DCIT Vs Allsec Technologies Ltd (ITAT Chennai) ITAT held that the assessee cannot be expected to deduct TDS on payment made to non-residents on the basis of subsequent amendment to the law with retrospective effect from earlier date, because the assessee cannot foresee the amendment and deduct TDS and hence, we are of the considered […]
Commissioner of Customs (Import) Vs Amazon Seller Services Pvt Ltd (Delhi High Court) Inordinate delay in the advance ruling attaining finality would frustrate the scheme and the object of providing such advance rulings. Thus, keeping in view the express language of the proviso to Section 28KA of the Customs Act as well as the nature […]
N R Agarwal Industries LTD Vs C.C.E. & S.T. (CESTAT Ahmedabad) Limited issue involved is whether the appellant is eligible for Cenvat credit in respect of Rent-a-Cab service. Both the lower authorities have denied the Cenvat credit on the ground that the said service is excluded for allowing the Cenvat credit as per exclusion Clause […]
SEBI to provide a common platform for stakeholders to discuss the concerns of the issuers of Municipal Debt Securities, the requirements of investors, the extant regulatory framework and to recommend measures to increase awareness of and improve traction in the market for Municipal Debt Securities.
COVID-19 relief for sectors! Indian government relaxes EPCG Scheme for Hotel, Healthcare, and Educational sectors. No average export obligation for 2020-21 and 2021-22, and option to extend the obligation period.
Non-Profit organizations (NPOs) have grown by leaps and bounds with larger magnitude. In view of their growing significance, ensuring accountability and transparency for NPOs becomes important. Sound financial reporting aids in ensuring accountability and transparency for NPOs.
Centre releases endorsement guidelines for Celebs and Social Media Influencers Disclosures must be prominently and clearly displayed in the endorsement Use terms ‘advertisement’, ‘sponsored’ or ‘paid promotion’ for endorsements: Guidelines The Department of Consumer Affairs under Ministry of Consumer Affairs, Food and Public Distribution released a guide ‘Endorsements Know-hows!’ for celebrities, influencers and virtual influencers on […]
To strengthen functioning of IBC, changes to Code are being considered in relation to admission of corporate insolvency resolution process (CHIP) applications, streamlining the insolvency resolution process, recasting the liquidation process, and role of service providers under Code.
MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 20th January, 2023 G.S.R. 35(E).—In exercise of the powers conferred by sub-section (1) of section 406 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules, further to amend the Nidhi Rules, […]
One-time relaxation from maintaining Average Export Obligation and option to avail extension in Export Obligation Period for specified EPCG authorizations is provided on account of COVID-19 pandemic, subject to fulfillment of conditions. This is in addition to EO extensions facility (upon payment of the composition fees) already provided in FTP/HBP. GOVERNMENT OF INDIA MINISTRY OF […]
