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Facilitation provided to AEO/DPD importers due to COVID-19 pandemic

April 9, 2020 699 Views 0 comment Print

Customs clearance on the basis of self-certified copies of PTA/FTA certificates in case of DPD/AEO Clients – Facilitation provided to AEO/DPD importers due to COVID-19 pandemic

MCA allows companies to hold EGMs through VC or OAVM

April 8, 2020 47367 Views 1 comment Print

MCA allows  companies to hold Extraordinary General Meetings (EGMs) through VC or OAVM complemented with e-Voting facility/simplified voting through registered emails.

Wearing of Mask Compulsory in Mumbai at Public Places

April 8, 2020 1953 Views 0 comment Print

1. All person will be moving for whatsover purpose and under whatever reason authority in public place, like street, hospital, office, markets must be wearing 3 ply mask or cloth mask compulsorily. 2. Any person who is moving around in his personal and official vehicle must be wearing these masks compusarily.

IRDAI: Corporate Agency matters of PSBs merged w.e.f. 01.04.2020

April 8, 2020 1074 Views 0 comment Print

This circular is applicable to the four banks emerging from the mega merger exercise effected from 1st April, 2020; i.e. Punjab National Bank, Canara Bank, Union Bank of India and Indian Bank and concerned insurers. In this circular, the four banks are referred as ‘Acquiring Bank’ and the banks that were merged with the acquiring bank are referred as ‘Acquired Bank’.

UTGST: Conditional for lowering of interest rate for GSTR 3B notified

April 8, 2020 1131 Views 0 comment Print

CBIC notifies vide Notification No. 1/2020 – Union Territory Tax Dated 8th April, 2020 provisions to provide relief by conditional lowering of interest rate for tax periods of February, 2020 to April, 2020. Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 1/2020 – Union Territory Tax […]

Risk Management and Inter-bank Dealings – Hedging of foreign exchange risk

April 7, 2020 5934 Views 0 comment Print

i. Domestic non-retail corporates having an INR liability may, at their discretion, convert it into a foreign currency liability through a currency swap. ii. For derivative contracts involving INR, Authorised Dealers shall allow a user to book derivative contracts up to USD 10 million equivalent of notional value (outstanding at any point in time) without the need to establish the existence of underlying exposure.

One-time condonation under EPCG Scheme-Extension till 31.03.2021

April 7, 2020 6114 Views 0 comment Print

The time period to receive requests in RAs for block-wise extension; extension in Export Obligation Period and submission of installation certificate is further extended up to 31.03.2021.

ICAI allows provisional registration in CA Foundation Course

April 6, 2020 1869 Views 0 comment Print

Allowing provisional registration in the Foundation Course of Institute of Chartered Accountants of India (ICAI) for students who have been allotted either admit card and/or appeared in one or more papers of Class XII examinations

Customs not to insist on presence of Customs Broker/Importer

April 5, 2020 1098 Views 0 comment Print

Presence of Customs Broker/Importer will also not be insisted by the officer and the delivery of goods will be given to the driver who produces the Gate pass issued by the CFS containing the number and date of the bill of entry or the Bill of Entry, to the Gate Officer.

Provision for anticipated Pay Revision is allowable Business Expense

April 5, 2020 3234 Views 0 comment Print

Housing And Urban Development Corporation ltd Vs Add. CIT (Delhi High Court) The pay revision of employees of the appellant, a PSU is due every ten years with the expiry of one wage settlement or agreement. Invariably, there is a time lag between expiry of a wage revision and negotiation of a fresh wage revision. […]

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