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ECLGS 1.0 & 2.0 extended upto 30.6.2021

June 1, 2021 537 Views 0 comment Print

Validity of ECLGS i.e. ECLGS 1.0, ECLGS 2.0 & ECLGS 3.0 have been extended upto 30.06.2021 or till guarantees for an amount of Rs. 3 lakh crore are issued. Last date of disbursement under the scheme has been extended to 30.09.2021.

Appeal for review of lockdown extension & subsequent unlocking of Delhi markets

June 1, 2021 234 Views 0 comment Print

We truly acknowledge and appreciate your tireless efforts in handling the unprecedented Second wave of Covid in Delhi which has left an indelible impression in the hearts and minds of the citizens of Delhi. Despite your ill health you continued to work for the citizens.

Tariff Notification No. 49/2021-Customs (N.T.) dated 31st May, 2021

May 31, 2021 1935 Views 0 comment Print

Tariff Notification No. 49/2021-CUSTOMS (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi, the 31st May, 2021 Notification No. 49/2021-Customs (N.T.) S.O. 2097(E).—In exercise of the powers conferred by sub-section (2) of […]

5% GST Payable on Patanjali ‘Gomaya Samidha’

May 31, 2021 3822 Views 0 comment Print

In re Patanjali Ayurved Ltd. (GST AAR Uttarakhand) 1. Gomaya Samidha – Patanjali Ayurved ka Utpad is a brand name of M/s Patanjali Ayurved Ltd. and it is an organic manure covered under Chapter Heading no. 3101. 2. Gomaya Samidha – Patanjali Ayurved ka Utpad is not exempt from levy of GST in terms of S.No. […]

SC directs Govt to complete process of appointment of Members of NCLT & NCLAT at the earliest

May 31, 2021 1431 Views 0 comment Print

NCLAT by writing to the Hon’ble Chief Justice, we trust and hope that the reappointment process should be completed expeditiously, as there is no necessity of issuance of any advertisement for participation of other eligible candidates.

Relevant date for GST refund in case of cancellation of residential flats by any customer

May 30, 2021 1824 Views 0 comment Print

In the event of cancellation of residential flats by any customer, whether the relevant date for application of refund of taxes already paid on advances is to be reckoned from date of payment voucher giving back the refund to the customer or is to be reckoned from the date of filing GSTR-3B for the month in which the tax on advances received were paid. The relevant date for filing of refund application in the above situation is the date of payment of tax as prescribed in clause (h) of Explanation 2 of Section 54 of the CGST Act, 2017.

IRDAI fines Visista Insurance Broking Services Pvt Ltd

May 28, 2021 2418 Views 0 comment Print

The broker should note that submission of necessary documents during Authority inspection, is the duty of the entity, to make the inspection effective. Further non submission of documents within the specified timeline may be construed as a deliberate attempt to restrict Authority’s inspection team from examining the functioning of the Broker. The Broker is cautioned for the lapse and advised that any recurrence of similar lapse will be viewed seriously in future.

RBI releases ‘Quarterly Statistics on Deposits & Credit of SCBs: March 2021’

May 28, 2021 2052 Views 1 comment Print

Bank credit growth (y-o-y) decelerated to 5.6 per cent in March 2021 from 6.4 per cent a year ago. Combined credit by bank branches in top six centres (viz, Greater Mumbai, Delhi, Bengaluru, Chennai, Hyderabad and Kolkata, which together accounted for over 46 per cent of total bank credit) declined marginally during 2020-21; bank branches in urban, semi-urban and rural areas, on the other hand, recorded 9.4 per cent, 14.3 per cent and 14.5 per cent credit growth, respectively, during the year.

Section 263 need not be invoked for computational error: ITAT

May 28, 2021 627 Views 0 comment Print

Manoj Singhal Vs PCIT (ITAT Delhi) On going through the details, we find that the deduction claimed u/s 54F was Rs.6,12,10,100/- whereas the deduction eligible was Rs.6,11,19,500/-. Thus, there is a computational difference of Rs.90,600/- in the claim of deduction u/s 54F which could have been rectified u/s. 154. The provisions of section 263 need […]

7 Myths & Facts on India’s Vaccination Process

May 27, 2021 786 Views 0 comment Print

Several myths on India’s Covid-19 vaccination program are doing the rounds. These myths are arising due to distorted statements, half truths and blatant lies. Member (Health) in NITI Aayog and Chair of the National Expert Group on Vaccine Administration for COVID-19 (NEGVAC) Dr Vinod Paul addresses these myths and gives out facts on all these issues.

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