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Standard Operating Procedure for Inter-operable Regulatory Sandbox (IoRS)

October 12, 2022 1239 Views 0 comment Print

In order to facilitate testing of innovative products/services falling within the regulatory ambit of more than one financial sector regulators viz. RBI, SEBI, IRDAI, IFSCA and PFRDA, a Standard Operating Procedure (SOP) for IoRS has been prepared by the Inter-Regulatory Technical Group on FinTech (IRTG on FinTech). The Securities and Exchange Board of India today placed on its website the SOP for IoRS.

ITAT disallows Bad Debt written off as Assessee fails to furnish information about subsequent recovery

October 12, 2022 2895 Views 0 comment Print

AO further held that to write off a debt it necessary that the debt becomes bad and irrecoverable after making effort for recovery. In the case of the assessee, from the ledger copies furnished by it, it was found that amounts form the debtor were received regularly.

ICSI Request for extension of time period for filing of financial statements & annual return

October 12, 2022 15006 Views 0 comment Print

ICSI request you to kindly consider granting extension of time for filing of financial statements and annual return for the financial year ended 31.03.2022 up to 31st December, 2022 without levying additional fee.

Extension of Validity of Export of Raw Sugar to USA under TRQ to 31.12.2022

October 12, 2022 375 Views 0 comment Print

Extension of Validity regarding Export of Raw Sugar to USA under Tariff Rate Quota (TRQ) for the Fiscal Year 2022 from 30.09.2022 to 31.12.2022

NPS/APY Functionalities released by CRAs during Quarter I (FY 2022-23)

October 12, 2022 705 Views 0 comment Print

CRAs have the responsibility to develop new functionalities or utilities, establish new processes, and offer multiple models of interface for the uploading offices in order to provide maximum flexibility in terms of operation for the benefit of the subscribers as an ongoing exercise to fulfil their obligations that ultimately benefit the Subscribers.

FAQs on Corporate Governance while submitting XBRL utility at Exchange

October 12, 2022 2481 Views 0 comment Print

FAQs on Corporate Governance while submitting Corporate Governance XBRL utility at Exchange for Quarter ended 30th September 2022.

Export quota of only broken rice (HS code 1006 40 00) for year 2022-23

October 12, 2022 1305 Views 0 comment Print

Quota of 3,97,267 MT of only broken rice under HS Code 1006 40 00, applicable only to LCs opened before the Notification No.31/2015-2020 dated 8th September, 2022 and the message exchange date between the Indian and foreign bank / swift date also prior to 8th September, 2022, to be exported during year 2022-23, is notified. […]

Weekly newsletter from Chairman, CBIC dated 12/10/2022

October 11, 2022 1596 Views 0 comment Print

On the Anti-Smuggling front, it was an eventful week. Officers of the Delhi Airport & General Commissionerate detected a case of smuggling of bejeweled watches by an international passenger arriving at the Delhi Airport.

Section 263 revision quashable if assessee duly produced all necessary details: HC

October 11, 2022 1125 Views 0 comment Print

It appears that after completing the assessment the assessing officer addressed the PCIT stating that certain error has occurred in the assessment order and requested him to review the order under section 263 of the Act.

Updated Harmonized Master List of Infrastructure Sub-sectors

October 11, 2022 38037 Views 0 comment Print

Data Centres and Energy Storage Systems (ESS) is included in the Harmonized Master List of Infrastructure sub-sectors

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