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No monetary consideration- No Service Tax : CESTAT

November 2, 2020 2124 Views 0 comment Print

Golcha Properties Pvt. Ltd. (Golcha Cinema) Vs Principal Commissioner of Service Tax (CESTAT Delhi) The agreement with M/s. A.A. Films that was enclosed as the seventh relied upon document has only to be examined. A perusal of the agreement between the Appellant and the Distributor would also make it abundantly clear that it is the […]

Advisory Regarding ICAI November 2020 Examinations

October 31, 2020 729 Views 0 comment Print

Advisory to Students and Public at Large Regarding ICAI November 2020 Examinations Students and Public at large are hereby requested to note: > The ICAI Examinations to be held in November 2020 sill be held as per schedule horn 21st November 2020 announced as per Announcement Dated 13th October 2020 – https://www.icai.org/resource/61467exam50014.pdf > ICAI has […]

Exposure Draft of Interest Rate Benchmark Reform – Phase 2

October 30, 2020 501 Views 0 comment Print

Globally, many jurisdictions have been taking steps for replacing existing Interbank offered rates (IBORs) with some alternate benchmark rates as a result of recommendations of Financial Stability Board. In this regard, IASB identified two groups of accounting issues that could affect financial reporting due to the reform:

Import of potatoes without license from Bhutan allowed till 31.01.2021

October 30, 2020 495 Views 0 comment Print

Import of potatoes under Exim Code 07019000, is allowed for import from Bhutan without license up to 31st January 2021. Notification No. 44/2015-2020-DGFT

Portfolio Managers – Frequently Asked Questions

October 29, 2020 3450 Views 0 comment Print

A portfolio manager is a body corporate, which, pursuant to a contract with a client, advises or directs or undertakes on behalf of the client (whether as a discretionary portfolio manager or otherwise) the management or administration of a portfolio of securities or goods or funds of the client.

Extension of ESI Scheme to Arunachal Pradesh

October 29, 2020 309 Views 0 comment Print

In its continuous endeavor to cover more workers under ESI Scheme, Govt. of India has now extended the Employees ‘State Insurance (ESI) Scheme for the first time to Arunachal Pradesh, with effect from 1st November, 2020. A notification to this effect has been issued by the Central Government for notifying the district of Papum Pare,under ESI Scheme.

CG borrows & transfers Rs. 6,000 crore to 16 States as GST compensation

October 29, 2020 282 Views 0 comment Print

The Government of India has evolved a special borrowing window to addressthe shortfall in the GST collection during the year 2020 – 2021. 21 States and 2 Union Territories opted for this special window involving back-to-back borrowing coordinated by the Ministry of Finance.

No Anti-Profiteering penalty between the period 01.07.2017 to 31.12.2018

October 29, 2020 372 Views 0 comment Print

Suresh Kumar Gupta Vs Nirala Projects Pvt. Ltd. (NAA) It is revealed from the perusal of the CGST Act and the Rules framed under it that the Central Government vide Notification No. 01/2020-Central Tax dated 01.01.2020 has implemented the provisions of the Finance (No. 2) Act, 2019 from 01.01.2020 vide which sub-section 171 (3A) was […]

18 more individuals declared as terrorists under Unlawful Activities (Prevention) Act, 1967

October 29, 2020 549 Views 0 comment Print

Under the strong and iron-willed leadership of the Prime Minister, Shri Narendra Modi, the Central Government had amended the Unlawful Activities (Prevention) Act, 1967 in August 2019, to include the provision of designating an individual as a terrorist. Prior to this amendment, only organizations could be designated as terrorist organizations.

DGFT deletes SION No. A-468 of Chemical & Allied Product Group

October 29, 2020 768 Views 0 comment Print

The Standard Input Output Norms (SION) for the export product – 4,4 Diamino Diphenyl Amine -2- Sulphonic Acid are published in HBP Vol. II at two places, that is, at A-465 and A-468. The norms at SION A-465 are more precise. Hence. the norms at SION A-468 is deleted with immediate effect. Public Notice No. […]

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