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No concession GST rate benefit to organisation running on a business model

July 23, 2021 1362 Views 0 comment Print

In re KPC Projects Limited (GST AAR Andhra Pradesh) It is observed taht activities of M/s APIIC are business activities and not otherwise. The applicant claims that the works involved in the contract i.e., the RBF sheds are used by none other than the organisation (APIIC) itself. But a detailed examination of the activities of […]

NCLAT refuses to stay Piramal Group’s DHFL resolution plan

July 23, 2021 1641 Views 0 comment Print

63 Moons Technologies Ltd. Vs The Administrator of Dewan Housing Finance Corporation Ltd. (NCLAT Delhi) 1. Company Appeal (AT) (Insolvency) No.454 of 2021 has been filed against impugned order dated 7th June, 2021 passed in IA 623/2021 in IA 449/MB/C-II/2021 in CP (IB) 4258/MB/C-II/2019. By the impugned order, the Interlocutory Application of the Appellant seeking […]

ICAI CMA Draft guideline & FAQs for Multi-Disciplinary Partnership

July 22, 2021 2820 Views 0 comment Print

Seeking comments of the members on Draft Guidelines for the Formation of Multi-Disciplinary Partnership (MDP) firms by the members of the Institute of Cost Accountants of India as per provisions of the Cost and Works Accountants Act and Regulations and Draft Frequently Asked Questions on Formation of Multi-Disciplinary Partnership (MDP) Firms by the Practising Members of the Institute of Cost Accountants of India.

AO cannot refer matter to DVO without rejecting Books of Accounts

July 22, 2021 1479 Views 0 comment Print

The appellant failed to offer any explanation properly in support of the grounds raised in this appeal nor any supporting evidence were produced despite adequate opportunity having been provided. Since, in the instant case the appellant has not be able to show that the decision of the AO

Further extensions regarding validity of Peer Review Certificate

July 22, 2021 3612 Views 0 comment Print

Peer Review Board The Institute of Chartered Accountants of India 22nd July, 2021 ANNOUNCEMENT Sub: Further extensions regarding the validity of Peer Review Certificate in the wake of COVID -19 spurt across the country (22-07-2021) In view of the fact that the pandemic is still continuing and several parts of the country are under partial […]

Implementation of RMS for processing of Duty Drawback Claims – reg

July 22, 2021 1512 Views 0 comment Print

In the second phase, which is now being taken up, RMS will process the shipping bill data after the Export General Manifest (EGM) is filed electronically and will provide required output to ICES for selection of shipping bills for risk-based processing of duty drawback claims.

Handling Surrender requests of Annuity Policies issued to NPS Subscribers by ASPs

July 22, 2021 477 Views 0 comment Print

Under National Pension System (NPS), the Subscribers are allowed to exit as per PFRDA (Exit and Withdrawal) Regulations. Exit regulations of PFRDA mandates for the utilization of the specified amount of accumulated corpus to purchase immediate Annuity to be provided by Annuity Service Providers (ASP) which are empaneled with PFRDA. ASPs are Life Insurance Companies which are regulated by Insurance Regulatory and Development Authority of India (IRDAI).

Union Cabinet approves PLI Scheme for Specialty Steel

July 22, 2021 858 Views 0 comment Print

Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi, approved the Production Linked Incentive (PLI) Scheme for specialty steel. The duration of the scheme will be five  years,  from 2023-24 to 2027-28.With a budgetary outlay of ₹6322 crores, the scheme is expected to bring in investment of approximately ₹40,000 crores and capacity addition of 25 MT for speciality steel. The scheme will give employment to about 5,25,000 people of which 68,000 will be direct employment.

Essential Defence Services Bill, 2021 introduced in Lok Sabha

July 22, 2021 708 Views 0 comment Print

Essential Defence Services Bill, 2021 is introduced in Lok Sabha on 22/07/2021 to replace Essential Defence Services Ordinance, 2021. As Parliament was not in session and urgent legislation was required to be made, the President promulgated the Essential Defence Services Ordinance, 2021 on the 30th June, 2021. Essential Defence Services Bill, 2021 is a bill […]

MCA notifies Changes in Section 4 | Memorandum | Companies Act, 2013

July 22, 2021 4296 Views 0 comment Print

MCA notifies Changes in Section 4 of Companies Act, 2013 which relates to Memorandum with effect from 1st September, 2021 vide Notification No. S.O. 2904(E). dated 22nd July, 2021. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 22nd July, 2021 S.O. 2904(E).—In exercise of the powers conferred by sub-section (2) of section 1 of the […]

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