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GST: HC allows operation of Bank account over and above the amount of revenue

April 6, 2021 1461 Views 0 comment Print

Bytedance (India) Technology Pvt. Ltd. Vs Union of India (Bombay High Court) FULL TEXT OF THE JUDGMENT/ORDER OF BOMBAY HIGH COURT 1. The petitioner is before the court aggrieved by two communications both dated 18th March, 2021 issued by the Principal Director General of Goods and Service Tax Intelligence, Mumbai (“DGGI”) provisionally attaching petitioner’s bank […]

Delhi HC junks Britannia’s Plea of Trademark Infringement against ITC

April 5, 2021 2961 Views 0 comment Print

Britannia Industries Ltd Vs ITC Ltd. (Delhi High Court) FULL TEXT OF THE JUDGMENT/ORDER OF DELHI HIGH COURT 1. On 1 1th September, 2020, the Trademark Registry registered the following trademark in favour of the plaintiff M/s Britannia Industries Ltd., in respect of “biscuits, bread, buns, rolls, bakery products, coffee, tea, cocoa, sugar, rice, tapioca, […]

Penalty cannot be levied on the basis of estimated additions

April 5, 2021 6441 Views 0 comment Print

Delhi High Court in CIT vs. Aero Traders Pvt. Ltd. has held that no penalty u/s.271(1)(c) of the Act can be imposed when income is determined on estimate basis.

Tribunals Reforms (Rationalisation & Conditions of Service) Ordinance, 2021

April 4, 2021 1311 Views 0 comment Print

(1) This Ordinance may be called the Tribunals Reforms (Rationalisation and Conditions of Service) Ordinance, 2021. (2) It shall come into force at once.

Bank Audit- Advisory on SC Order dated March 23, 2021

April 3, 2021 17499 Views 0 comment Print

Advisory on Supreme Court Order dated March 23, 2021 regarding Income Recognition and Assets Classification (IRAC) Norms Preamble The honourable Supreme Court had passed following interim order on September 03, 2020 – “the accounts which were not declared NPA till 31.08.2020 shall not be declared NPA till further orders “ The honourable Supreme Court has […]

Enabling dealings by IFSC Banking Units in Bullion Unallocated Accounts

April 3, 2021 657 Views 0 comment Print

This circular is being issued to enable Banking Units – IBU (Indian Banking Units) /FBU (Foreign Banking Units) in IFSC to operate Unallocated Accounts for the purpose of trading, hedging and swapping with Physical Gold / Silver (Allocated).

Guidance Note for CA Intermediate New Examination May, 2021

April 2, 2021 6438 Views 0 comment Print

1. Ensure that you are filling the correct exam form. In other words, check the exam application form to see if it relates to Intermediate(IPC)(Old) course or Intermediate (New) course, before you apply. 2. Detailed instructions on filling up the exam forms online are enclosed. Candidates are advised to read, understand and follow the instructions carefully while filling up the form. Please also read the FAQs for Online Forms Intermediate hosted on https://icaiexam.icai.org

Branches can conduct physical/virtual batches of ICITSS & AICITSS

April 2, 2021 8043 Views 0 comment Print

Branches may conduct physical or virtual batches w.e.f. 1st April, 2021 for all the category of students for both ICITSS & AICITSS courses. Students appearing in May 2022 Final exam are permitted to attend virtual batches

Advisory on filing of Bill of Entry (BE) w.e.f. 29.03.2021

April 2, 2021 6945 Views 0 comment Print

Ministry of Finance Government of India Attention! Importers/Customs Brokers Important amendments regarding filing of Bill of Entry (BE) w.e.f. 29.03.2021 (Section 46 of Customs Act) ♣ BE to be filed in advance as per the following time-limits:  BE is to be filed latest by end of the day of arrival of the Vessel/Aircraft/Vehicle 1. Imports […]

GST Compliances before 31.03.2021 & Changes w.e.f 01.04.2021

April 1, 2021 17880 Views 0 comment Print

GST Compliances Before 31st March 2021 and Changes w.e.f 1st April 2021 Now, we are into the last week of the financial year ending 31st March 2021, there are various tasks which we need to complete before 31st March 2021 as well as various tasks we need to start with effect from 1st April 2021. […]

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