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No violation of Anti-Profiteering if relevant events took place in GST regime

August 5, 2022 657 Views 0 comment Print

Director General of Anti-Profiteering Vs Elan Ltd. (NAA) The Authority has carefully examined the Report of the DGAP and it has been observed that the relevant events for the project Epic took place in GST regime and the Respondent had not availed any CENVAT/ITC, related to ‘EPIC’ project, in pre-GST regime and that the Respondent […]

Income Tax Interest Waiver Application – Law applicable on application date to be applied

August 5, 2022 7215 Views 0 comment Print

HC held that In the present case, the appellant had the right to apply for waiver of the interest charged under Section 234A or Section 234B, or Section 234C

Framework for restricting trading by DPs by freezing PAN

August 5, 2022 3225 Views 0 comment Print

SEBI issues Framework for restricting trading by Designated Persons (DPs)  by freezing PAN at security level

RBI hikes policy repo rate to 5.40 per cent (Read Notifications)

August 5, 2022 609 Views 0 comment Print

RBI increase policy repo rate under Liquidity Adjustment Facility by 50 basis points from 4.90 per cent to 5.40 per cent with immediate effect

IBBI warns IP to be more careful and vigilant in conducting CIRP

August 5, 2022 372 Views 0 comment Print

DC notes that Mr. Aditya Agrawal should have been more careful and vigilant in conducting the CIRP and should have updated his professional knowledge and kept up with the IBC jurisprudence advanced by the Supreme Court. The DC is also of the considered opinion that the lapse committed by Mr. Aditya Agrawal is relatively minor […]

Court Can Extend Mandate of Arbitrator in Dispute Referred to Arbitration under MSME Act

August 5, 2022 3429 Views 0 comment Print

Magirsha Industries Vs Gujarat State Fertilizer And Chemicals Limited (Gujarat High Court) Issue relating to power of this Court to extend the mandate, insofar as the references made by MSME is seriously disputed by respondent counsel. Having regard to the fact that sub-section (3) of section 18 of MSME Act, 2006 that the provision of […]

Customs Exchange rate for Import & Export wef 5th August, 2022 

August 4, 2022 3309 Views 0 comment Print

Exchange rate Notification No. 66/2022-Cus (NT) dated 04.08.2022  notifying exchange rate with effect from 5th August, 2022 against Indian Rupees for Import and Export. Government Of India Ministry Of Finance Department Of Revenue Central Board Of Indirect Taxes And Customs New Delhi ***** Notification No. 66/2022 – Customs (N.T.) | Dated: 4th August, 2022 In exercise […]

DGFT removes requirement of BIS certification for import of ‘Hexane, Food Grade’

August 4, 2022 1608 Views 0 comment Print

The requirement for BIS certification for import of ‘Hexane, Food Grade’ is removed, with immediate effect vide Notification No. 24/2015-2020-DGFT | Dated: 4th August 2022. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan, New Delhi Notification No. 24/2015-2020-DGFT | Dated: 4th August 2022 Subject: Amendment […]

Guidelines for Renewal/Redemption of MLTGD

August 4, 2022 627 Views 0 comment Print

The redemption of principal at maturity shall, at the option of the depositor, be either in Indian Rupee equivalent of the value of deposited gold at the time of redemption, or in gold. However, any premature redemption of MLTGD shall be only in INR.

Narcotics Bureau busts illicit drug manufacturing kitchen lab at Karnal

August 4, 2022 147 Views 0 comment Print

Central Bureau of Narcotics busts illicit drug manufacturing kitchen lab at Karnal, Haryana Acting on the said specific information, officers of Central Bureau of Narcotics, New Delhi, raided on 05/07/2022 and busted a clandestine Kitchen Lab where narcotics drugs containing Diphenoxylate was being manufactured. Preventive and Intelligence Cell , Central Bureau of Narcotics, New Delhi […]

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