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Mechanism for implementation of additional basic excise duty on sale of unblended petrol

October 31, 2022 1116 Views 0 comment Print

Mechanism for implementation of additional basic excise duty @Rs. 2 per litre levied on sale of unblended motor spirit (commonly known as petrol) – Circular No. 1085/06/2022-CX

ICEGATE Helpdesk for redressal of RoDTEP related grievances

October 31, 2022 2472 Views 0 comment Print

For resolution/examination of exporter grievances related to scroll out of shipping bills, generation of e-scrips and transfer of e-scrips under RoDTEP Scheme, mechanism of ICEGATE Helpdesk, which is available to the exporters 24*7 is functional.

SEBI cap number of ISINs maturing in a financial year for debt securities issued on private placement basis

October 31, 2022 2358 Views 0 comment Print

SEBI decided to further cap the number of ISINs maturing in a financial year for debt securities issued on private placement basis by modifying the said Chapter of the Operational Circular.

RERA – Transfer of common areas should be effected in favour of an Association of Apartment Owners: HC

October 29, 2022 5745 Views 0 comment Print

High COurt held that Registering Authority is bound to refuse to register an instrument for transfer of immovable property the ‘alienation or transfer of which is prohibited at any State and Central Act’. With the RERA Act mandating that the transfer of common areas should only be effected in favour of an Association of Apartment Owners

Non appointment of CS- Penalty reduced from Rs. 35 Lakh to Rs. 3.09 Lakh

October 28, 2022 6153 Views 0 comment Print

Registrar of Companies, Andhra Pradesh, had imposed a penalty of Rs. 35,00,000 on the company and its directors. However, considering the circumstances surrounding the failure to appoint a Company Secretary, the Regional Director has reduced the penalty to Rs. 1,69,820 for the company and Rs. 69,820 each for the Managing Director and CFO (total aggregating to Rs.3,09,460/-).

Multiple rejections of same PF claims for different reasons of rejections

October 28, 2022 1869 Views 0 comment Print

EPFO, HEAD OFFICE MINISTRY OF LABOUR & EMPLOYMENT, GOVERNMENT OF INDIA 14, BHIKAIJI CAMA PLACE, NEW DELHI 110066 www.epfindia.gov.in No: WSU/2022/195/Vigilance Matters/Multiple Rejections (E-53936) Date: 28.10.2022 To, All ACC-HQs Zones, All ACCs (Zones), All RPFCs & In Charge of Regions, All OICs of SROs Sub: Multiple rejections of same PF claims for different reasons of rejections-regarding […]

Cenvat credit cannot be denied without discussing nature & use of services in factory

October 28, 2022 1107 Views 0 comment Print

Shubhlakshmi Polysters Ltd. Vs C.C.E. (CESTAT Ahmedabad) CESTAT find that the adjudication authority in respect of disputed input services denied the credit without discussing the nature and use of the services in the Appellant’s factory. In order to find out the eligibility of a particular service as ‘input service’ under such definition, the nature and […]

CCI imposes a monetary penalty on Google in relation to its Play Store policies

October 28, 2022 5217 Views 0 comment Print

XYZ (Confidential) Vs Alphabet Inc. (Competition Commission of India) CCI imposes monetary penalty of Rs. 936.44 crore on Google for anti-competitive practices in relation to its Play Store policies The Competition Commission of India (CCI) today imposed a penalty of Rs. 936.44 crore on Google for abusing its dominant position with respect to its Play Store […]

ITAT upheld Section 68 addition for purchase from creditors of unknown location & who are not paid  

October 28, 2022 7005 Views 1 comment Print

ITO Vs Solid Machinery Co Pvt Ltd  (ITAT Mumbai) It was noticed that the assessee has made purchases of textile items, i.e. fabrics, worth Rs 19,22,05,946 from a large number of entities, and sold all these goods to three entities- namely Global Softech Limited, Ravi Raj Industries, and Tayal Energy Limited, for amounts aggregating to […]

IFSCA (AML/CFT and KYC) Guidelines, 2022

October 28, 2022 9105 Views 0 comment Print

International Financial Services Centres Authority (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022 i.e. IFSCA (AML/CFT and KYC) Guidelines, 2022. INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY NOTIFICATION Gandhinagar, the 28th October, 2022 IFSCA/2022-23/GN/GL001.—International Financial Services Centres Authority (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022 TABLE OF CONTENTS Sl. No. […]

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