"11 August 2022" Archive

Reg: Withdrawal of exemption from GST on services provided by IRDAI to Insurers

Ref: IRDAI/GA&HR/CIR/MISC/171/8/2022 11/08/2022

Insurance Regulatory and Development Authority of India Circular Ref: IRDAI/GA&HR/CIR/MISC/171/8/2022 | Dated: 11/08/2022 Reg: Withdrawal of exemption from GST on services provided by IRDAI to Insurers As per the MoF (Dept. of Revenue), GoI Notification No. 04/2022 – Central Tax (Rate), dt. 13th July, 2022 (effective from 18th Ju...

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Applicability of GST on services provided by IRDAI to Insurance intermediaries

Ref: IRDAI/GA&HR/CIR/MISC/172/8/2022 11/08/2022

All insurance intermediaries are directed to submit a copy of their GST registration certificate bearing Goods and Services Tax Identification Number to IRDAI...

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Jacket with camera for use by the vessel Boarding Officer-pilot at JNCH- procedure

Standing Order No. 10/2022- JNCH 11/08/2022

he use of similar uniform jacket with equipment for Customs has been examined. It is felt that to begin with, this should be prescribed for use by the Boarding Officers at this port on pilot basis....

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Amendment in Export Policy of Items under HS Code 1101 (wheat)

Instruction No.17/2022-Customs 11/08/2022

During the period from 8th August 2022 till 14th August, 2022 certain consignments of wheat flour, as specified therein, will be allowed to be exported....

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Income Tax Department searches gems & jewellery group in Rajasthan

The Income Tax Department carried out a search operation on 03.08.2022 on a Jaipur based group, engaged in the business of gems and jewellery, hospitality and real estate. The search operation has covered more than three dozen premises located in Jaipur and Kota....

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Posted Under: Corporate Law |

Conditions for off-site/mobile ATMs operationalisation by DCCB

Notification No. RBI/2022-23/106 DOR.REG.No.63/19.51.052/2022-23 11/08/2022

Criteria for opening of branches/extension counters/specialized branches/regional offices/zonal offices/administrative offices/shifting of branches/upgradation of extension counters into full-fledged branches by a DCCB...

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RBI’s Press Release on digital lending

Objective & Background -To mitigate the concerns of public in digital lending ecosystem which primarily relate to unbridled engagement of third parties, mis-selling, breach of data privacy, unfair business conduct, charging of exorbitant interest rates, and unethical recovery practices. -Against this, RBI had constituted a Working Gro...

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Posted Under: Corporate Law |

Faceless Assessment: Fresh SOP Issued to Address Taxpayers’ Conflicts

Since inception, Faceless Assessments witnessed various conflicts between the assesses and the Revenue Authorities. The biggest conflict was the invocation of Best Judgement Assessments without giving any opportunity of being heard or taking cognizance of the written submissions of the assesses. Other disputes included – not being g...

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Posted Under: Corporate Law |

Decoding GST on Liquidated Damages

Circular No. 178/10/2022-GST A. Decoding of What Constitutes Liquidated Damages: Liquidated damages are mere a flow of money from the party who causes breach of the contract to the party who suffers loss or damage due to such breach. Such payments do not constitute consideration for a supply and are not taxable. A perusal of […]...

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Posted Under: Corporate Law |

Footwear Made from Leather and Other Materials (Quality Control) Amendment Order, 2022

Order No. S. O. 3775(E). 11/08/2022

This Order may be called the Footwear Made from Leather and Other Materials (Quality Control) Amendment Order, 2022. ...

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