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Archive: 15 February 2023

Posts in 15 February 2023

IBBI penalises IP for placing non­-compliant resolution plan for consideration of CoC

February 15, 2023 1455 Views 0 comment Print

Mr. Anurag Kumar Sinha has erred in his judgement in placing a non­compliant resolution plan for the consideration of the CoC. Further, despite being non­compliant plan, it was passed and placed for AA’s approval. AA has strongly commented on the issue in its judgement pointing out the mistake of the resolution professional and the CoC […]

Challenges faced by trade w.r.t monitoring of BLUT & requirement for additional BLUT

February 15, 2023 681 Views 0 comment Print

No. K.43013(18)/2/2022-SEZ Government of India Ministry of Commerce & Industry Department of Commerce (SEZ Division) Vanijya Bhavan, New Delhi Dated the 15th February, 2023 To The Development Commissioner All SEZs Subject: Challenges faced by trade w.r.t monitoring of BLUT and requirement for additional BLUT —reg. Sir, I am directed to refer to representations received from […]

Maintenance of a website by stock brokers & depository participants

February 15, 2023 2052 Views 0 comment Print

A designated website brings in transparency and helps the investors to keep themselves well informed about the various activities of the SB/DP. In view of the same, considering the advancement in technology and need to provide better services to the investors, all SBs and DPs are hereby, mandated to maintain a designated website.

IND AS 109 – Financial Instruments – Valuation

February 15, 2023 33639 Views 1 comment Print

Objective of standard 109- Financial Instruments is to establish principles for the financial reporting of financial assets and financial liabilities that will present relevant and useful information to users of financial statements for their assessment of the amounts, timing and uncertainty of an entity’s future cash flows.

Introduction of Issue Summary Document & dissemination of issue advertisements

February 15, 2023 1440 Views 0 comment Print

ISD shall be filed in two stages: i. In the first stage, ISD will be filed containing pre-issue / offer fields. ii. In the second stage, ISD will be filed containing post-issue / offer fields after allotment/offer is completed / as applicable for respective ISD.

CBDT notifies Income Tax Return Forms for AY 2023-24 well in advance

February 15, 2023 2928 Views 0 comment Print

CBDT notified Income-tax Return Forms (ITR Forms) for Assessment Year 2023-24 vide Notifications No. 04 & 05 of 2023 dated 10.02.2023 and 14.02.2023.

Reasons to Believe is foundation stone of reassessment proceedings u/s 147/148

February 15, 2023 7662 Views 0 comment Print

Learn how section 147/148 of the Income Tax Act gives plenary powers to reopen concluded assessments. Find out why ‘Reasons to Believe’ is the foundation stone of proceedings u/s 147/148 and what makes it different from ‘Reason to Suspect’

Computation & Maintenance of Annual Average Export obligation under EPCG Scheme

February 15, 2023 8664 Views 0 comment Print

EPCG authorization/scheme can be very gainful when used properly. Learn how to compute and maintain Average Export Obligation under this scheme.​

Special Additional Excise Duty on Diesel reduced to Rs. 1 per litre

February 15, 2023 1803 Views 0 comment Print

Vide Notification No. 09/2023-Central Excise, Dated 15th February, 2023 Government reduces Special Additional Excise Duty on Diesel to Rs. 1.00 per litre with effect from 16th day of February, 2023 from existing Rs. 6 per litre. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 09/2023-Central Excise | Dated 15th February, 2023 […]

SAED on production of Petroleum Crude & export of Aviation turbine Fuel reduced

February 15, 2023 315 Views 0 comment Print

Government reduces Special Additional Excise Duty from 16th day of February, 2023 on production of Petroleum Crude to Rs. 4350 per tonne from 5050 per tonne and to Rs. 1.50  per litre from Rs. 6.00 per litre on export of Aviation turbine Fuel vide Notification No. 08/2023-Central Excise,  Dated 15th February, 2023 GOVERNMENT OF INDIA […]

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