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IFSCA clarifies on disclosure of dealing in securities by Directors & KMP

November 30, 2021 1239 Views 0 comment Print

Clause 5 (c), clause 9 and clause 10 of the circular pertain to disclosure of dealing in securities by the Directors and Key Management Personnel. It is hereby clarified that the aforementioned clauses will only be applicable with respect to dealings in securities in GIFT-IFSC.

Limited Insolvency Examination w.e.f 1st March 2022

November 30, 2021 10020 Views 2 comments Print

The Insolvency and Bankruptcy Board of India hereby publishes the syllabus and details of the Limited Insolvency Examination (Examination) under regulation 3 (3) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 for the examination to be conducted from 1st March 2022.

Govt notifies new chairperson & 2 members in ICAI Quality Review Board

November 30, 2021 1161 Views 0 comment Print

Section 28A of the Chartered Accountants Act, 1949 deals with Establishment of ICAI Quality Review Board. In accordance of the provisions of section 28A  Central Government by notification No. G.S.R. 843(E) dated 30th November, 2021 appoints Ms. Shefali Shah as new Chairman of  ICAI Quality Review Board and Shri K. Saravanan and Ms. Ritika Bhatia […]

Review of Input Tax Credit blocked under Rule 86A by field formations

November 30, 2021 2172 Views 0 comment Print

It is brought to your notice that Rule 86A of the HGST Rules, 2017, provides for disallowing debit of ITC from Electronic Credit Ledger by a registered person under specific circumstances.

DRI busts iPhone smuggling Racket

November 30, 2021 1197 Views 0 comment Print

iPhone 13 models went for sale in India from September 2021 onwards, with a base price of Rs. 70,000/-, and some of the higher-end models costing up to Rs. 1,80,000/-. Import of mobile phones into India attracts effective Customs Duty of around 44%.

New Guidelines for International Arrivals in India

November 30, 2021 936 Views 0 comment Print

This document provides protocols to be complied with international travellers as well those to be followed by airlines, points of entry (airports, seaports and land border) for risk profiling of passengers.

RBI supersedes Board of Directors of ‘Reliance Capital Ltd’

November 29, 2021 1008 Views 0 comment Print

Reserve Bank has today superseded the Board of Directors of M/s Reliance Capital Ltd (RCL) in view of the defaults by RCL in meeting the various payment obligations to its creditors and serious governance concerns which the Board has not been able to address effectively.

Custom duty refund due to re-assessment of Bills of Entry cannot be denied merely for not filing appeal

November 28, 2021 4119 Views 0 comment Print

Brightpoint India Pvt. Ltd. Vs Commissioner of Customs Mumbai (Air Cargo Import) (CESTAT Mumbai) The Revenue against the sanction of the refund which arose out of re-assessment of the Bills of Entry, filed appeal before the Commissioner (Appeals), and the Commissioner (Appeals) accepted the appeal by holding that since the appellants have not filed appeals […]

Govt issued advisory to States in view of new Covid variant Omicron

November 27, 2021 1710 Views 0 comment Print

As a proactive step, Government has already placed countries where this VoC has been found in the category of ‘At-Risk’ countries for additional follow up measures of international travelers coming into India from these countries.

ICAI takes disciplinary action against 17 Chartered Accountants

November 26, 2021 26181 Views 1 comment Print

ICAI takes disciplinary action against 17 Chartered Accountants vide 17 notifications issued on 26th November 2021. THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) NOTIFICATION New Delhi, the 26th November, 2021 (CHARTERED ACCOUNTANTS) No. PPR/P/104/15-DD/77/INF/15-BOD/402/17.— In terms of the provisions of Section 21A(3) of the Chartered Accountants Act, 1949 […]

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