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Archive: 19 June 2023

Posts in 19 June 2023

SEBI Notifies Second Amendment Regulations 2023 with Major Changes in LODRs

June 19, 2023 3522 Views 0 comment Print

SEBI’s Second Amendment Regulations 2023 bring major changes to LODRs, impacting directors’ permanency, KMP vacancies, materiality, cyber security disclosures, and more. Stay updated!

The Employees Provident Fund Act – An Introduction

June 19, 2023 5850 Views 1 comment Print

Employees’ Provident Fund came into existence with the promulgation of the Employees’ Provident Funds Ordinance on the 15th November, 1951 and later it was replaced by the Employees’ Provident Funds Act, 1952.

Crackdown on Fake Invoicing Racket in Scraps Trade: Mastermind Arrested for Issuing Fake Invoices Worth Rs.97.87 Crores

June 19, 2023 1203 Views 0 comment Print

Major crackdown on a fake invoicing racket in scraps trade. DGGI, Coimbatore, arrested mastermind for issuing fake invoices worth Rs.97.87 crores and availing fake ITC of Rs.13 crores.

In absence of ‘Proofs of Receipt’ it is concluded that notices were never served

June 19, 2023 960 Views 0 comment Print

NCLAT Delhi held that Notices were never served on the Petitioner/Respondent as there are no ‘Proofs of Receipt’, filed by the Appellant.

Inter state movement of demo vehicles between distinct persons attracts GST

June 19, 2023 1152 Views 0 comment Print

In Kia Motors India Pvt. Ltd. vs State of Madhya Pradesh, the Madhya Pradesh High Court dismissed the writ, affirming GST on inter-state transport of demo vehicles between distinct persons, emphasizing compliance with CGST Act and Rules.

Delhi HC Allows Operation of Accounts Provisionally Attached for Over a Year under GST Act

June 19, 2023 312 Views 0 comment Print

Explore the recent judgment by Delhi High Court where Balaji Enterprises regained control over bank accounts provisionally attached under the CGST Act for over a year. Court’s interpretation of Section 83 and its implications

Social Enterprise, Social Audit and Social Stock Exchange – 360 Degree Analysis

June 19, 2023 1653 Views 0 comment Print

Uncover the world of Social Enterprises, Social Audit, and the Social Stock Exchange with our comprehensive 360-degree analysis. Understand the role of Social Auditors in Social Enterprises listed on the Social Stock Exchange. Learn about eligibility criteria, the emergence of the Social Stock Exchange in India, and the objectives it aims to achieve.

Strong Growth in Direct Tax Collections for FY 2023-24; Refunds Surge by 30.13%

June 19, 2023 690 Views 0 comment Print

Ministry of Finance announces robust growth in direct tax collections for FY 2023-24, with a 12.73% increase in gross collections and a remarkable 30.13% surge in refunds.

Section 143(2) Notice: A Prerequisite for Income Tax Assessment in Limited scrutiny case

June 19, 2023 1284 Views 0 comment Print

Explore the Madras High Court judgment in Angusamy Gounder Subbu Rathinamun vs. Assistant Commissioner. Insights on Section 143(2) notice in income tax assessments.

SEBI Prohibits IIFL Securities from Onboarding New Clients for 2 Years

June 19, 2023 5733 Views 0 comment Print

Read the order issued by the Securities and Exchange Board of India (SEBI) under Section 12(3) of the SEBI Act, imposing a 2-year prohibition on IIFL Securities Limited (formerly India Infoline Limited) from taking up new clients as a stock broker. The order highlights the violations committed by IIFL and the corrective measures taken.

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