coverage for COVID-19 specific diseases of Circular no: IRDAI/HLT/REG/CIR/156/06/2020 dated 23.06.2020 all insurers are permitted to offer and renew short term Covid specific health policies up to 30.9.2021.

Short term Covid specific health insurance policies

March 24, 2021 393 Views 0 comment Print

IRDAI permitted all general and health insurance companies to offer short term Covid specific health insurance policies vide circular ref. no: IRDAI/HLT/REG/CIR/156/06/2020 dated 23.06.2020 till 31st March, 2021.

CENVAT Credit on Inputs used in Fabrication of ‘Clean Room’ eligible to Pharma Companies

March 24, 2021 2109 Views 0 comment Print

Syncom Formulations (I) Ltd. Vs Commissioner (CESTAT Delhi) I find that admittedly, the appellant have used the disputed inputs for fabrication of clean room, which is essential for manufacture of their dutiable goods, as such clean room is  necessary for maintaining proper temperature and hygiene as well as keeping the RH factor in control, and […]

GST on leasing of property for use as residence with basic amenities

March 24, 2021 3978 Views 0 comment Print

Bishops Weed Food Crafts Pvt. Ltd. (GST AAR Karnataka) 1) Whether leasing of property for use as residence along with basic amenities would qualify, as composite supply under Section 2(30) of the Karnataka Goods and Services Tax Act, 2017? ‘Leasing of property for use as residence along with basic amenities’, in the instant case, is […]

Supply of software licence – supply of goods or services?

March 24, 2021 21723 Views 0 comment Print

The core issue before us to decide is the classification of the supply of software licence by the applicant i.e. whether it amounts to supply of goods or services. We observe that the software supplied by the applicant is a pre-developed or pre-designed software and made available through the use of encryption keys and hence it satisfies all the conditions that are required to be satisfied to cover them under the definition of ‘goods’,

GST on supervision charges of loading/unloading/transportation of agricultural produc

March 24, 2021 28566 Views 0 comment Print

In re Karnataka State Warehousing Corporation (GST AAR Karnataka) Whether ‘supervisory charges’ under clause 28(b) of the Office order on charges of KSWC charged to Food Corporation of India (FCI) by the Corporation towards supervision of loading, transportation and unloading of agricultural produce like Rice, wheat etc., at the rate of 8% on the amount […]

Airports Economic Regulatory Authority of India (Amendment) Bill, 2021 introduced in Lok Sabha

March 24, 2021 660 Views 0 comment Print

Airports Economic Regulatory Authority of India (Amendment) Bill, 2021 proposes to amend the definition of major airport so as extend its scope to determine the tariff for a group of airports also, which will encourage development of smaller airports.

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