25States/UTs have so far undertaken commensurate reduction of VAT on Petrol and diesel to give relief to the consumers. This follows the decision of the Government of India on 3rd November, 2021 to significantly reduce Central Excise Duty on Petrol and Diesel by Rs. 5 & Rs. 10 respectively. While doing so, the States were also urged to commensurately reduce VAT on Petrol and diesel to give relief to consumers.
In re NBCC (INDIA) Limited (GST AAR Odisha) The applicant in clause (a) [ as above) has discussed the findings of the Appellate Authority to: advance Ruling in its order no. 02/ODISHA-AAAR/Appeal/2020-21 dated 19.03.2021. In question no. (b), the applicant has sought clarification i.e. whether the classification and rate of taxes so determined by the […]
Seeks to impose ADD on measuring tapes originating in or exported from Singapore and Cambodia. Notification No. 67/2021-Customs (ADD),Dated: 12.11.2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 67/2021-Customs (ADD) New Delhi, the 12th November, 2021 G.S.R.794(E). – Whereas, in the matter of review of anti-dumping duty on imports of ‘Steel and […]
The Reserve Bank announces the activation of the RBI Retail Direct Scheme with effect from today. The Scheme was launched today in virtual mode by the Hon’ble Prime Minister, Shri Narendra Modi.
IFSCA clarified that the Authority does not mandate any Minimum Holding Period (MHP) requirement pertaining to sale/transfer of loan assets (by any means) by/to IBUs. IBUs undertaking such transactions are advised to undertake necessary due diligence and, if felt necessary, insert necessary provisions in the agreement to protect its interest such as for retention of a part of the asset or portfolio by the seller and/or minimum period of retention of the asset or portfolio by the seller prior to transfer (i.e.MHP). The IBUs may also put in place a policy for determining the MHP requirement for such transactions.
In a detailed representation sent today to Competition Commission of India (CCI), Confederation of All India Traders (CAIT) requested the CCI to revoke the approval given to Amazon in 2019 regarding the acquisition of the Future Group. Confederation of All India Traders (CAIT) Ref. No.: 3198/1/50 08th November, 2021 Shri Ashok Kumar Gupta, Chairman, Competition […]
Recognition to Company Secretary in Practice to provide Certificate of Compliance to RTAs The Institute of Company Secretaries of India has been continually endeavouring to open new doors of opportunities for its members. In pursuance of its initiatives, the Institute has been making representations and sending its views and suggestions on draft rules, regulations, policies […]
In re Rotary Club of Bombay Peninsula (GST AAR Maharashtra) The Application in GST ARA Form No. 01 of M/s. Rotary Club of Bombay Peninsula, vide reference ARA No. 63 dated 28.12.2020 is disposed of as being withdrawn voluntarily and unconditionally. FULL TEXT OF THE ORDER OF AUTHORITY OF ADVANCE RULING, MAHARASHTRA PROCEEDINGS (Under Section 98 […]
In re Kasturba Health Society (GST AAR Maharashtra) Question (i): Whether the applicant, a Charitable Society having the main object and factually engaged in imparting Medical Education, satisfying all the criteria of ‘Educational Institution’, can be said to be engaged in the business so as to cast an obligation upon it to comply with the […]
In view of the satisfactory compliance demonstrated by Diners Club International Ltd. with the Reserve Bank of India (RBI) circular dated April 6, 2018 on Storage of Payment System Data, the restrictions imposed, vide order dated April 23, 2021, on on-boarding of fresh domestic customers have been lifted with immediate effect.
