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Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2022

August 11, 2022 1179 Views 0 comment Print

These Regulations may be called the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2022.

Requests to extend last date for submission of SDD Compliance Certificate

August 11, 2022 10818 Views 0 comment Print

ICSI request SEBI To clarify on anomalies arising out of format of SDD Compliance Certificate & to Grant extension for submission of SDD certificate by 30 days

Voluntary Contributions under D Remit enabled through UPI

August 11, 2022 1359 Views 0 comment Print

Pension Fund Regulatory and Development Authority Circular no.: PFRDA/2022/20/SUP-TB/1 | Dated: 11th Aug, 2022 To, All the NPS stakeholders Subject: Voluntary Contributions under D Remit enabled through UPI In continuation of our Circular no. PFRDA/2020/44/SUP-CRA/17 dt 01.10.2020 and Circular no. PFRDA/2021/6/SUP-CRA/5 dt 10.03.2021 vide which the features of ‘D-Remit’ and ‘Enablement of IMPS mode of contribution […]

GST implications on recovery of liquidated damages by Railways

August 10, 2022 3216 Views 0 comment Print

Payment received by Railways in the form of liquidated damages against tolerating non-performance of conditions of a contract such as a delay in the rendering of supply is not liable to GST.

Section 271B penalty not imposable for non-business income transactions

August 10, 2022 1929 Views 0 comment Print

AR contends that there were no sales or purchase made by the assessee during the year under consideration and the additions made on account of unexplained cash deposits, unexplained investments, unexplained other investments and unexplained profit on sale of land to an extent of Rs.15,40,26,567/- is not turnover as the investments and sale of land was in the nature of capital gain but not in the category of business income.

Revenue cannot debar genuine refund of Assessee for non-payment of TDS by deductor

August 10, 2022 1347 Views 0 comment Print

Revenue has sufficient machinery to recover such amount of TDS deducted from the defaulting assessee but this is not the right way for the revenue to collect the tax again or debar genuine refund to the assessee who has already suffered taxation at source.

Exemption from BCD & IGST with respect to import of cable laying vessel

August 10, 2022 2265 Views 0 comment Print

The applicant intends to claim exemption from basic customs duty and Integrated Goods and Service Tax with respect to the import of cable laying vessel, as per Sr. Nos. 555 and 557C of the Notification No. 50/2017-Customs, dated June 30, 2017.

GST rate on supply of design and construction of Road Service

August 10, 2022 17316 Views 0 comment Print

In re ITL-KCPL JV (GST AAR Gujarat) Q1. Whether the supply of design and construction of Roads and Services of TP-1 Area Under Cluster-A of MBSIR on EPC Basis wherein both goods and services are supplied can be construed to be a Composite Supply of Works Contract in terms of Section 2(119) and section 2(30) […]

FRC fined PwC over BT fraud audit failures

August 10, 2022 1338 Views 0 comment Print

FRC imposed sanctions against PwC & Richard Hughes, Audit Engagement Partner in relation to statutory audit of financial statements of BT Group plc

No GST on ‘Sarais’ run by religious/charitable trusts

August 10, 2022 2700 Views 0 comment Print

GST has recently been imposed with effect from 18 July, 2022. Certain sections of the media and social media are spreading the message that GST has recently been imposed with effect from 18 July, 2022 even on ‘Sarais’ run by religious/charitable trusts. This is not true.  The correct position is detailed below: Based on the […]

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