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Cessation of ‘Aditya Birla Idea Payments Bank Ltd’ as a banking company

September 3, 2020 471 Views 0 comment Print

We advise that the Aditya Birla Idea Payments Bank Limited has ceased to be a banking company within the meaning of the Banking Regulation Act, 1949 with effect from July 28, 2020

Cessation of ‘Westpac Banking Corporation’ as a banking company

September 3, 2020 459 Views 0 comment Print

We advise that the Westpac Banking Corporation has ceased to be a banking company within the meaning of the Banking Regulation Act, 1949 vide Notification DOR.IBD.No.100/23.13.138/2020-21 dated July 18, 2020

Exclusion of ‘Westpac Banking Corporation’ from Second Schedule to RBI Act, 1934

September 3, 2020 369 Views 0 comment Print

We advise that the Westpac Banking Corporation has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 vide Notification DOR.IBD.No.99/23.13.138/2020-21 dated July 18, 2020,

Government Blocks 118 Mobile Apps

September 2, 2020 669 Views 0 comment Print

The Ministry of Electronics and Information Technology, Government of India invoking it’s power under section 69A of the Information Technology Act read with the relevant provisions of the Information Technology (Procedure and Safeguards for Blocking of Access of Information by Public) Rules 2009 and in view of the emergent nature of threats has decided to block 118 mobile apps (see Appendix) since in view of information available they are engaged in activities which is prejudicial to sovereignty and integrity of India, defence of India, security of state and public order.

Segregation of portfolio due to COVID-19 pandemic- Provision Reviewed

September 2, 2020 837 Views 0 comment Print

Date of proposal for restructuring of debt received by AMCs shall be treated as the trigger date for the purpose of creation of segregated portfolio.

Filing Form GSTR-4 Annual Return by Composition Taxpayers

September 1, 2020 32256 Views 0 comment Print

Filing Form GSTR-4 Annual Return by Composition Taxpayers on GST Portal 1. What is Form GSTR-4 Annual Return: – With effect from 1st April, 2019, all Composition Taxpayers are required to file Form GSTR-4 Annual Return, on annual basis, for each financial year. 2. Who are required to file Form GSTR-4 Annual Return: All registered […]

SFT Report Generation Utility Quick Reference Guide

September 1, 2020 40398 Views 0 comment Print

Downloading the utility 1. Go to e-filing portal at https:iincometaxindiaefiling.gov.in/ 2. Click on the Forms (other than ITR) tab under the Downloads 3. Click on the Download link against Form 61A to download the Utility. It allows the user to save the file in the location selected by the user.

Tamil Nadu CM rejects GST Compensation Options suggested by Center

August 31, 2020 717 Views 0 comment Print

As you are aware one of the most crucial fiscal issues facing the nation currently is the payment of compensation on account of the short fall in revenue post implementation of GST. Most States, and in particular Tamil Nadu, agreed to the implementation of GST and to support the legislation on the basis of the unequivocal commitment given by the Government of India to compensate the States for any revenue loss. Such compensation is clearly assured in the 101st Constitution Amendment Act and in the GST (Compensation to States) Act, 2017.

Validity period of SCOMET export authorizations for transfer of technology/software

August 31, 2020 1395 Views 0 comment Print

Henceforth, validity period of SCOMET export authorizations for transfer of technology/software under any category of SCOMET shall be twenty four months only or validity period of export authorization allowed in terms of Para 2.16 of HBP of FTP 2015-20. No subsequent revalidation in such authorizations shall be permissible.

Procedure for applications for export of N-95/FFP2 Masks

August 31, 2020 744 Views 0 comment Print

The application procedure and criteria for export of N-95/FFP2 masks (including for samples) is outlined below: I. Export of only 1 crore total units of ‘N-95/FFP2 Masks’ will be allowed for the month of August and September.

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