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NFRA imposes penalty of Rs. 5 Lakh on Auditor of Coffee Day group company

April 13, 2023 2754 Views 0 comment Print

Imposition of a monetary penalty of Rs Five Lakhs only upon CA Lavitha Shetty. In addition, CA Lavitha Shetty is debarred for a period of five years from being appointed as an auditor or internal auditor or from undertaking any audit in respect of financial statements or internal audit of the functions and activities of any company or body corporate

Form No.10B filed late- Section 11 exemption denied – Date extended – HC grants stay

April 12, 2023 426 Views 0 comment Print

Grievance of petitioner is that benefit of Section 11 of Income Tax Act has not been extended to petitioner, which is a Charitable Society. The reason stated is that they failed to submit audit reports in time.

Customs Waiver of Interest from 11th April, 2023 to 13th April, 2023

April 11, 2023 2637 Views 0 comment Print

CBIC waives whole of interest payable under sub-section (2) of section 47 of the said Act, for the period from 11th April, 2023 upto and including the 13th April, 2023, in respect of such goods, where the payment of import duty is to be made from the amount available in electronic cash ledger.

Mere suspicion cannot be sufficient evidence to invoke Section 67 of CGST Act 2017

April 11, 2023 2964 Views 0 comment Print

Tvl. Rising International Co. Vs. Commissioner of Central GST and Central Excise (Madras High Court) M/s.Rising International Company (legal name, Kailashkumar), Madurai, the petitioner herein, is a dealer registered under the Goods and Services Tax Act. It imports toys from China. It also purchases goods from Delhi-based dealers. The dealer’s specific stand is that returns […]

IFSCA (Fund Management) (Amendment) Regulations, 2023

April 11, 2023 1410 Views 0 comment Print

These regulations may be called the International Financial Services Centres Authority (Fund Management) (Amendment) Regulations, 2023.

IFSCA (Re-insurance) Regulations, 2023

April 11, 2023 1329 Views 0 comment Print

These regulations may be called the International Financial Services Centre Authority (Re-insurance) Regulations, 2023.

Transmission of Shipping Bills from Systems’ backend to DGFT for MEIS benefits

April 11, 2023 2337 Views 0 comment Print

This Advisory is being issued to handle the post EGM amendment of shipping bill cases of MEIS scheme (since discontinued from January 2021).

Extension of Validity of ANFs & Appendices issued under FTP (2015-20)

April 11, 2023 927 Views 0 comment Print

DGFT extends validity of ANFs & Appendices notified under FTP (2015­20) till 31st May, 2023 or up to the date on which new ANFs & Appendices are notified

Additional affirmations by Practicing Company Secretaries in ASCR

April 10, 2023 6882 Views 0 comment Print

Compliances of the listed entity are in accordance with the applicable Secretarial Standards (SS) issued by the Institute of Company Secretaries India (ICSI)

Notification No. 27/2023-Customs (N.T.) Dated: 10.04.2023

April 10, 2023 4227 Views 0 comment Print

CBIC amends notification No. 12/97-Customs (NT) dated the 2nd April, 1997 vide Notification  No. 27/2023-Customs (N.T.), Dated: 10.04.2023 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification  No. 27/2023-Customs (N.T.) | Dated: 10th April, 2023 G.S.R.. 283(E).—In exercise of the powers conferred by clause (aa) of sub-section (1) read with […]

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