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Income Tax Dept searches leading construction groups of Karnataka

November 3, 2021 681 Views 0 comment Print

Income Tax Department carried out search and seizure operations on one of the leading groups of Karnataka, engaged in the civil construction of roads and irrigation projects, on 28.10.2021 at various premises located in North Karnataka.

Dealing in unregulated products by SEBI registered Debenture Trustees

November 3, 2021 546 Views 0 comment Print

It has come to the notice of SEBI that some registered Debenture Trustees are undertaking activities related to unregulated products such as acting as a trustee for digital gold.

Technical guidance on how to appear for CSEET

November 3, 2021 564 Views 0 comment Print

CSEET students appearing in CSEET to be held on 13th November 2021 |Technical guidance on how to appear for CSEET to be held through Remote Proctored mode on 13th November 2021

ITC not allowed if concessional rate of 5% GST is opted

November 3, 2021 42960 Views 0 comment Print

In re Sri Krishna Logistics (GST AAR Telangana) 1 (A) Whether the rate of GST of 5% (2.5% each towards CGST & SGST) as per Sl.No.8(ii)(b) of Notification No.11/2017-Central Tax (Rates), dt: 28-06-2017 with the condition that input tax credit is not allowed on goods and services. ITC is not allowed to be claimed if concessional […]

Food Safety and Standards (Food Products Standards and Food Additives) Fourth Amendment Regulations, 2021

November 3, 2021 1962 Views 0 comment Print

(1) These regulations may be called the Food Safety and Standards (Food Products Standards and Food Additives) Fourth Amendment Regulations, 2021. (2) They shall come into force on the date of their publication in the Official Gazette and food business operator shall comply with all the provisions of these regulations with effect from 1st day of the June, 2022.

Mineral (Auction) Third Amendment Rules, 2021

November 2, 2021 1584 Views 0 comment Print

(1) These rules may be called the Mineral (Auction) Third Amendment Rules, 2021. (2) They shall come into force on the date of their publication in the Official Gazette.

CBDT notifies pension fund | School Employees Retirement System of Ohio

November 2, 2021 816 Views 0 comment Print

CBDT notifies pension fund, namely, ‘School Employees Retirement System of Ohio’ under sub-clause (iv) of clause (c) of the Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961 in respect of eligible investment made by it in India on or after 2nd November, 2021 but on or before the 31st day […]

FAQs on Money Changing Activities

November 2, 2021 4761 Views 0 comment Print

uthorised Money Changers (AMCs) are entities, authorised by the Reserve Bank under Section 10 of the Foreign Exchange Management Act, 1999. An AMC is a Full Fledged Money Changer (FFMC) authorised by the Reserve Bank to deal in foreign exchange for specified purposes.

GST collection for Oct 2021 registered 2nd highest since GST implementation

November 1, 2021 1833 Views 0 comment Print

The gross GST revenue collected in the month of October 2021 is ₹ 1,30,127 crore of which CGST is ₹ 23,861 crore, SGST is ₹ 30,421 crore, IGST is ₹ 67,361 crore (including ₹ 32,998 crore collected on import of goods) and Cess is ₹ 8,484 crore (including ₹ 699 crore collected on import of goods).

Master Circular- Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs

November 1, 2021 4197 Views 0 comment Print

With a view to moving towards international best practices and to ensure greater transparency, ’90 days’ overdue1 norms for identification of NPAs have been made applicable from the year ended March 31, 2004. As such, with effect from March 31, 2004, a non-performing asset is a loan or an advance where:

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