We often heard the terminology -Imports and we all know that anything is brought from overseas is treated as imports and parties involved are seller/exporter, freight forwarder/career, buyer/importer and custom authority. For any foreign currency transaction basic documents required are permission i.e. IEC (import export code),PAN (Permanent account number) and GST registration. Now the question […]
This article explains meaning of third-party along with requirement to be followed for third-party exports and third party imports, GST provision on the same, customs guideline and finally RBI requirement to fulfill the conditions for third-party exports and third-party import.
Comparison between Old Act {Insolvency and Bankruptcy Code, 2016} & New/Amended Act {Insolvency and Bankruptcy Code (Amendment) Act, 2021} Part 1 (Changes in Sections/Substituted Sections) Amendment Insolvency and Bankruptcy Code, 2016 Insolvency and Bankruptcy Code (Amendment) Act, 2021 Short title and commencement This Act may be called the “Insolvency and Bankruptcy Code, 2016” This Act […]
Learn about the valuation of unquoted equity shares under Income Tax in case of transfer and issue of shares. Understand the importance of Fair Market Value and Capital Gain Tax.
Directorate of Income Tax (Systems) notifies that Form 3CEF, 10F, 10IA, 3BB, 3BC, 10BC, 10FC, 28A, 27C, 58D, 58C and 68 shall be furnished electronically and shall be verified in the manner prescribed under Income tax Rule 131(1). Form No. 3CEF, 58C, 58D, 27C, 3BB, 3BC, 10BC and 28A are now available on the e-Filing […]
Gain insights into the concept of related party transactions in India. Understand its implications and the regulations set by government bodies.
Understand the scope and purpose of Ind AS 1 Presentation of Financial Statements. Learn about the requirements for presenting general purpose financial statements.
Income Tax Department carried out a search and seizure operation on 07.07.2022 on a Delhi and Mumbai based group, engaged in the business of hospitality, marble, lights trading and real estate. A total of 18 premises across Delhi, Mumbai and Daman were covered during the search action. During the course of the search operation, a […]
India’s overall exports (Merchandise and Services) grow by 23% in June; Exports growth in 1st quarter over 25%; Petroleum products, Electronic Goods, Textiles, Cereals, Leather products, Rice, Minerals, oil seeds, coffee and Gems & Jewellery record high exports growth during June INDIA’S FOREIGN TRADE: June 2022 India’s overall exports (Merchandise and Services combined) in June […]
Recently a cyber security incident has been noticed on the E-mail system of SEBI which was undergoing a system upgrade and accordingly an FIR as per the relevant provisions of law has been filed.
