SEBI updates valuation norms for repo transactions by Mutual Funds, mandating mark-to-market basis for repos with a tenor of up to 30 days, effective from January 2025.
DGFT updates ITC (HS) 2022 Import Policy in sync with Finance Act 2024. Key amendments to import policy and HS codes effective immediately.
Summary: As per the Finance Act 2024, the long-term capital gains (LTCG) tax on listed securities has been raised from 10% to 12.5% for transactions carried out from the assessment year 2024-25. This change applies to securities like listed shares and equity-oriented mutual funds. For the assessment year 2024-25, the exemption limit for LTCG on […]
Calcutta High Court orders restoration of GST registration for petitioner after payment of due revenue and penalty within 45 days.
Allahabad HC quashes GST order due to delay in uploading notice under the wrong tab, ruling that the petitioner did not get a fair chance to respond.
The assessee is an individual, engaged in the business as Kerosene dealers in Rajahmundry. The case of the assessee was selected for scrutiny under CASS “Limited Category” to verify the sources for “Cash deposits during demonetisation period”.
Supreme Court held that a driver holding a license for Light Motor Vehicle (LMV) class, under Section 10(2)(d) for vehicles with a gross vehicle weight under 7,500 kg, is permitted to operate a ‘Transport Vehicle’ without needing additional authorization under Section 10(2)(e) of the MV Act.
ICAI’s Disciplinary Committee has reprimanded CA Puneet Jain for professional misconduct related to a company document, citing digital signature responsibility.
Supreme Court held that eligibility criteria, notified at the commencement of the recruitment process, cannot be changed midway through the recruitment process unless the extant Rules so permit.
The ICAI Disciplinary Committee has found CA Subhash Chandra Sharma guilty of professional misconduct and ordered a one-month removal from the register.
