Given the heterogeneity in the cooperative sector, a tiered regulatory framework is required to balance the spirit of mutuality and co-operation more prevalent in banks of smaller sizes and those with limited area of operation vis-à-vis the growth ambitions of the large-sized UCBs to spread their area of operation and undertake more complex business activities.
Reserve Bank hereby notifies Modified Mumbai Interbank Forward Outright Rate (MMIFOR) administered by Financial Benchmarks India Pvt. Ltd. (FBIL) as a ‘significant benchmark’.
Special Additional Excise Duty (SAED) on production of Petroleum Crude reduced to Rs. 4900 per tonne vide Notification No. 40/2022-Central Excise Dated 1st December, 2022 GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) New Delhi, Notification No. 40/2022-Central Excise Dated 1st December, 2022 G.S.R.860(E).–In exercise of the powers conferred by section 5A of the […]
In re Ranchi Smart City Corporation Limited (GST AAR Jharkhand) Q.1: Applicability of GST on transfer of leasehold land which includes other services such as Electricity Line, Water Line, Drainage Line, Road, Sewerage Line etc. like in case of plotted development., Ans: As discussed in forging paras, the leasing of property by RSCCL, if covered under the […]
We are in agreement with the submission of learned counsel for the petitioner in this behalf that it was not within the domain of judicial review for the learned judge to have himself exercised the power of remission.
HC held that request for cancellation was only a simple and inadvertent error. The impugned order is set aside and the petitioner is permitted to make an application seeking restoration of registration, setting out the correct details of the principal and additional places of business.
CENVAT credit cannot be denied on Chartered Accountant services for mere mention of Individual name after company name and Mere allegation in SCN cannot be a ground to deny Credit on bank charges
The description of export item and import item of SION J-222 in Textile Product Group stands amended with immediate effect vide Public Notice No. 37/2015-2020-DGFT Dated 25th November, 2022. Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade Vanijya Bhawan, New Delhi Public Notice No. 37/2015-2020-DGFT Dated 25th November, […]
IRDAI has committed to enable ‘Insurance for All’ by 2047, where every citizen has an appropriate life, health and property insurance cover and every enterprise is supported by appropriate insurance solutions and also to make Indian insurance sector globally attractive.
The Central Government released an amount of Rs. 17,000 crore to States/UTs on 24.11.2022 towards the balance GST compensation for the period April to June, 2022 (State-wise details as per Table below). The total amount of compensation released to the States/UTs so far, including the aforesaid amount, during the year 2022-23 is Rs.1,15,662 crore. This […]
