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Mandatory implementation of FASTag wef new year day

January 1, 2021 777 Views 0 comment Print

Ministry of Road Transport & Highways has mandated fitment of FASTag with effect from 1st January, 2021, in M and N categories of motor vehicles sold before 1st December, 2017. Category ‘M’ stands for a motor vehicle with at least four wheels used for carrying passengers. Category ‘N’ stands for a motor vehicle with at least four wheels used for carrying goods, which may also carry persons in addition to goods. It is clarified that this Central Motor Vehicle Rule stands in force as it is.

GSTR-3B not filed – GSTR 1 Cannot be filed

January 1, 2021 13521 Views 4 comments Print

Central Goods and Services Tax (Amendment) Rules, 2021. a registered person shall not be allowed to furnish the details of outward supplies of goods or services or both under section 37 in FORM GSTR-1, if he has not furnished the return in FORM GSTR-3B for preceding two months;

Clarification on IRDAI Regulations related to Solvency Margin

January 1, 2021 1296 Views 0 comment Print

For the purpose of Regulation 9 of the IRDAI (Assets, Liabilities and Solvency Margin of Life Insurance Business) Regulations, 2016 and Regulation 9 of the IRDAI (Assets, Liabilities and Solvency Margin of General Insurance Business) Regulations, 2016, it is clarified that the Appointed Actuary will be intimated well in advance through a communication to be sent by an officer of the Authority not below the rank of Deputy General Manager about the reasons for seeking his/her personal visit to the Authority.

FDI inflow increased by 11% from USD 42.06 billion to US$ 46.82 billion

January 1, 2021 1038 Views 0 comment Print

Foreign Direct Investment has played an important role in this process of Globalization and is a major driver of economic growth and a source of non-debt finance for the economic development of India. It has been the endeavour of the Government to put in place an enabling and investor friendly FDI policy.

MCA extends term of Acting President, NCLT

January 1, 2021 1302 Views 0 comment Print

The term of office of Shri Bethala Shantha Vijaya Prakash Kumar, Member (Judicial), as Acting President, NCLT is further extended from 05.12.2020 to till the appointment of regular President of NCLT, or until the date on which he shall complete his tenure as Member (Judicial), NCLT i.e. 31.05.2021 (completion of 5 years’ tenure), or until further orders, whichever is earliest.

SEBI amends two Circular on Mutual Funds

December 31, 2020 1794 Views 0 comment Print

In terms of paragraph 1 of SEBI Circular No. SEBI/HO/IMD/DF2/CIR/P/ 2020/175 dated September 17, 2020, the uniform applicability of NAV in respect of purchase of units of mutual fund schemes upon realization of funds, was to come into effect from January 1, 2021.

CBIC notifies date of implementation of Notification No. 102/2020-Customs (NT)

December 31, 2020 681 Views 0 comment Print

Notifying the date of implementation of Notification No. 102/2020-Customs (NT) dated 23.10.2020. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 31st December, 2020 Notification No. 116/2020-Customs S.O. 4786(E).—In exercise of the powers conferred by sub-section (1) of section 28EA of the Customs Act, 1962 (52 of […]

CVD Investigation concerning imports of Copper Tubes and Pipes

December 31, 2020 435 Views 0 comment Print

Case No. CVD-08/2020 Subject:- Countervailing Duty Investigation concerning imports of Copper Tubes and Pipes from Malaysia, Thailand and Vietnam

IRDAI imposes penalty of Rs. 5 Lakh on Bharti AXA General Insurance Company Ltd

December 31, 2020 741 Views 0 comment Print

The penalty amount of Rs. 5 lakhs (Rupees five lakh only) shall be remitted by the Insurer by debiting the shareholders’ account within a period of forty five days from the date of receipt of this order through NEFT/RTGS (details for which will be communicated separately).

Auto-population of e-invoice details into GSTR-1/2A/2B/4A/6A

December 31, 2020 17667 Views 0 comment Print

1. Certain notified taxpayers have been issuing invoices after obtaining Invoice Reference Number (IRN) from Invoice Registration Portal (IRP) (commonly referred as ‘e-invoices’). Details from such e-invoices shall be auto-populated in respective tables of GSTR-1. Update on the status of such auto-population was last published on 30/11/2020.

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