"18 November 2021" Archive

RBI releases Report of Working Group on digital lending

Press Release: 2021-2022/1224 20/11/2021

The thrust of the report has been on enhancing customer protection and making the digital lending ecosystem safe and sound while encouraging innovation. ...

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Experience as a proprietor or non-executive director cannot be considered as a substitute of desired experience in management for IP Registration

NA 18/11/2021

Experience as a proprietor or non-executive director cannot be considered as a substitute of desired experience in management for IP Registration It is observed that the applicant is providing consultancy and valuation services and is not in full time employment with any It is also observed that Elite Construction was registered with PF a...

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CBIC Notifies Rate of Exchange of Foreign Currencies wef 19.11.2021

Notification No. 92/2021-Customs (N.T.) 18/11/2021

CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 19th November, 2021 vide Notification No. 92/2021- Customs (N.T.) | Dated: 18th November, 2021. Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs Notification No. 92/2021 – Customs (N.T...

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CBIC instructions on issuance of SCNs & disposal of adjudication matters

Instruction No. CBIC-90206/1/2021-CX-IV Section-CBEC 18/11/2021

Audit para no. 5.1 to 5.18 of chapter V of Audit report no. 01 of 2021 on Show Cause Notices and adjudication process in CBIC has made certain observations regarding issuance of SCNs and disposal of adjudication matters including call book cases....

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SEBI amends circular related to Schemes of Arrangement by Listed Entities

Circular No. SEBI/HO/CFD/DIL2/CIR/P/2021/0000000659 18/11/2021

1. SEBI vide Circular No. SEBI/HO/CFD/DIL2/CIR/0/2021 dated November 16, 2021 notified changes to the Master Circular No. SEBI/HO/CFD/DIL1/CIR/P/2020/249 dated December 22, 2020. 2. In this regard, an addendum to the aforesaid Circular dated November 16, 2021 is placed at Annexure 1....

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Income Tax dept searches Kolkata based cement & real estate group

The Income Tax Department carried out search and seizure operations on 16.11.2021 on a prominent Kolkata based group engaged in manufacturing of cement and real estate. The search action covered 24 premises spread over Kolkata, Delhi and places in the states of Assam and Meghalaya....

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Posted Under: Fema / RBI |

GST on Royalty – Mining Sector | A 360 degree analysis

GST ON ROYALTY PAID FOR MINING OPERATIONS: 1. What is Royalty? Royalty in law means payment made to the owner of certain types of rights by those who are permitted by the owners to exercise such rights. The rights concerned, for example, are – literary, copyright, patent etc. and include rights in mineral deposits. Although [&hellip...

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Posted Under: Fema / RBI | ,

TNGST: Exemption from filing annual GST return for FY 2020-21

Notification No. 15/2021-TNGST- PP2/GST-15/11/2021 18/11/2021

TNGST Commissioner exempts the registered person whose aggregate turnover in the financial year 2020-21 is upto two crore rupees, from filing annual GST return for the said financial year....

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GST on Distillers Wet Grain Solubles (DWGS)

Distillers Wet Grain Solubles (DWGS), which is sold as Cattle Feed, is a kind of brewing or distilling dregs & waste. It is classified under Tariff Entry 2303 of GST Tariff & taxable @5% (2.5%+2.5%)...

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Posted Under: Fema / RBI |

Notification No. 17/2021-Central Tax (Rate), Dated: 18.11.2021

Notification No. 17/2021-Central Tax (Rate) [G.S.R. 813(E).] 18/11/2021

Seeks to amend Notification No 17/2017- Central Tax (Rate) dated 28.06.2017 MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 18th November, 2021 Notification No. 17/2021-Central Tax (Rate) G.S.R. 813(E).—In exercise of the powers conferred by sub-section (5) of section 9 of the Central Goods and Services Tax Act, 2017 (12 of 2...

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November 2021