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CENVAT credit on reinsurance services for insuring business risks allowable

January 28, 2021 1167 Views 0 comment Print

In the instant case, the reinsurance services availed by the Appellant are for insuring its business risks and not in respect of any particular motor vehicle. Reinsurance, by its nature, pertains to the insurance of business of the Appellant.

Banks may use ratings of ‘CRISIL’ for risk weighting their claims for capital adequacy purposes

January 27, 2021 621 Views 0 comment Print

Banks may therefore, use the ratings of the CRISIL Ratings Limited for the purpose of risk weighting their claims for capital adequacy purposes. The rating-risk weight mapping for the long term and short-term ratings assigned by CRISIL Ratings Limited will be the same as was in the case of CRISIL Limited and there is no change in the rating symbols earlier assigned by CRISIL Limited.

RBI framework for strengthening grievance redress mechanism in banks

January 27, 2021 2688 Views 0 comment Print

To further strengthen the customer grievance redress mechanism in banks, it has been decided to put in place a comprehensive framework comprising of, inter-alia, enhanced disclosures by banks on customer complaints, recovery of cost of redress from banks for the maintainable complaints received against them in OBOs in excess of the peer group average,

Writ filed against constitutional validity of Section 16(4) of GST Act, 2017

January 27, 2021 11901 Views 0 comment Print

Surat Mercantile Association & 5 Other(S) Vs Union Of India & 2 Other(S) (Gujarat High Court) 1. We have heard Mr. Vinay Shraff, the learned counsel assisted by Mr. Parth Shah, the learned counsel appearing for the writ applicants. 2. The subject matter of challenge in the present writ application is to the constitutional validity […]

Constitution of Maharashtra Consumer Welfare Fund under MGST Act, 2017

January 27, 2021 483 Views 0 comment Print

Constitution of Maharashtra Consumer Welfare Fund w.e.f. 1st July 2017 under Maharashtra Goods and Services Tax Act, 2017. Also Read- Constitution of Standing Committee under rule 97(4) of Maharashtra GST Rules, 2017 FINANCE DEPARTMENT Madam Cama Marg, Hutatma Rajguru Chowk, Mantralaya, Mumbai 400 032, dated the 27th January 2021 NOTIFICATION MAHARASHTRA GOODS AND SERVICES TAX […]

Notification No. 11/2021-Customs (N.T./CAA/DRI), Dated: 27/01/2021

January 27, 2021 14187 Views 0 comment Print

Notification No. 11/2021-Customs (N.T./CAA/DRI) [G.S.R. 453(E)], Dated: 27/01/2021 – Reg. Appointment of Common Adjudicating Authority. Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Directorate of Revenue Intelligence Notification No. 11/2021-Customs (N.T./CAA/DRI) New Delhi, dated 27.01.2021 S.O. 448(E). – In pursuance of notification No. 60/2015-Customs (N.T.), published vide […]

Anti-dumping duty on PTFE from Russia, Korea RP & China- Reg.

January 27, 2021 4236 Views 0 comment Print

Case No. ADD-AC – 03/2020 Anti-Circumvention investigation concerning alleged circumvention of (i) anti-dumping duty imposed on imports of Polytetrafluoroethylene (PTFE) originating in or exported from Russia by imports of Polytetrafluoroethylene (PTFE) exported from Korea RP and (ii) anti-dumping duty imposed on imports of Polytetrafluoroethylene products (PTFE products) originating in or exported from China PR.

Constitution of Standing Committee under rule 97(4) of Maharashtra GST Rules

January 27, 2021 510 Views 0 comment Print

Constitution of Standing Committee under sub-rule (4) of rule 97 of Maharashtra Goods and Services Tax Rules, 2017. FINANCE DEPARTMENT Madam Cama Marg, Hutatma Rajguru Chowk, Mantralaya, Mumbai 400 032, dated the 27th January 2021 Order MAHARASHTRA GOODS AND SERVICES TAX RULES, 2017. No. GST. 1019 / C.R. 43(A)/ Tax-1.— In exercise of the powers […]

Analysis of SC judgment in the case of Manish Kumar Vs. UOI

January 26, 2021 24084 Views 0 comment Print

Judgment dated 19th January, 2021 of the Hon’ble Supreme Court of India in the matter of Manish Kumar Vs. Union of India and Another [WP(C) No. 26 of 2020 with 40 other writ petitions]

Nationalised Banks (Management and Miscellaneous Provisions) Amendment Scheme, 2021

January 25, 2021 3492 Views 0 comment Print

14A. Special provision.—Where a nationalised bank is required by law to do any act or thing and in order to do so the recommendations or determination of, or resolution of grievances of security holders by, or in respect of any appointment, approval or review by any Committee of the Board of the bank is required, and if the Board is satisfied that quorum for meeting of such Committee cannot be met on account of either existence of any vacancy in such Committee or recusal by member thereof, the Board may do that act or thing

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