Sections 25 and 35 of the Insolvency and Bankruptcy Code, 2016 (Code) enumerate the duties of a Resolution Professional (RP) and a Liquidator, respectively. These duties include certain actions in respect of avoidance transactions (preferential transactions, undervalued transactions, extortionate transactions, and fraudulent trading).
Termination of Anti-Circumvention investigation concerning alleged circumvention of anti-dumping duty imposed on the imports of Polytetrafluoroethylene (PTFE) originating in or exported from Russia by imports of Polytetrafluoroethylene (PTFE) exported from Korea RP.
The Import policy of metallic scrap and waste requires importers to furnish Pre- shipment Inspection Certificate (PSIC) for customs clearance of metal scrap and waste imports in accordance with the conditions laid out in Para 2.54 of Handbook of Procedures, 2015-2020. It has come to the notice of DGFT that importers have been finding it difficult to submit the original copy of PSIC document due to the prevailing situations during COVID- 19 related lock down.
New Functionality Return- Filing Form GSTR-3B, through EVC ♣ The taxpayers who are required to mandatorily use DSC to file Form GSTR-3B, now have an option to file it using EVC. ♣ This is applicable to for all categories of Companies (including Limited Liability Partnerships and PSUs), registered under Companies Act, 2013. ♣ This option […]
Using the digital payment infrastructure, around 39 crore poor people received financial assistance of Rs 34,800 crore under the Pradhan Mantri Garib Kalyan Package (PMGKP) as on 5th May,2020, announced by Union Finance Minister Smt Nirmala Sitharaman on 26th March,2020 to protect them from the impact of the lockdown due to COVID 19.
Exposure Draft Guidance Note on Accounting for Share-based Payments (Last date of comments: June 4, 2020) Research Committee of the Institute of Chartered Accountants of India invites comments on any aspect of this Exposure Draft of the ‘Guidance Note on Accounting for Share-based Payments’. Comments are most helpful if they indicate the specific paragraph or […]
Specific Considerations while conducting Distance Audit / Remote Audit / Online Audit of Bank Branch under current Covid-19 situation Dear Professional Colleagues, We hope this communique will find you safe and healthy. We are sure that by now most of us must have received appointment letters for statutory bank branch audits indicating branches to be […]
CBIC notifies Rate of Exchange of Foreign Currencies against India Rupees wef 07.05.2020 vide Notification No. 41/2020-Customs (N.T.), Dated: 6th May, 2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 41/2020-Customs (N.T.) New Delhi, dated the 6th May, 2020 16 Vaisakha 1942 (SAKA) In […]
Seeks to amend notification No. 05/2019-Central Excise dated 6th July, 2019 so as to increase effective rate of Special Additional Excise Duty (SAED) on petrol by Rs. 2 per lire and on diesel by Rs. 5 per litre. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 5/2020-Central Excise New Delhi, the 5th […]
In re M/s. Nurserymen Cooperative Society Ltd (GST AAAR Karnataka) Appellant has received contract from Government departments like BBMP and KSRTC for undertaking gardening and landscaping activities. In order to execute the work, the Appellant has engaged sub-contractors. The sub-contractors bill the Appellant for the gardening and landscaping work done at the government departments. The […]
