Ministry of Commerce & Industry Industrial parks and industries in the country Posted On: 05 FEB 2021 Industrial Park Scheme-2002, applicable for any undertaking which develops and operates, or, maintains and operates, an Industrial Park for the period beginning 1st day of April, 1997 and ending 31st day of March, 2006, was notified by the Department for […]
Budget 2021 incentivizes the incorporation of One Person Companies (OPCs) by amending the Companies (Incorporation) Rules to allow OPCs to grow without any restrictions on paid up capital and turnover, allowing their conversion into any other type of company at any time, reducing the residency limit for an Indian citizen to set up an OPC from 182 days to 120 days and also allow Non-Resident Indians (NRIs) to incorporate OPCs in India.
UCBs shall not make, provide or renew any loans and advances or extend any other financial accommodation to or on behalf of their directors or their relatives, or to the firms / companies / concerns in which the directors or their relatives are interested
Whether our understanding, that no separate registration under the IA Regulations is required to render investment advice to general investors as we are also a fund manager of an AIF apart from being registered as a Portfolio Manager, is correct? Whether we are required to comply with general obligations and responsibilities under Chapter III of […]
The Central Government is working on setting up a Single Window System for clearances and approvals of industry in the country. Despite the presence of several IT platforms for investing in India such as in departments of the Government of India and State Single Window Clearances, investors need to visit multiple platforms to gather information and obtain clearances from different stakeholders.
Field formations have been directed to strictly adhere to the aspect of limitation in filing appeals/ petitions before Courts/ Tribunal. CBEC Instruction vide F.No.1080/DLA/50/Tech/Monitoring/SLPs-Appeals/16 dated 01.06.2017 provides timelines for filing SLP and Civil Appeals.
Office Order No. 30 of 2021 Post facto approval of the Competent Authority is hereby conveyed for extension of term of ad-hoc appointment of the following officers to the grade of Assistant Commissioner of Income Tax from 12.11.2020 to 11.11.2021 or until further orders:-
One time waiver of Custom Duty as well as inspection requirement in case of de-bonding of IT/ ITeS units in SEZs and exemption on filing of BOE for goods sold by IT/ITeS SEZ unit which were initially procured on payment of duty and not used for authorised operations.
Tariff Notification No. 15/2021-Customs (N.T.) dated 5th February, 2021 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi, the 5th February, 2021 Notification No. 15/2021-CUSTOMS (N.T.) S.O. 562(E).—In exercise of […]
Basel III Capital Regulations’, shall continue to apply till the CCB attains the level of 2.5 per cent on October 1, 2021. The pre-specified trigger for loss absorption through conversion / write-down of Additional Tier 1 instruments (Perpetual Non-Convertible Preference Shares and Perpetual Debt Instruments), shall remain at 5.5 per cent of risk weighted assets (RWAs) and will rise to 6.125 per cent of RWAs from October 1, 2021.
