ICSI seeks an extension for private companies to comply with new DEMAT rules, citing concerns over costs, delays, and regulatory challenges.
Madras High Court held that GST is not leviable on Ocean Freight Services as per Supreme Court judgement and relevant notification. Thus, any amount collected by department as GST on Ocean Freight Services needs to be refunded back.
ITAT Delhi held that bona fide error cannot be basis of imposition of penalty and hence imposition of penalty under section 270A of the Income Tax Act rightly deleted by First Appellate Authority.
ITAT Bangalore held that imposition of penalty under section 270A of the Income Tax Act on account of underreporting of income not justified as failing to furnish income tax return was bona fide.
MCA amends Companies Rules 2016 with new provisions on mergers and amalgamations of foreign holding companies with Indian subsidiaries, effective from 17th September 2024.
The Ministry of Corporate Affairs has updated the IEPF rules to simplify the process for investors to claim lost or unclaimed securities. The amendments include changes to documentation requirements and claim thresholds.
The Ministry of Corporate Affairs amends Companies (Ind AS) Rules, introducing new leaseback regulations. Effective from 9th September 2024. Learn the key updates here.
NFRA penalizes CA Santosh Deshmukh ₹5L & 1-year debarment for audit lapses in Sanwaria Consumer Ltd’s FY 2017-18 audit. Key audit failures include inventory valuation.
BRICS AEO MRA signed at Moscow, boosting customs cooperation. CBIC’s X-MAS aids in Rs 430 cr recovery; Thane CGST exposes Rs 75 cr ITC fraud; CGST officers save 200 lives.
DPC Social Benefits Nidhi Limited faces a penalty of ₹20,000 for non-compliance with Rule 14(6) under the Companies Act, 2013, as adjudicated by ROC Uttarakhand.
