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Archive: November, 2021

Posts in November, 2021

No Penalty for mere wrong apportionment of CENVAT Credit between 2 Units

November 9, 2021 1104 Views 0 comment Print

Synthokem Labs Pvt Limited Vs Commissioner of Central Tax (CESTAT Hyderabad) The only issue remains now is as to whether the case in hand was merely a case of wrong apportionment of credit between the appellants both units, a bonafide clerical error or it was a case of intentional malafide intention to evade payment of […]

ICAI Election: Difficulty In Exercising Option to Get Polling Booth Re-Allotted

November 9, 2021 681 Views 0 comment Print

Members may kindly refer to the Announcement dated 14th October 2021 vide which the procedure to exercise option to get polling booth re-allotted was specified in pursuance to Rule 5 and sub-rule 2 of Rule 6 of the Chartered Accountants (Election to the Council) Rules, 2006. The said Announcement is hosted on www.icai.org Of late, […]

ICAI Election: Request Format For Change of Polling Booth

November 9, 2021 2835 Views 0 comment Print

REQUEST FORMAT FOR CHANGE OF POLLING BOOTH [Rule 5 and 6(2)] The Returning Officer ICAI, New Delhi Sir I am a voter by poll as per list of voters as on 1/4/2021 and unable to exercise my option in terms of *Rule 5 or *Rule 6(2) of the Chartered Accountants (Election to the Council) Rules, […]

ICAI Election: Single Transferable Vote – An apprisal

November 9, 2021 927 Views 0 comment Print

ICAI Election 2021 Single Transferable Vote – An apprisal As the members are aware that the elections of the Institute to the Council and Regional Councils are held by following the system of proportional representation by means of a single transferable vote and in accordance with the Chartered Accountants (Election to the Council) Rules, 2006 […]

ICAI Election: Admissible number of votes to a Voter & Ballot paper

November 9, 2021 2415 Views 0 comment Print

Admissible number of votes to a Voter and Ballot paper Each eligible member to vote (i.e. Voter) shall be given a ballot paper each for Council of the Institute and his respective Regional Council at the polling booth for recording his preference(s). The ballot paper shall be printed in English language on one side only […]

IRDAI cautions SLA to engage only licensed Surveyor for survey works

November 9, 2021 2520 Views 0 comment Print

The findings indicate that for certain cases, the Licensed surveyors have not been utilised for survey work and on this the SLA submitted that these cases were of  inspection and verification of the documents and there was no assessment of losses involved. In view of the explanation given , the SLA is cautioned that they should engage only licensed Surveyor for survey works and maintain proper records regarding the same.

RBI Master Circular – Guarantees and Co-acceptances

November 9, 2021 4029 Views 0 comment Print

(i) As a rule, banks should avoid giving unsecured guarantees in large amounts and for medium and long-term periods. They should avoid undue concentration of such unsecured guarantee commitments to particular groups of customers and/or trades.

Faceless Assessment- Courts Uphold Principle of Natural Justice

November 9, 2021 9438 Views 1 comment Print

Introduction: The government’s intention to reduce the interaction between assessee and the department and leaps in technology evolved the concept of “faceless assessment”. Now technology is the vehicle which is used to carry out the assessment proceedings which were otherwise physical/manual in nature. The process of filing the submissions has changed from manual to online […]

Re-constitution of Committee for RODTFP

November 9, 2021 762 Views 0 comment Print

Government has constituted a Committee for a) determination of RODTEP rates for AA/EoU/SEZ exports and b) to give supplementary report/ recommendations on issues relating to errors or anomalies, with respect to the RODTEP Schedule of rates notified in the Appendix 4R.

Aadhaar (Authentication and Offline Verification) Regulations, 2021

November 8, 2021 4344 Views 0 comment Print

(1) These regulations may be called the Aadhaar (Authentication and Offline Verification) Regulations, 2021. (2) These regulations shall come into force on the date of their publication in the Official Gazette.

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