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Addl Director General of Foreign trade sets aside fiscal penalty of ten crores levied on the assessee and also considers bill of export in substitution to the certificate issued by the special economic zone pertaining to EPCG scheme. Summary: An appeal was filed under section 15 of Foreign Trade (Development and Regulation) Act, 1992 before […]
TCS stands for Tax Collected at source. In the GST regime, every e-commerce operator needs to collect 0.5% under CGST Act and 0.5% under SGST Act; In case of inter-state transactions, 1% (under IGST Act) on the net values of taxable supplies made through the e-commerce operator.
Board and Members meeting acts as a platform in proposing actions and mounting decisions. It is a place where they unite together to discuss and decide on how to lead an organisation in a best governed manner.
Fair value is a market-based measurement, not an entity-specific measurement. For some assets and liabilities, observable market transactions or market information might be available. For other assets and liabilities, observable market transactions and market information might not be available.
Securities and Exchange Board of India Circular No. SEBI/HO/CFD/PoD-1/P/CIR/2022/120 | Dated: September 19, 2022 To All Recognized Stock Exchanges All Recognized Depositories All Merchant Bankers and Brokers registered with SEBI All Social Enterprises All Social Impact Fund registered with SEBI All Social Audit Firms/ Institute of Chartered Accounts of India Dear Sir / Madam, Sub: Framework on […]
Securities and Exchange Board of India Circular No. SEBI/HO/MIRSD/DoP/P/CIR/2022/119 | Dated: September 19, 2022 To, All Depositories All recognized Stock Exchanges and Clearing Corporations Madam / Sir, Sub: Validation of Instructions for Pay-In of Securities from Client demat account to Trading Member (TM) Pool Account against obligations received from the Clearing Corporations 1. In order to protect […]
As part of the overall structure for Corporate Governance, the Compliance Function serves a critical role. Therefore, it has been decided to introduce certain principles, standards and procedures for Compliance Function in UCBs, keeping in view the principles of proportionality
Nathuram Surendra Kumar Vs Union of India (Chhattisgarh High Court) Chhattisgarh High Court accepts Writ petition challenging the Vires of Section 16 (4) of CGST Act 2017 Heard Mr. Palash Soni, learned counsel, appearing for the petitioners. Also heard Mr. Ramakant Mishra, learned Assistant Solicitor General, appearing for the respondent No. 1, Mr. Gagan Tiwari, […]
On the anti-smuggling side, last week saw the Directorate of Revenue Intelligence (DRI) interdict a consignment declared as ‘Floor Clean Mops’. Examination revealed more than 200,000 e-cigarettes, valued in excess of Rs. 48 Crore, concealed in container.
The withdrawal requests of Subscribers at the time of exit were hitherto executed on T+4 working/settlement days (T being the day of authorization of withdrawal request by Nodal office/PoP/Subscriber) and the timeline has been reduced to T+2.
