A. Extract of letter by Shri. Mallikarjun Kharge, Member of Parliament, Leader of Opposition, (Ratya Sabha) dated 9th May 2021 to Prime Minister Shri Narendra Modi. Dear Prime Minister. On behalf of the people of India. I write to convey deep concern and sense of anguish regarding the unprecedented crisis the nation faces today. It […]
IRDAI imposes Penalty of Rs. 30 Lakh and issued to Advisory M/s SBI General Insurance Company Ltd. for Non-Compliance with minimum obligations under Motor Third Party business as specified in IRDAI (Obligation of Insurer in respect of Motor Third Party Insurance Business) Regulations, 2015 for the financial year 2018-19. Insurance Regulatory and Development Authority Ref: […]
In view of the surging COVID-19 pandemic, a further relaxation for import of relief goods has been made by issue of ad hoc exemption Order No. 04/2021-Customs dated 03.05.2021. This grants exemption from IGST on goods for COVID-19 relief imported free of cost for free distribution till 30th June, 2021.
It is factually incorrect to state that there is no provision for expenditure on COVID-19 vaccination by the Central Government. The amount of Rs. 35,000 crore has been shown under the Demand for Grants No. 40, titled ‘Transfers to States’.
In the case of the KBB Nuts Private Limited V/s National Faceless Assessment Centre Delhi (NFAC) assessment proceedings and directed the revenue to grant a personal hearing to the authorised representative of the petitioner, before proceeding to pass a fresh assessment order.
It has been decided that Regional Authorities (RAs) of DGFT will not insist on valid RCMC (in cases where the same has expired on or before 31st March, 2021) from the applicants for any incentive/authorizations till 30 September, 2021.
Application of mind & availability of material must for Reasons To Believe under section 147 of The Income Tax Act, 1961 Wef 01.04.1989. Article compares Section 34 of Income Tax Act, 1922 with Section 147 of Income Tax Act, 1961 and also compare Section 147 of Income Tax Act, 1961 with Amendment made vide Amendment […]
On a review, it has been decided to amend the MD on KYC to further leverage the Video based Customer Identification Process (V-CIP) and to simplify and rationalise the process of periodic updation of KYC.
Amendment in import policy of Integrated Circuits (lCs) and incorporation of policy condition for HS Codes 85423100, 85423900, 85423200, 85429000, and 85423300, of Chapter 85 of ITC (HS), 2017, Schedule – I (Import Policy). Import policy of item listed above shall be subject to Chip Imports Monitoring System (CHIMS) with effect from 01.08.2021. Government of […]
Amid a severe second COVID wave, Ministry of Finance feels that the economic impact may not be as serious as was in 2020. Our GDP may take a hit of one percent as lockdown is being applied in few states and that it is not pan India. According to Ministry of Finance, based on its […]
