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Archive: 01 April 2021

Posts in 01 April 2021

Which Shares to Buy After The Budget?

April 1, 2021 1407 Views 0 comment Print

The Budget of 2021 has been pronounced and the market has shown moving in the upswing. The spending plan has given out a sign of another India. How to exchange or put in fact and essentially remembering the spending plan? How about we discover. Discussing the financial plan of 2021, at that point there is […]

Company Law Regulations applicable from 1st April 2021

April 1, 2021 2364 Views 1 comment Print

List of new regulations/provisions applicable with effect from 1st April 2021: 1. Corporate Social Responsibility -Every entity who undertakes CSR activity shall possess unique CSR registration number. -Every Company shall publish its CSR Policy, Composition of CSR Committee & Project approved by Board on its Website -CSR Committee to formulate and recommend the board, an […]

No bail in case of GST Evasion by availing wrongful ITC

April 1, 2021 1296 Views 0 comment Print

Manoj Kumar Garg Vs State (Meerut District Court) The statement of accused was recorded and the accused in his statement has admitted that no goods were received by his firm at his registered address from his suppliers and he claimed fake ITC on behalf of these fake firms. During investigation, the fifteen companies are found […]

Only product with solid section are classifiable as semi-finished products

April 1, 2021 1041 Views 0 comment Print

Technocraft Enterprise Vs C.C. (CESTAT Ahmedabad) We find that the essential dispute is if the product imported by the appellant falls under Chapter Heading 72249099 or Chapter Heading 73049000. The appellant is seeking classification of the product as semi-finished product of other alloy steel. it is seen that only product with solid section are classifiable […]

Levy of Penal Interest for Currency Chest Transactions Reporting

April 1, 2021 19701 Views 0 comment Print

Master Direction on Levy of Penal Interest for Delayed Reporting/Wrong Reporting/Non-Reporting of Currency Chest Transactions and Inclusion of Ineligible Amounts in Currency Chest Balances.Reporting of Currency Chest Transactions-The minimum amount of deposit into/withdrawal from currency chest will be Rs.1,00,000/- and thereafter, in multiples of Rs.50,000/-.

Master Direction on Currency Distribution & Exchange Scheme

April 1, 2021 822 Views 0 comment Print

RBI Master Direction on Currency Distribution & Exchange Scheme (CDES) based on performance in rendering customer service to the members of public

Amendment to Master Direction on KYC – KYC norms for SHGs

April 1, 2021 1707 Views 0 comment Print

Reserve Bank of India RBI/2021-22/10 DOR.AML.BC.No.1/14.01.001/2021-22 April 1, 2021 The Chairpersons/ CEOs of all the banks Madam/Sir, Amendment to Master Direction (MD) on KYC – KYC norms for Self Help Groups (SHGs) Please refer to Section 43 of the Master Direction on KYC dated February 25, 2016 as amended from time to time, wherein simplified norms for […]

Master Circular- Disbursement of Government Pension by Agency Banks

April 1, 2021 1038 Views 0 comment Print

Please refer to our Master Circular RBI/2020-21/06 dated July 1, 2020 on the above subject. We have now revised and updated the Master Circular which consolidates important instructions on the subject issued by the Reserve Bank of India till March 31, 2021

Master Circular on Conduct of Government Business by Agency Banks – Payment of Agency Commission

April 1, 2021 1155 Views 0 comment Print

Whenever agency banks collect stamp duty through physical mode or e-mode (challan based), they are eligible for payment of agency commission, provided the agency banks do not collect any charges from the members of public or receive remuneration from the State Government for doing this work.

Master Circular Credit Facilities to Minority Communities

April 1, 2021 315 Views 0 comment Print

Reserve Bank of India RBI/2021-22/06 FIDD.GSSD.BC.No.01/09.10.01/2021-22 April 01, 2021 The Chairman/ Managing Director/ Chief Executive Officer All Scheduled Commercial Banks including Small Finance Banks (Excluding RRBs and Foreign banks with less than 20 branches) Dear Sir / Madam, Master Circular – Credit Facilities to Minority Communities Please refer to our Master Circular FIDD.GSSD.BC.No.04/09.10.01/2019-20 dated July 01, […]

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