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SEBI (Issue of Capital and Disclosure Requirements) (Third Amendment) Regulations, 2020

July 1, 2020 1872 Views 0 comment Print

1. These regulations may be called the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Third Amendment) Regulations, 2020. 2. They shall come into force on the date of their publication in the Official Gazette.

Due Date for Filing Refund of Voluntary Deposit under MVAT extended

July 1, 2020 6582 Views 0 comment Print

For refund of MVAT Voluntary Security Deposit, date of application has been extended from 31/03/2019 to 31/03/2021 by Maharashtra Government Notification No. VAT-1520/CR. 64/Taxation-1 dated 1st July 2020. FINANCE DEPARTMENT Madam Cama Marg, Hutatma Rajguru Chowk, Mantralaya Mumbai 400 032, dated the 1st July 2020 NOTIFICATION MAHARASHTRA VALUE ADDED TAX ACT, 2002. No. VAT-1520/CR. 64/Taxation-1. […]

CSR Rules, Accounting and Taxation- FAQs

July 1, 2020 39216 Views 2 comments Print

It has been observed that CSR funds have been allocated to hospital or doctors for construction of hospital building or  for their day to day OPD; while doctors are charging Rs 1000 to Rs 1500 per patient. Then, what is the public benefit arising out of CSR activity of this type ?

Loans worth more than Rs 1 lakh crore sanctioned under ECLGS

July 1, 2020 1341 Views 0 comment Print

Under the 100 % Emergency Credit Line Guarantee Scheme (ECLGS) backed by a Government guarantee , Banks from Public & Private Sectors have sanctioned loans worth over Rs. 1 lakh crore as of June 26, 2020, of which more than Rs 45,000 crore has already been disbursed.  This would help more than 30 lakh units of MSMEs & other businesses restart their businesses post the lockdown.

Punjab HC allows private schools to collect tuition/admission fee

June 30, 2020 3975 Views 0 comment Print

Independent Schools’ Association Chandigarh (Regd.) & others Vs State of Punjab and others (Punjab & Haryana High Court) High Court held as follows:- (a) The schools are permitted to collect their admission fee, henceforth. (b) All schools irrespective whether they offered online classes during the lock-down period or not, are entitled to collect the tuition […]

Area Bench of GST Tribunal proposed at Rourkela

June 30, 2020 1227 Views 0 comment Print

The Central tax administration in Odisha has two Commisionerates -one headquartered at Bhubaneswar and the second headquartered at Rourkela. Proposing for an area bench at Rourkela will mostly suit the convenience of taxpayers located within the jurisdiction of Rourkela Commissionerate.

GST applicable on Lease with RLDA for a period of 99 years: AAR

June 30, 2020 6810 Views 0 comment Print

In re Hazari Bagh Builders Pvt. Ltd. (GST AAR Rajasthan) The Applicant Company is registered in the State of Rajasthan and having GSTIN in State of Rajasthan. The Applicant company has entered into a long term Lease Agreement of 99 years with RLDA for undertaking residential & commercial development along with development of financial infrastructure […]

Govt notifies ‘SLS Trust’ as financial institution under RDB Act 1993

June 30, 2020 1911 Views 0 comment Print

Central Government hereby notifies ‘SLS Trust’ as financial institution under sub clause (ii) of clause (h) of section 2 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act, 1993). Extract of Section 2(h) of Recovery of Debts and Bankruptcy Act, 1993 is as follows:- 2. Definitions. – In this Act, unless the context […]

Govt allows export of PPE medical coveralls for COVID-19

June 29, 2020 1149 Views 0 comment Print

DGFT vide Notification No. 16/2015-20 dated 29.06.2020 has allowed the export of PPE medical coveralls for COVID-19 subject to quantitative restriction of 50 lakh units per month. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan New Delhi Notification No. 16/2015-2020 New Delhi, Dated: 29th June, […]

Procedure/criteria for export of PPE Medical Coveralls- COVID-19

June 29, 2020 1206 Views 0 comment Print

DGFT vide Trade Notice No. 17 dated 29.06.2020 has outlined the procedure & criteria for submission of applications & issuance of export licenses under export quota for PPE medical coveralls for COVID-19. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan New Delhi Dated: 29th June, […]

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