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Supply of cooking gas via pipeline with Maintenance Service is Composite Supply

September 30, 2021 10635 Views 0 comment Print

In re Masterly Kolkata Facility Maintenance Pvt Ltd. (GST AAR West Bengal) Whether supply of cooking gas through pipeline as provided by the applicant should be classified as supply of goods or supply of services. It is submitted by the applicant that the apartment owners are at liberty either to get the supply of cooking […]

IRDAI: Public Disclosures by Insurers

September 30, 2021 9108 Views 0 comment Print

Insurers may note that the revised instructions shall come into effect from the financial year 2021-22 and the uploading of disclosures on website shall be on quarterly basis from the period ending 30th September, 2021 whereas publishing in Newspapers will be on half yearly basis from the period ending 30th September, 2021.

NIFTEM Act, 2021 applicable from 1st day of October, 2021

September 30, 2021 693 Views 0 comment Print

National Institutes of Food Technology Entrepreneurship and Management (NIFTEM) Act, 2021 notified to be applicable from 1st day of October, 2021 MINISTRY OF FOOD PROCESSING INDUSTRIES NOTIFICATION New Delhi, the 30th September, 2021 S.O. 4036(E).—In exercise of the powers conferred by Sub-section (2) of Section 1 of the National Institutes of Food Technology Entrepreneurship and […]

Government approves continuation of NEIA scheme

September 29, 2021 1041 Views 0 comment Print

Government has today approved capital infusion of has approved contribution of Grant-in-aid (Corpus) of ₹1,650 Crore to National Export Insurance Account (NEIA) over a period of five years, i.e. from FY 2021-2022 to FY 2025-2026.

Cabinet approves listing of ECGC Ltd. through IPO

September 29, 2021 567 Views 0 comment Print

Cabinet given approval for listing of M/s. Export Credit Guarantee CorporationLtd. (ECGC), an unlisted CPSE through the Initial Public Offer (IPO) on the Stock Exchange under the SEBI’s (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Government approves Rs. 4,400 crore investment in ECGC Ltd.

September 29, 2021 831 Views 0 comment Print

Government has today approved capital infusion of ₹4,400 crore to ECGC Ltd. (formerly known as Export Credit Guarantee Corporation of India Ltd.) over a period of five years, i.e. from FY 2021-2022 to FY 2025- 2026.

TP: Depreciation is Operating & revenue from Sale of Asset is non-operating in nature

September 29, 2021 4677 Views 0 comment Print

Depreciation expense to be considered as operating & revenue generated from non-routine business operations to be considered as non-operating in nature in transfer pricing calculations for taxpayers as well as comparable companies.

TP adjustment without applying any prescribed benchmarking method is unsustainable

September 29, 2021 1353 Views 0 comment Print

Megger India Pvt. Ltd. Vs DCIT (ITAT Mumbai) We find that the authorities below have erred in not appreciating the documents submitted by the assessee. While the TPO has not adopted any of the methods prescribed for benchmarking the international transaction, he has erred in applying the benefit test. On the other hand the assessing […]

DGFT extends time for Radiation Portal Monitors & Container Scanners installation

September 29, 2021 549 Views 0 comment Print

The timelines for installation and operationalisation of Radiation Portal Monitors and Container Scanners in the designated sea ports is extended from existing 30.09.2021 to 31.03.2022.

IFSCA: Constitution of an Expert Committee on Sustainable Finance

September 29, 2021 741 Views 0 comment Print

International Financial Services Centres Authority (IFSCA) has been established as a unified regulator to develop and regulate financial products, financial services, and financial institutions in the International Financial Services Centres (IFSCs) in India.

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