2 Archive - 16 December 2021

"16 December 2021" Archive

Shipping bill serves as deemed IGST refund application

Jal Engineering Vs Union of India (Gujarat High Court)

Held that the refund towards the IGST paid in respect of the goods exported i.e. zero rated supplies, vide the shipping bills ought to have been completed as the two circumstances provided in sub clauses (a) & (b) of Clause (4) of Rule 96 of Rules, 2017 do not exist. The shipping bills, as per Rule 96, exporter once file are deemed to be ...

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3.59 crore Income Tax Returns filed on new e-filing portal

3.59 crore Income Tax Returns filed on the new e-filing portal of the Income Tax Department Senior officials of Ministry of Finance headed by Secretary, Revenue had a meeting with the Infosys team headed by Shri Salil Parekh, MD & CEO, Infosys on 16.12.2021, on the preparedness of the e-filing website during the peak filing […]...

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Posted Under: Income Tax |

Govt reduces GST Rate on Ethanol to 5% from 18%

TAX BREAKS ON ETHANOL | The Government has lowered Goods and Services Tax rate to 5% from 18% on ethanol meant for blending under the Ethanol Blended Petrol (EBP) Programme The Minister of State for Petroleum and Natural Gas, Shri Rameswar Teli in a written reply to a question in the Lok Sabha today informed […]...

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Posted Under: Income Tax |

Steps taken by government to arrest the price hike of electricity

Steps taken by the government to arrest the price hike of electricity A series of steps taken by the Government of India has helped to arrest the price hike of electricity in recent past. Such steps include (i)   Government of India announced a Liquidity Infusion Scheme (LIS) through Power Finance Corporation (PFC) Ltd. and Rural [&hell...

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Posted Under: Income Tax |

Biological Diversity (Amendment) Bill, 2021 introduced in Lok Sabha

Bill No. 158 of 2021 16/12/2021

The Biological Diversity (Amendment) Bill, 2021, inter alia, seeks to— (i) reduce the pressure on wild medicinal plants by encouraging cultivation of medicinal plants; (ii) encourage Indian system of medicine; (iii) facilitate fast-tracking of research, patent application process, transfer of research results while utilising th...

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DGFT amends MEIS schedule

Public Notice No. 43/2015-20 [F. No. 01/61/180/ 107/AM21/PC-3/E-23249] 16/12/2021

Certain additions/amendments have been made to Table 2 of Appendix 3B, the MEIS schedule to harmonize it with Notification No. 48 dated 22.12.2020 and changes as enacted by the Finance Act 2020. Also Read: Corrigendum to Public Notice No. 43/2015-2020 dated 16.12.2021 Government of India Ministry of Commerce & Industry Department of C...

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SEBI reply on query related to Ratification of existing & Prospective material related party transactions

No. SEBI/HO/DDHS/P/OW/2021/37583/1 16/12/2021

All material related party transactions shall require approval of the shareholders through resolution and no related party shall vote to approve such resolutions whether the entity is a related party to the particular transaction or not...

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Publishing Investor Charter & Disclosure of Investor Complaints by Merchant Bankers

SEBI/HO/DDHS/DDHS_Div3/P/CIR/2021/690 16/12/2021

1. With a view to provide investors relevant information about the primary market issuances by InvITs, an Investor Charter has been prepared by SEBI in consultation with Merchant Bankers for private placement of units by InvITs propose to be listed....

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SEBI modifies framework for verification of upfront collection of margins from clients

Circular No. SEBI/HO/CDMRD/CDMRD_DRM/P/CIR/2021/689 16/12/2021

For commodity derivatives segment, clearing corporations shall send an additional minimum two snapshots for commodity derivative contracts which are traded till 9:00 PM and additional minimum three snapshots for the commodity derivatives contracts which are traded till 11:30/11:55 PM. Margins/EOD margins shall be determined as per the rel...

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Shifting of Registered Office of the Company

The Company is required to have a place registered in the public records where any letters, notices, other communications can be sent by various stakeholders of the Company. That place is known as the Registered Office of the Company. The Company is mandatorily required to establish its registered office at the time of incorporation and [...

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Posted Under: Income Tax |

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