Valuation Standards Board, ICAI ICAI- Release of Answers to the Questions (ATQ’s) raised during the Live Webcast on “Valuation and Valuation Standards Compliance and other aspects under various Laws” on 19th April, 2020 We are happy to inform you that Valuation Standards Board of ICAI (VSB) had organised a live webcast on Valuation and Valuation […]
The owner of the Barber shop/ Hair-cut saloon will ensure that any staff member who has symptoms of COVID-19 (Fever, Dry Cough, breathing difficulty etc) shall stay at home seek medical advice. Similarly no client having such symptoms should be attended.
In re ID Fresh Food (India) Pvt. Ltd. (GST AAR Karnataka) Whether the preparation of Whole Wheat parota and Malabar parota be classified under Chapter heading 1905, attracting GST at the rate of 5%? Chapter 21, covers Miscellaneous Edible Preparations and heading 21.06 covers food preparations not elsewhere specified or included. Further Explanatory Notes to […]
Keeping in view the objective of ensuring orderly trading and settlement, effective risk management, price discovery and maintenance of market integrity, it has been decided that the measures implemented since March 23, 2020 will continue to be in force till June 25, 2020.
In view of the disruptions due to outbreak of COVID- 19 pandemic, it has been decided to extend the time period for completion of remittances against such normal imports (except in cases where amounts are withheld towards guarantee of performance etc.) from six months to twelve months from the date of shipment for such imports made on or before July 31, 2020.
While these initiatives have greatly helped Trade, one of the areas where physical interface has continued in Imports is the Bill of Entry amendment process. The amendments are filed only in the Service Centre along with paper copy of the checklist for approval by the proper officer.
In respect of working capital facilities sanctioned in the form of cash credit/overdraft, lending institutions are being permitted to allow a deferment of another three months, from June 1, 2020 to August 31, 2020, in addition to the three months allowed on March 27, 2020 on payment of interest in respect of all such facilities outstanding as on March 1, 2020.
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (May 22, 2020) decided to: reduce the policy repo rate under the liquidity adjustment facility (LAF) by 40 bps to 4.0 per cent from 4.40 per cent with immediate effect;
Article copiles orders related to Insolvency and Bankruptcy Code of Supreme Court, High Courts, National Company Law Appellate Tribunal, National Company Law Tribunal, Special Courts and Insolvency and Bankruptcy Board of India. A. Order of Supreme Court Anuj Jain Interim Resolution Professional for Jaypee Infratech Limited Vs. Axis Bank Limited Etc. Etc. [Civil Appeal Nos. […]
It is further requested that time of supply of goods or services or both be defined as receipt of money or money equivalent towards supply of goods or services or both and the supplier discharges tax liability on receipt basis proportionate to amount received, inclusive tax. Similarly, a supplier shall avail Input Tax Credit (ITC) proportionate to the payments made within the period of time specified of and reverse credit on non payment of supplies received.
