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AAR Maharashtra allows I-Stron Corporation Private Limited to withdraw application

May 27, 2022 351 Views 0 comment Print

The Application in GST ARA Form No. 01 of M/s. 1-STRON CORPORATION PRIVATE LIMITED, vide reference Online ARA Application Dated 03.09.2019 is disposed of, as being withdrawn voluntarily and unconditionally.

DRI seizes 52 kg Cocaine worth over Rs 500 crore under Operation Namkeen

May 27, 2022 819 Views 0 comment Print

Continuing its streak of significant seizures, the Directorate of Revenue Intelligence (DRI) has recovered 52 kg of cocaine, estimated to be valued at over Rs 500 crore in the international illicit market, from an import consignment. On the basis of extensive data analysis and field surveillance, intelligence was developed by DRI that certain consignments being imported from Iran were likely to […]

Modifications in definition of Critical Illnesses prescribed in Guidelines on Standardization in Health Insurance

May 27, 2022 1416 Views 0 comment Print

Prescribing nomenclature and procedure for 22 critical illnesses that may form part of health insurance policies. Insurers were mandated to use the definitions without exception wherever the products cover any of the Critical Illnesses specified in the guidelines.

NAA directs ‘Jay Ambe Developers’ to pass on ITC benefit to Homebuyers

May 27, 2022 816 Views 0 comment Print

Jigar R. Shah Vs Jay Ambe Developers (National Anti-Profiteering Authority) It is clear from the plain reading of Section 171(1) that, it deals with two situations:- one relating to the passing on the benefit of reduction in the rate of tax and the second pertaining to the passing on the benefit of the ITC. On […]

IRDAI directs insurers  to comply with awards passed by Insurance Ombudsman

May 26, 2022 1434 Views 0 comment Print

Insurers were cautioned that non-compliance of awards passed by Insurance Ombudsman within the prescribed timelines would be viewed very seriously.

DoCA cautions Restaurants on forced charging of “Service Charges” on consumers

May 26, 2022 627 Views 0 comment Print

It has been pointed out in the letter that the consumers are forced to pay service charge, often fixed at arbitrarily high rates by restaurants. Consumers are also being falsely misled on the legality of such charges and harassed by restaurants on making a request to remove such charges from the bill amount.

Need to develop Jewelary Park in different States: CAIT

May 26, 2022 306 Views 0 comment Print

To develop best quality Jewelary for production of world class articles, Jewelary park will enhance global competitive- ness & capable to invite foreign investors and shall also widen the scope of employment & entrepreneurship in India.

Bharat Bill Payment System – Amendment to guidelines

May 26, 2022 783 Views 0 comment Print

As announced in the Statement on Development and Regulatory Policies dated April 08, 2022, the minimum net-worth requirement for non-bank Bharat Bill Payment Operating Units (BBPOUs) stands reduced to ₹25 crore. The BBPS guidelines have been suitably amended.

IFSCA recognises NSE IFSC Clearing Corporation & NSE IFSC Limited

May 25, 2022 630 Views 0 comment Print

INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY NOTIFICATION Gandhinagar, 25th May, 2022 No. IFSCA/2020-21/NICCL/245.—The International Financial Services Centres Authority, having considered the application for grant of recognition under Regulation 12 of the International Financial Service Centres Authority (Market Infrastructure Institutions) Regulations, 2021 by NSE IFSC Clearing Corporation Limited, Unit No. 1202, Brigade International Financial Centre, 12th Floor, […]

Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022

May 25, 2022 5208 Views 0 comment Print

Notification issued pertaining to base premium for third party insurance for unlimited liability The Ministry of Road Transport and Highways, in consultation with the Insurance Regulatory and Development Authority of India, has published Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022 vide notification dated 25.05.2022. The rules shall come into force on […]

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