IFSCA Guidelines on Factoring and Forfaiting of Receivables shall be applicable to Finance Companies / Finance Units registered with the Authority under regulation 3 of the Regulations that are intending to undertake the activity of Factoring and Forfaiting of receivables.
M. Ajit Kumar Chairman Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs North Block, New Delhi-110001 Tel. No. +91-11-23092849, Fax : +91-11-23092890 E-mail : [email protected] D.O. No. 83/CH(IC)/2020 Date: 16th August 2021 Dear Colleague The week that went by, culminated on a festive note with all formations […]
ACIT Vs Solvay Pharma India Ltd (ITAT Mumbai) We observe that the CBDT Circular dated 1-8-2012 (supra) in its clarification has enlarged the scope and applicability of ‘Indian Medical Council Regulation 2002’ by making it applicable to the pharmaceutical companies or allied health care sector industries. Such an enlargement of scope of MCI regulation to […]
In re Efkon India Private Limited (GST AAR Telangana) In the reference 1st cited, M/s. Efkon India Private Limited, has sought certain clarifications in Advance Ruling. Through the reference 2nd cited, Assistant Commissioner(ST), Punjagutta Circle, were requested to go through the attachment and inform the above pendency of the issue and also requested to offer […]
It is for the NCLT to decide whether the matter before it ought to be decided or not, whether any injunction operates or impedes the progress of the matter before it and the parties cannot be asked to approach this Court for this Court to hand-hold the NCLT and guide it through its proceedings.
Doctor Madan Lal Atri Charitable Trust Vs CIT Exmp. (ITAT Agra) The purpose of grant of registration is to ensure that the assessee is primarily into charitable activities as defined undersection 2(15) of the Act and for those purposes, Commissioner exemption should make enquiries only. The Commissioner exemption should not use this opportunity to extend […]
M/s. Sivamurugan Chit Fund (P) Limited Vs Commissioner of G.S.T. and Central Excise (CESTAT Chennai) There is no doubt that Section 11B ibid. prescribes the period of limitation for filing the refund claim, but admittedly here, the application for refund was filed on 19.01.2018; the date of the judgement of the Hon’ble Supreme Court is […]
Bombay Chartered Accountant’s Society has made a representation to CBDT Chairman and draw his attention towards the difficulties faced, in recent times, by resident taxpayers, in claiming Foreign Tax Credit (FTC) for their income abroad, while filing their return of Income in India. Full Text of their representation is as follows:- Bombay Chartered Accountant’s Society […]
With a view to further enhancing ‘ease of doing banking business’, the Authority is hereby issuing the IFSCA Banking Handbook (`Handbook’) which will act as a compendium of all the detailed directions of the Authority to the IBUs operating in GIFT IFSC and to the Banking Companies incorporated in India or outside India looking to set up an IBU as a branch in GIFT
Both in case of non-revenue bearing amendments like correcting any spelling mistakes, LCL/FCL, change in Container No. etc. or revenue bearing amendments, the Assessing Groups shall not call for physical documents, and amendment approval should be decided on the basis of supporting documents uploaded on E-sanchit.
