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Neeva Food guilty of Profiteering, Not passed GST Benefit to Customer: NAA

July 6, 2020 987 Views 0 comment Print

Director General of Anti-Profiteering Vs M/s Neeva Foods Pvt, Ltd. (National Anti-Profiteering Authority) 1. The present Report dated 27.12.2019 has been furnished by the Director General of Anti-Profiteering (DGAP), under Rule 129 (6) of the Central Goods & Services Tax (CGST) Rules, 2017, The briefzs facts of the case are that a reference was received […]

Turnover in respect of speculative transactions & section 271B Penalty

July 3, 2020 12234 Views 0 comment Print

Santosh Kumar Vs ITO (ITAT Jaipur) Tribunal has considered the guidance note of ICAI in respect of the tax audit U/s 44AB of the Act wherein the turnover or gross receipt in respect of speculative transactions has been considered as some total of positive and negative outcome of the speculative transactions. This Tribunal in a […]

SEBI (Investment Advisers) (Amendment) Regulations, 2020

July 3, 2020 12636 Views 1 comment Print

1. These Regulations may be called the Securities and Exchange Board of India (Investment Advisers) (Amendment) Regulations, 2020. 2. They shall come into force on the ninetieth day from the date of their publication in the Official Gazette.

Details of Visas Granted By India

July 3, 2020 1557 Views 0 comment Print

e-Visa is granted to a foreigner whose sole objective of visiting India is recreation, sight seeing, casual visit to meet friends or relatives, attending a short term yoga programme, medical treatment including treatment under Indian systems of medicine and business purpose and no other purpose/ activity.

FAQ’s Relating To Work Related Visas Issued By India

July 2, 2020 747 Views 0 comment Print

Introduction Several queries have been raised about the type of Visas issued by India to foreigners for work related visits. It is clarified that basically there are two (2) types of work related Visas, namely:- 1. Business Visa designated as ‘B’ Visa 2. Employment Visa designated as ‘E’ Visa Frequently asked questions with regard to […]

SEBI SOP in cases of Trading/Clearing Member leading to default

July 1, 2020 1908 Views 0 comment Print

On analysis of early warning signals or any of the following triggers, if the SE / CC is of the view that the TM / CM is likely to default in the repayment of funds / securities to its clients and / or fail to meet the settlement obligations

Master Circular 2020 – Detection & Impounding of Counterfeit Notes

July 1, 2020 2016 Views 0 comment Print

Notes determined as counterfeit shall be stamped as COUNTERFEIT NOTE and impounded in the prescribed format . Each such impounded note shall be recorded under authentication, in a separate register.

Special liquidity scheme for NBFCs/HFCs

July 1, 2020 834 Views 0 comment Print

The Government of India has approved a scheme to improve the liquidity position of NBFCs/HFCs through a Special Purpose Vehicle (SPV) to avoid any potential systemic risks to the financial sector. To be eligible under the Scheme, the following conditions should be met:

Relaxations related to Board meetings & Independent Directors

July 1, 2020 4164 Views 0 comment Print

 Further relaxations by the Ministry of Corporate Affairs till September 30, 2020 for conduct of Board meetings to approve its financial statements through VC or OAVM and registration of Independent Directors in the Independent Directors Data Bank.

Books cannot be rejected for mere non-Maintenance of Stock Register or for adoption of incorrect method of stock valuation

June 30, 2020 6441 Views 0 comment Print

Paramount Impex Vs ACIT (ITAT Chandigarh) we are not in agreement with the Revenue that the non maintenance of stock register was sufficient for exercising the power of rejecting the books of the assessee. It is not unusual for businesses dealing in large number of small items and operating at a small or medium scale […]

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