Respondent is directed to release the vehicle subject to payment of the applicable SGST and CGST by the petitioner to be treated as deposit. The respondent shall issue appropriate notice to the petitioner to show cause as to why SGST and CGST directed to be deposited should be demanded and why penalty should not be imposed on the petitioner.
It has now been decided to make scheduled payments banks and scheduled small finance banks eligible to conduct Government agency business. Any payment bank or small finance bank that intends to undertake Government agency business may be appointed as an agent of RBI upon execution of an agreement with RBI, provided that the overarching regulatory framework prescribed for these banks is complied with.
The Income Tax Department carried out search and seizure operations on 08.12.2021 on four Asset Reconstruction Companies (ARCs). Total of 60 premises spread over Mumbai, Ahmedabad, Delhi, etc. have been covered.
Election Laws (Amendment) Bill, 2021 is introduced in Lok Sabha to amend section 28 of the Representation of the People Act, 1950 which confers power upon the Central Government to make rules. The matters on which rules may be made, inter alia, relate to—(a) the authority and the form and manner of intimation of Aadhaar […]
Skoda Auto Volkswagen India Private Limited Vs ACIT (Bombay High Court) Petitioner had in its annual report mentioned about the technical know how fee, royalty and technical assistance fee that it had paid to Skoda Auto a.s. and Volks Wagen AG. Petitioner had also filed Form 3CEB in which it had disclosed about details and […]
Bijnor Urban Cooperative Bank Limited Vs Meenal Agarwal (Supreme Court of India) The Apex court of the Nation ruled out in a recent judgement (Dec 15, 2021 reg matter of Bijnor Urban Cooperative Bank Limited) – that no court can direct a bank or a financial institution (FI) to offer one-time settlement (OTS) to a […]
Ministry of Corporate Affairs and Financial Intelligence Unit-India sing MoU for data exchange between the two organisations A formal Memorandum of Understanding (MOU) was signed today between the Ministry of Corporate Affairs (MCA) and Financial Intelligence Unit-India, Ministry of Finance for data exchange between the two organizations. The MoU was signed by Shri Manoj Pandey, Joint […]
SHARE OF EXPORTS IN GDP Government has been facilitating, monitoring, assisting and channelizing efforts to increase the exports and thereby its share in GDP through a target-driven approach by engaging all stakeholders, across states and districts. Despite the pandemic, the share of India’s total exports (Good & Services) to GDP was 18.7% in 2020-21, which […]
IMPACT OF COVID-19 ON EXPORTS India’s merchandise exports in April-November 2021 was USD 263.78 billion which is 65.95% of export target of USD 400 billion for 2021-22, while till October 2021, merchandise exports was USD 233.90 billion. Government has increased the present period of realization and repatriation of the amount representing the full export value […]
Government of India has taken up implementation of various industrial corridor projects under National Industrial Corridor programme. The aim is to develop greenfield industrial nodes in India which can compete with the best manufacturing and investment destinations in the world. The objective for development of these nodes is to facilitate provision of plug n play infrastructure at […]
