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Archive: 14 March 2022

Posts in 14 March 2022

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7017 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Updated Income Tax Return- A Boon Or A Bane???

March 14, 2022 12816 Views 1 comment Print

The Finance Act, 2022 has introduced a new provision for furnishing of updated return by inserting a new sub-section (8A) in section 139 of the Income Tax Act. The newly inserted section, if to be put in simple words, says if a person has not furnished an original or belated or revised return under the […]

Master Direction – RBI (Regulatory Framework for Microfinance Loans) Directions, 2022

March 14, 2022 4665 Views 0 comment Print

A microfinance loan is defined as a collateral-free loan given to a household having annual household income up to ₹3,00,000. For this purpose, the household shall mean an individual family unit, i.e., husband, wife and their unmarried children.

IP cannot withdraw fee without the approval of the CoC: IBBI

March 14, 2022 1824 Views 0 comment Print

The DC notes that an amount of Rs. 1,51,928/- was paid to Ms. Gupta in terms of the direction of the Hon’ble NCLAT vide order dated 01.08.2017. Subsequently, Ms. Rita Gupta withdrew an amount of Rs.19,28,340/- on 26.03.2018 without the approval of the CoC. The total fee payable to Ms. Rita Gupta, as approved by […]

Mewar Chamber of Commerce & Industry, Rajasthan is enlisted under Appendix 2E of FTP, 2015-2020

March 14, 2022 1044 Views 0 comment Print

Mewar Chamber of Commerce & Industry, Rajasthan is enlisted under Appendix 2E of FTP, 2015-2020 for issuing Certificate of Origin (Non Preferential).

Maharashtra settlement of arrears of Tax, Interest, Penalty or late fees scheme 2022

March 14, 2022 19440 Views 3 comments Print

Arjun (Fictional Character): Krishna, the Maharashtra Government has introduced various schemes in the Budget to settle old disputes. Considering the same, the government has introduced an scheme to solve disputes between Maharashtra government and taxpayers. Krishna (Fictional Character): Arjuna, Maharashtra govt. has introduced a separate scheme on 11th March,2022 named as “Maharashtra Settlement of Arrears […]

RBI notifies non-applicability of Sections 45IA, 45IB & 45IC to NBFCs

March 14, 2022 3807 Views 0 comment Print

Sections 45IA, 45IB and 45IC of the Reserve Bank of India Act, 1934 (2 of 1934) shall not apply to any non-banking financial company (i) which is (a) providing only microfinance loans as defined under the Reserve Bank of India (Regulatory Framework for Microfinance Loans) Directions, 2022, provided the monthly loan obligations of a household does not exceed 50 per cent of the monthly household income

Reducing Delays In Litigation Management – Reg.

March 14, 2022 2097 Views 0 comment Print

Field formations under your jurisdiction may be suitably sensitized to forward SLP/Civil Appeal proposals through LIMBS as well as through e-office mode, till the LIMBS application is stabilized and the same is used efficiently by the field formations.

FDI Policy amended to permit foreign investment in LIC to 20%

March 14, 2022 1176 Views 0 comment Print

Review of FDI Policy for permitting foreign investment in Life Insurance Corporation of India (LIC) and other modifications for further clarity of the existing FDI Policy.

Exemption from SGST allowed to movie ‘Kashmir Files’ in Karnataka

March 14, 2022 1818 Views 0 comment Print

Government of Karnataka has directed to allow for State GST (SGST) benefit to the cinematographic shows of the movie The Kashmir Files.

On termination of conciliation under MSMED Act the dispute between the parties can be resolved by arbitration- SC

March 14, 2022 2460 Views 0 comment Print

In the instant case, MSME Council had passed an impugned order directing the appellant to make payment to the respondent without giving sufficient opportunity to the appellant to participate in the arbitration proceeding. If the appellant had not submitted its reply at the conciliation stage, or failed to appear, Council could, at best, have recorded failure of conciliation and proceeded to initiate arbitration proceedings to adjudicate the dispute and make an award.

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