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NAA directs DGAP to further investigate alleged Profiteering by MRF Corp.

December 11, 2020 720 Views 0 comment Print

P. V. Narayanan Vs MRF Corp. Ltd. (NAA) The DGAP vide Para 15 of his Report dated 27.02.2020 has also stated that “as per the outward sales data submitted by the Noticee, it has been observed that approximately 90 products were not sold before 27.07.2018 and accordingly they are construed as new products launched by […]

GSTR-9 of FY 2019-20 is available now but without table 8A details

December 11, 2020 4464 Views 0 comment Print

As per information on GSTN website GSTR-9 of FY 2019-20 is available now for filing. Facility to file annual return in Form GSTR-9 for FY 2019-20 is now available. The Form is enabled for taxpayers whose table 8A computation has been completed. Computation of the table 8A of the said return for auto population from […]

GST compensation shortfall – 6th Instalment of Rs.6000 crore released

December 9, 2020 375 Views 0 comment Print

The Ministry of Finance has released the weekly instalment of Rs. 6,000 crore to the States to meet the GST compensation shortfall.  Out of this, an amount of Rs. 5,516.60 crore has been released to 23 States

RBI releases Draft Circular on Declaration of Dividend by NBFCs

December 9, 2020 816 Views 0 comment Print

Reserve Bank of India has released today the Draft Circular on Declaration of Dividend by NBFCs. Comments on the Draft Circular are invited from NBFCs, industry participants and other interested parties by December 24, 2020.

Complete Guide to GST Applicability on Housing Societies

December 9, 2020 105833 Views 28 comments Print

Central Goods and Services Tax is an indirect tax to be paid by end users for the consumption of goods and services. It was implemented in 2017 and it applies not just to individuals and corporations, but to housing societies as well, with exceptions, of course.

SC transfers petitions challenging validity of Tax Audit Limit of 60

December 9, 2020 18372 Views 0 comment Print

The Institute of Chartered Accountants of India & Ors. Vs. Shaji Poulose & Ors. (Supreme Court) In the writ petitions, which are sought to be transferred, writ petitioners have challenged validity of Chapter VI of Guidelines No.1‑CA(7)/02/2008 dated 08.08.2008 issued by the Council of petitioner Institute on the ground that the same is violative of […]

RBI announces launching of RTGS 24x7x365 wef 14.12.2020

December 9, 2020 7056 Views 0 comment Print

RBI announced that RTGS will be available round the clock on all days of the year. Accordingly, RTGS 24x7x365 will be launched with effect from 00:30 hours on December 14, 2020.

Major initiatives by ICSI for safe Conduct of CS Exam

December 8, 2020 2403 Views 0 comment Print

In view of the prevalent situation, ICSI is taking all possible measures for conducting CS Examinations scheduled to be held from 21st December to 30th December, 2020 in most safe and secured manner.

ICSI Opt-Out facility from December 2020 to June 2021 exam session

December 8, 2020 6948 Views 1 comment Print

The June, 2021 Session of Examinations shall commence from 1st June, 2021 and the time table for the same shall be hosted on the website separately. Due to the Covid-19 pandemic, the Institute has decided to give a one time option to the students to Opt Out from the December, 2020 Session of Examinations by carrying forward the credit of examination fee to June, 2021 session of examinations.

ESIC takes Initiatives for better medical services to Workers

December 8, 2020 810 Views 2 comments Print

Employees’ State Insurance Corporation (ESIC) during its 183rd Meeting held yesterday under the chairmanship of Shri Santosh Kumar Gangwar, Minister of State for Labour & Employment (I/C) has taken several significant decisions to improve its delivery of medical services and other benefits to workers.

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