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Guidance note on inclusion of “Object of issue” in case of Preferential issues

December 13, 2022 2895 Views 0 comment Print

Guidance note on inclusion of Object of the issue in case of Preferential issues (in the Explanatory statement to the notice to the shareholders) and in Qualified Institutions Placement (QIP) (in the preliminary and final placement document) under Chapter V and VI of SEBI (ICDR) Regulations, 2018, respectively.

MahaRERA: Clarification of Commencement & Occupation Certificate for plotted development

December 13, 2022 2511 Views 0 comment Print

Grant of non-agricultural permission along with sanad issued in the form in Schedule IV or Schedule V in accordance with Rule 4 and Rule 7 of the Maharashtra Land Revenue (Conversion of Use of Land and Non-Agricultural Assessment) Rules, 1969 (the Rules) by the concerned Competent Authority shall be considered as Commencement Certificate for plotted development projects.

RBI (Financial Statements – Presentation and Disclosures) Directions, 2021 – Disclosure of material items

December 13, 2022 1821 Views 0 comment Print

Reserve Bank of India RBI/2022-23/154 DOR.ACC.REC.No.91/21.04.018/2022-23 Dated: December 13, 2022 Madam/Sir, Reserve Bank of India (Financial Statements – Presentation and Disclosures) Directions, 2021 – Disclosure of material items Please refer to the notes and instructions for compilation of Balance Sheet and Profit and Loss Account, for commercial banks, as specified in Annexure II to the Reserve […]

Eligible entities to hedge their exposure to price risk of gold on exchanges in IFSC

December 12, 2022 291 Views 0 comment Print

On a review, it has been decided to permit eligible entities to hedge their exposure to price risk of gold on exchanges in the International Financial Services Centre (IFSC) recognised by the International Financial Services Centres Authority (IFSCA).

Judgment of High Court to be followed despite challenge to the same

December 12, 2022 1215 Views 0 comment Print

ITAT has allowed the appeals of the Assessees following the judgement of this Court in Director of Income Tax v. Sheraton International Inc (2009) 178 taxman 84 (Del). He, however, states that the said decision of this Court has not been accepted by the Revenue and an appeal has been preferred against the same, which is pending adjudication before the Supreme Court being CA No. 3094/2010.

GST registration cancellation without issuing notice under rule 25 & based on mere physical verification not sustainable

December 12, 2022 990 Views 0 comment Print

In the instant case, officer deemed it necessary to carry out physical verification of the petitioner’s place of business before proceeding to pass the impugned order, which resulted in the cancellation of petitioner’s GST registration. Concededly, no notice was issued to the petitioner requiring, as mandated by Rule 25, his presence at the time of verification.

ICAI objected on Article titled “Don’t rely on Insurance Agents or CAs for financial advise”

December 10, 2022 2916 Views 0 comment Print

We would like to draw your attention to an article titled Don’t rely on Insurance Agents or CAs for financial advise published in the ‘Deccan Herald’ dated 05.12.2022. The article written by Ms. Mrin Agarwal, Director, Finsafe India

AAR cannot give ruling on past and completed supply

December 9, 2022 1158 Views 0 comment Print

In re United Breweries Limited (GST AAR Maharashtra) Subject application is rejected as being non-maintainable as per Section 95 of the CGST Act, 2017 because the questions raised by the applicant are in respect of past and completed supply as on the date of the application and not supply, which is being undertaken/proposed to be undertaken. […]

Maharashtra AAR cannot give ruling if situs of transaction in question is not within Maharashtra

December 9, 2022 1137 Views 0 comment Print

In re CHEP India Private Limited (GST AAR Maharashtra) AAR held that if the situs of transaction in question is not within the state of Maharashtra, then as per provisions of section 96 of the Central Goods and service Tax Act 2017 (and similar provision under the MGST Act), the Maharashtra Advance Ruling Authority cannot […]

Notification No. 105/2022-Customs (N.T.), Dated: 09.12.2022

December 9, 2022 2148 Views 0 comment Print

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi Notification No.105/2022-Customs (N.T.) | Dated: 9th December, 2022 S.O. 5773(E).—In exercise of the powers conferred by sub-sections (1A), (4) and (5) of Section 5 read with sub-section (34) of section 2 of the Customs Act, 1962 (52 of 1962), the Central […]

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