Customs Authorities may take scanned copy of the PSIC document submitted by the importers for clearance without asking for the physical copy. The original physical copy of the PSIC needs to be submitted to Customs within 60 days of the clearance.
We advise that as per the circular dated April 17, 2020 on asset classification and provisioning, in respect of all accounts classified as standard as on February 29, 2020, even if overdue, the moratorium period, wherever granted, shall be excluded by the lending institutions from the number of days past-due for the purpose of asset classification.
In re Sunil Kumar Gehlot (Sunil Kumar & Co.) (GST AAR Rajasthan) The applicant is engaged in manufacture of hair dye powder in Sojat city. The applicant intends to manufacture mehandi/henna powder in future and so wish to seek clarification on the classification and rate of GST applicable on the mehandi/henna powder. AAR held that […]
Rule 117 of CGST Rules is directory in nature, insofar as it prescribes the time-limit for transitioning of credit and therefore, the same would not result in the forfeiture of the rights, in case the credit is not availed within the period prescribed.
MCA clarifies on holding of Digital AGM through VC or OAVM For companies which are required to provide the facility of e-voting under the Act, or any other company which has opted for such facility and For companies which are not required to provide the facility of e-voting.
Public Provident Fund (Amendment) Scheme, 2020- The deposits made in the account between 12th December, 2019 to 31 st March, 2020 (both days inclusive) and the balances at the credit of the account shall bear interest at the rate of 7.9 per cent. per annum. Lowest balance at the credit of an account between the close of the fifth day and the end of the month shall be eligible for interest.
National Savings Time Deposit (Amendment) Scheme, 2020- The rate of interest as specified in the table below shall be applicable to the deposits made on or after the 1st day of April, 2020 under the Scheme
Sukanya Samriddhi Account (Amendment) Scheme, 2020- The deposits made in the account between 12th December, 2019 to 31st March, 2020 (both days inclusive) and the balances at the credit of the account shall earn interest at the rate of 8.4 per cent. per annum. The deposits made in the account on or after the 1st day of April, 2020 and the balances at the credit of the account shall earn interest at the rate of 7.6 per cent. per annum.
Senior Citizens’ Savings (Amendment) Scheme, 2020- The deposit made under this Scheme between 12th December, 2019 to 31st March, 2020 (both days inclusive) shall bear interest at the rate of 8.6 per cent per annum. The deposit made under this Scheme on or after the 1st day of April, 2020 shall bear interest at the rate of 7.4 per cent. per annum.
National Savings (Monthly Income Account) (Amendment) Scheme, 2020- The deposit made under this Scheme between 12th December, 2019 to 31st March, 2020 (both days inclusive) shall bear interest at the rate of 7.6 per cent. per annum. The deposit made under this Scheme on or after the 1st day of April, 2020 shall bear interest at the rate of 6.6 per cent. per annum
