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Archive: 31 March 2021

Posts in 31 March 2021

Panel of Insolvency Professionals for appointment as Administrator

March 31, 2021 1146 Views 0 comment Print

Panel 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 Investors) Regulations, 2018 for appointment as Administrator for a period from April 1, 2021 to September 30, 2021.

Emergency Credit Line Guarantee Scheme 1.0 & 2.0 extended upto 30.6.2021

March 31, 2021 984 Views 0 comment Print

ECLGS 3.0 would involve extension of credit of upto 40% of total credit outstanding across all lending institutions as on 29.02.2020. The tenor of loans granted under ECLGS 3.0 shall be 6 years including moratorium period of 2 years.

Standard products on Fire and Allied perils insurance business

March 31, 2021 579 Views 0 comment Print

On 4th January, 2021, the Authority had announced the launch of the following three standard products by all general insurers carrying on the business of Fire and Allied perils insurance business, with effect from 1st April, 2021

State Governments cannot levy electricity duty on inter-State sale of electricity: Tripura High Court

March 31, 2021 4389 Views 0 comment Print

ONGC Tripura Power Company Ltd. Vs State of Tripura (Tripura High Court) In a significant legal victory for electricity-generating companies, the Tripura High Court has held State Governments cannot levy electricity duty on inter-State sale of electricity. ONGC Tripura Corporation Ltd had challenged the provisions of the Tripura Electricity Duty Act, 2019 (TEDA) by a […]

Govt notifies Amendments to Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003

March 31, 2021 801 Views 0 comment Print

In exercise of the powers conferred by section 164 of the Finance Act, 2021 (13 of 2021), the Central Government hereby appoints the 1st day of April, 2021 as the date on which the provisions of Part XIII of Chapter VI of the said Act shall come into force.

A little something to boost your spirits for F.Y. 2021-22

March 31, 2021 1263 Views 0 comment Print

Today on the 31st of March 2021, a small recap on the Financial Year we just completed! P.S.- 1. Not quoting any technical stuff here 2. Just a general analysis 3. Solely personal views and experience!!! On 01.04.2020, this year began with uncertainty, fear, panic, and all other negative emotions one can think of. Job […]

Enhanced 74% FDI in Insurance provisions applicable from 01.04.2021

March 31, 2021 489 Views 0 comment Print

Insurance (Amendment) Act, 2021 raises limit of foreign investment in Indian insurance companies from the existing 49 per cent to 74 per cent. No Government provided that these provisions will be effective from 1st day of April, 2021 . MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 31st March, 2021 S.O. 1426(E).—In […]

Mere recession not sufficient cause for non-payment of TDS

March 31, 2021 2049 Views 0 comment Print

Income Tax Department Vs Parsvnath Developers Ltd. (Delhi House Court) The tax deducted as source cannot be equated with the payment of other liabilities like service tax or sales tax whose payment may be dependent upon the actual realization of money. TDS is deducted in advance by the assessed before making any payment for the […]

Let’s Become a Statutory Auditor: Stat Audit Checklist

March 31, 2021 44961 Views 2 comments Print

So, we are again at the close of the financial year 2020-21 and across our responsibility as an auditor of expressing our opinion on true and fair view of the financial statements. As a statutory auditor we are expected to check the compliances with respect to Companies Act,2013.

Sunset review investigation initiated on imports of Cold Rolled/cold reduced flat steel products

March 31, 2021 513 Views 0 comment Print

Case No. AD (SSR)-06/2021Initiation of sunset review investigation concerning imports of ―Cold Rolled/cold reduced flat steel products of iron or Non-Alloy Steel, or other Alloy Steel, of all width and thickness, not clad, plated or coated‖ originating in or exported from China PR, Japan, Korea RP and Ukraine

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