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Archive: April, 2021

Posts in April, 2021

Section 50C of Income Tax Act, 1961

April 27, 2021 216234 Views 7 comments Print

Understanding Section 50C of the Income Tax Act, 1961: Learn about the determination of full value of consideration for transfer of capital assets.

How E-Invoicing works & its applicability under GST

April 27, 2021 10431 Views 0 comment Print

E-invoicing is the proposed system where business-to-business (B2B) invoices are digitally prepared in an e-invoicing format and authenticated by the Designated Portal – Invoice Registration Portal (IRP). This system ensures that a common format is followed by all businesses before reporting invoices to the GST portal.

Issue not raised in SCN, cannot be imported into adjudication or Appeal order

April 27, 2021 4536 Views 0 comment Print

Explore the CESTAT Ahmedabad ruling in Huhtamaki PPL Ltd vs C.C.E. & S.T. regarding Cenvat Credit on warehousing services. Know the legal insights and implications.

Clarify FDI Policy to stop inventory control by foreign e-commerce companies

April 27, 2021 753 Views 0 comment Print

Urgent Need to bring a New Press Note to clarify the FDI Policy to stop inventory control by foreign e-commerce companies and also to take strong action against foreign e-commerce companies for using unfair means to gain market share at the cost of small merchants in the lockdown due to covid-19 pandemic.

Opt Out Facility & Carry Forward of CSEET Fees Paid for May 2021

April 27, 2021 975 Views 1 comment Print

Some of the candidates enrolled for CSEET to be held in May 2021 Session are sending requests to carry forward the credit of CSEET fee to July 2021 session of CSEET due to the following reasons.

GST: Assessment order passed without supplying third party evidence relied on: Set aside by Madras HC for violation of principles of natural justice

April 27, 2021 3303 Views 0 comment Print

Sri Muniappa Steels Vs Assistant Commissioner (Madras High Court) GST: Assessment order passed without supplying the third party evidence relied on: Set aside by the Madras HC on grounds of violation of principles of natural justice. An assessment order passed under the GST laws, based on a statement given by a third party dealer for […]

RBI issues Guidelines for Appointment of Statutory Auditors

April 27, 2021 17781 Views 0 comment Print

Issue of Guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs Reserve Bank of Indiaand NBFCs (including Housing Finance Companies)

SEBI Policy on Provisional Credit Rating Rating for Debt Instruments

April 27, 2021 969 Views 0 comment Print

All Provisional Ratings (‘long term’ or ‘short term’) for debt instruments shall be prefixed as ‘Provisional’ before the rating symbol in all communications viz. rating letter, press release / rating rationale, etc.

IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Second Amendment) Regulations, 2021

April 27, 2021 567 Views 0 comment Print

Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Second Amendment) Regulations, 2021 INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, 27th April, 2021 No. IBBI/2021-22/GN/REG074.—In exercise of the powers conferred by sections 196, 203 and 205 read with section 240 of the Insolvency and Bankruptcy Code, 2016 […]

IBBI (Insolvency Professionals) (Amendment) Regulations, 2021

April 27, 2021 825 Views 0 comment Print

These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2021. They shall come into force on the date of their publication in the Official Gazette.

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