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IBA suggests Bank Branch Statutory Audit from a remote location

April 7, 2020 2868 Views 0 comment Print

Furthermore, Branch Statutory Auditors should conduct the audit operations from a remote location primarily relying on the data available in CBS and they should physically visit the branches only for urgent and unavoidable matters.

Ensure availability of essential goods- CG advises State/UT Govts

April 7, 2020 339 Views 0 comment Print

State/Union Territory Governments are advised to take urgent steps to ensure availability of these essential goods, by invoking provisions of the Essential Commodities (EC) Act 1955. These measures include fixing of stock limits, capping of prices, enhancing production, inspection of accounts of dealers and other such actions.

Procedure for assessment in cases of non submission of Original COOC

April 7, 2020 807 Views 0 comment Print

In the light of unprecedented situation caused by COVID-19 pandemic and due to lockdown resulting in temporary inability for receipt of physical copy of Country of Origin Certificate (COOC), the Trade / Importers have approached for clearance of goods against the photocopy of COOC which they have received electronically from the exporter / supplier overseas.

Clarification on Permitted Activities during Lockdown in Private Sector

April 7, 2020 972 Views 0 comment Print

Clarification Regarding List of Permitted Activities during Lockdown in the Private Sector. The category of various permitted activities during Lockdown was stated in the Order dated 26th March, 2020. More such activities were included vide Order dated 4th April, 2020.

Section 44DA prevails over Section 44BB after amendment w.e.f. 01.04.2011

April 6, 2020 14208 Views 0 comment Print

Paradigm Geophysical Pty Ltd. Vs CIT (Delhi High Court) After 01.04.2011, income falling within the scope of Section 44DA (1) of the Act would be excluded from the scope of Section 44BB of the If the income of a non-resident is in the nature of fees for technical services or royalty, it shall be taxable […]

DGFT removed restrictions on export of 12 APIs and 12 formulations

April 6, 2020 1209 Views 0 comment Print

Foreign Trade Policy, 2015-20, the Central Government hereby makes following amendment in the chapter 29 and 30 of the Schedule 2 of the ITCHS Export Policy amending the Notification No. 50/2015-20 dated 03.03.2020 related to export Policy of APIs and formulations made from these APIs:

Supply of Medical Oxygen smooth and hassle-free

April 6, 2020 234 Views 0 comment Print

As part of maintaining smooth supply of essential items in the country, Union Home Secretary, Shri Ajay Kumar Bhalla has written to all State Chief Secretaries to give special attention on keeping the supply of medical oxygen smooth and hassle-free.

SC Guidelines For Court Functioning via Video Conferencing during Covid-19 Pandemic

April 6, 2020 1491 Views 0 comment Print

All measures that have been and shall be taken by this Court and by the High Courts, to reduce the need for the physical presence of all stakeholders within court premises and to secure the functioning of courts in consonance with social distancing guidelines and best public health practices shall be deemed to be lawful;

Consolidated Guidelines of MHA on Lockdown measures

April 5, 2020 1029 Views 0 comment Print

Consolidated Guidelines on the measures to be taken by Ministries/Departments of Government of India, State/Union Territory Governments and State/Union Territory Authorities for containment of COVID-19 Epidemic in the Country, as notified by Ministry of Home Affairs Order No. 40-3/2020-DM-1 (A) dated 24.03.2020 and further modified on 25.03.2020, 27.03.2020, 02.04.2020 and 03.04.2020.

ICAI FAQs on Modified LLP Settlement Scheme, 2020

April 4, 2020 5403 Views 1 comment Print

Revised Frequently Asked Questions on LLP Settlement Scheme, 2020 issued by the Ministry of Corporate Affairs, Government of India on 4th March, 2020 and modified as on 30th March, 2020 The Ministry of Corporate Affairs has provided a one-time opportunity to the LLPs to make good their default by filing pending documents and to serve […]

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