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Archive: 25 March 2022

Posts in 25 March 2022

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

May 15, 2024 7020 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.

Delhi Municipal Corporation (Amendment) Bill, 2022 introduced in Lok Sabha

March 25, 2022 1635 Views 0 comment Print

The main objective of trifurcation of the erstwhile Municipal Corporation of Delhi was to create compact municipalities at various centres in Delhi in the interest of providing more efficient civic services to the public. However, trifurcation of the erstwhile Municipal Corporation of Delhi was uneven in terms of territorial divisions and revenue generating potential. As a result, there was huge gap in the resources available to the three corporations compared to their obligations.

RBI Framework for Geo-tagging of Payment System Touch Points

March 25, 2022 735 Views 0 comment Print

In recent years, the payments ecosystem in India has witnessed rapid developments with a bouquet of payment systems, platforms, products and services available for consumers. Reserve Bank of India (Reserve Bank, Bank) is focused on deepening of digital payments and providing inclusive access to all citizens of the country, irrespective of their location or digital literacy.

Review of determination of Offer Price in case of disinvestment of PSU Companies

March 25, 2022 507 Views 0 comment Print

The objective of this consultation paper on Review of determination of Offer Price in case of disinvestment of PSU Companies is to seek comments from the public on the proposal to relax certain provision with regard to determination of open offer price in case of divestment of Public Sector Undertaking companies by the Central Government and/or State Government.

Streamlining the Timelines followed in Open Offers & Buy-back Tender Offers

March 25, 2022 3741 Views 0 comment Print

The proposed changes in the timelines of procedural activities would help reduce the overall time taken for completion of Open Offer from 62 working days to 42 working days and overall time for completion of Buyback from 43 working days to 36 working days, which would be investor-friendly and make the process more efficient.

DGTR recommended Anti Dumping Duty on 30 Chinese Products

March 25, 2022 492 Views 0 comment Print

Anti Dumping Duty On Chinese Products The Central Government (Department of Revenue, Ministry of Finance), on the basis of the recommendations of the Directorate General of Trade Remedies (DGTR), Department of Commerce, has imposed  anti-dumping duty for five years on five Chinese products recently namely certain flat rolled products of aluminium, sodium hydrosulphite, silicone sealant, […]

Job Creation Under Make In India

March 25, 2022 363 Views 0 comment Print

The ‘Make in India’ initiative was launched on 25th September, 2014 to facilitate investment, foster innovation, build best in class infrastructure, and make India a hub for manufacturing, design, and innovation. It is one of the unique ‘Vocal for Local’ initiatives that promoted India’s manufacturing domain to the world.

Basic custom duty on umbrellas raised from 10% to 20%

March 25, 2022 2532 Views 0 comment Print

Whether it is true that duty on umbrellas is being raised to 20 per cent and exemption to parts of umbrellas is being withdrawn and whether exemption is also being rationalised on implements and tools for agri-sector which are manufactured in India

GST Rates on Diamonds and Life Saving Medicines

March 25, 2022 8379 Views 0 comment Print

GST rates on all goods including Life Saving Medicines are prescribed on the recommendations of GST Council. A large number of lifesaving medicines are already at the lower rate of 5%. Others attract 12% GST rate.

Many State Govts requested for extension of GST compensation payment period

March 25, 2022 537 Views 0 comment Print

Whether the Government has received proposals from the State Governments requesting for extension of payment of Goods and Services Tax(GST) compensation to the States for another five years keeping in view the difficulties caused by Covid-19 Pandemic

State and year-wise details of GST compensation given from 2017

March 25, 2022 12162 Views 2 comments Print

As per Section 7 of the GST (Compensation to States) Act, 2017, the States are required to be compensated for loss of revenue due to implementation of GST (w.e.f. 01.07.2017) for 5 years’ period. During transition period, the States’ revenues are protected at 14% growth rate per annum over the base year revenue (2015-16). Accordingly, the States are being compensated for any shortfall against their protected revenue. The year-wise details of GST compensation released to States/ UTs is as per Annexure.

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