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Seize ₹ 3.83 Cr from Dynamatic CEO in Insider Trading case: SEBI

June 27, 2020 1449 Views 0 comment Print

Dr. Udayant Malhoutra Vs SEBI (Securities Appellate Tribunal, Mumbai) 1. The present appeal has been filed against an ex-parte order dated June 15, 2020 passed by the Whole Time Member (‘WTM’ for short) of Securities and Exchange Board of India (‘SEBI’ for short) directing the appellant to deposit a sum of Rs. 2,66,59,215/-plus interest till […]

NIL Form GSTR-1 filing via SMS from 1st week of July 2020

June 27, 2020 5241 Views 1 comment Print

NIL statement in Form GSTR-1 can now be filled via SMS from the 1st week of July 2020 NIL statement in Form GSTR-1 can now be filled via SMS from the 1st week of July 2020.  Previously on 8th June, a similar facility for the Form GSTR-3B had been announced. This will benefit approx 12 […]

Use of acronym ICAI by Institute of Cost Accountants of India

June 26, 2020 7386 Views 3 comments Print

This section in no way refers to the Acronym ICAI. The Institute of Cost Accountants of India in no way has used a Name or Common Seal which is identical with the name or the common seal of the Institute of Chartered Accountants of India. Thus, the alleged violation is completely wrong.

Floating Rate Savings Bonds, 2020 (Taxable) – FRSB 2020 (T)

June 26, 2020 7473 Views 0 comment Print

The Government of India, hereby notifies the issue of Floating Rate Savings Bonds, 2020 (Taxable); Short Name – FRSB, 2020(T) with effect from July 1, 2020.

Suggestions for names for standard products for Dwellings & Small Business in segment of Standard Fire & Special Perils

June 26, 2020 582 Views 0 comment Print

The occurrence of catastrophic events, largely floods, in the last few years has seen huge losses to property, in particular, to dwellings and small business. The protection gap stands out, both in terms of property not being insured and those not being adequately insured.

Guidelines on Covid Standard Health Policy

June 26, 2020 915 Views 0 comment Print

Every insurer offering Corona Kavach Policy shall provide a certificate of insurance to the policyholder indicating the availability of health insuarnce coverage.The certificate shall have a reference to access detailed terms and conditions of the policy contract. I

Vijetha Supermarkets guilty of profiteering: NAA

June 26, 2020 1137 Views 0 comment Print

Shri M. Srinivas Vs Vijetha Supermarkets Pvt. Ltd. (National Anti-Profiteering Authority) The Applicant had alleged that the Respondent had not reduced the selling price of the “Frozen Green Peas”, when the GST rate was reduced from 5 % to Nil w.e.f. 01.01.2019 with denial of Input Tax Credit, vide Notification No. 25/2018-Central Tax (Rate) dated […]

One time Opportunity for revocation of Cancellation of GST Registration

June 25, 2020 22320 Views 1 comment Print

Taxpayer were unable to get their cancellation of registration revoked despite having fulfilled all the requirements for revocation of cancellation of registration; the said Act being a new Act, these taxpayers could not apply for revocation of cancellation within the specified time period of thirty days from the date of service of the cancellation order

Launch of new DGFT platform & Digital delivery of IEC related services

June 25, 2020 3687 Views 0 comment Print

i. Access to the services would be through a username and password based system. The first time logins/user ID may be created through a registration process on the new platform. ii. For user ID creation, registered mobile number/email ids of the IEC holders will be a mandatorily required. The same will be authenticated by the process of OTP/email based authentication process.

Summary of GST Notifications Published on 24th June 2020

June 25, 2020 4290 Views 0 comment Print

CA Viral K. Chheda CBIC issued 10 Notification/Instructions on 24.06.2020 to give effect to amendments made by Finance Act, 2020, to substitute table annexed to Rule 7 related to GST Composition Dealers specifying GST Composition Scheme Tax Rates, to Notify Amendments related to interest to be payable as per section 50 of the CGST Act […]

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