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ICAI renames Jammu Branch of NIRC of ICAI

July 29, 2021 999 Views 0 comment Print

Name of ‘Jammu Branch of NIRC of ICAI’ has been changed and the same shall now be known as ‘Jammu and Kashmir Branch of NIRC of ICAI’. The jurisdiction of Jammu and Kashmir Branch shall now cover all members and students within the jurisdiction of Union Territory of Jammu and Kashmir. THE INSTITUTE OF CHARTERED […]

Coconut Development Board (Amendment) Bill, 2021

July 29, 2021 984 Views 0 comment Print

(1) This Act may be called the Coconut Development Board (Amendment) Act, 2021. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.

General Insurance Business (Nationalisation) Amendment Bill, 2021

July 28, 2021 2604 Views 0 comment Print

General Insurance Business (Nationalisation) Amendment Bill, 2021 is introduced in Lok Sabha on 30th July 2021. General Insurance Business (Nationalisation) Amendment Bill, 2021, inter alia, provides for the following:— (i) to omit the proviso to section 10B of the Act so as to remove the requirement that the Central Government holds not less than fifty-one […]

SEBI Imposes Penalty on Ripu Kundra, Shilpa Shetty & Viaan Industries

July 28, 2021 1374 Views 0 comment Print

In Re Ripu Sudan Kundra, Shilpa Shetty & Viaan Industries in the matter of Viaan Industries Limited (SEBI) FACTS OF THE CASE 1. Securities and Exchange Board of India (hereinafter referred to as ‘SEBI’) had conducted an investigation into the trading/dealings in the scrip of Viaan Industries Limited (formerly known as Hindustan Safety Glass Industries […]

Issuance of Export Authorisation for SCOMET Items w.e.f. 05.08.2021

July 28, 2021 1083 Views 0 comment Print

All applicant exporters seeking export authorization for SCOMET items are advised to apply online by navigating to the DGFT website (https://www.dgft.gov.in) -> Services -> Export Management Systems ->SCOMET.

Access for Non-banks to Centralised Payment Systems

July 28, 2021 2019 Views 0 comment Print

Direct access for non-banks to CPS lowers the overall risk in the payments ecosystem. It also brings advantages to non-banks like reduction in cost of payments, minimising dependence on banks, reducing the time taken for completing payments, eliminating the uncertainty in finality of the payments as the settlement is carried out in central bank money, etc.

RBI announces Digital Payments Index (RBI-DPI) for March 2021

July 28, 2021 651 Views 0 comment Print

RBI had earlier announced construction of a composite Reserve Bank of India – Digital Payments Index (RBI-DPI) with March 2018 as base to capture the extent of digitisation of payments across the country.

New proforma (ANF) for filing applications for revalidation of SCOMET export authorisation

July 27, 2021 1185 Views 0 comment Print

The new ANF proforma, namely ANF 20(d) will facilitate the trade and industry to file application for revalidation of SCOMET export authorisation. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan Public Notice No. 17/2015-20 New Delhi, Dated the 27th July , 2021 Subject:- Introduction of […]

Bakery selling eatables on take away basis cannot be treated as restaurant

July 27, 2021 14724 Views 0 comment Print

In Assistant Commissioner, CGST & Central Excise Vs. M/s. Pioneer Bakers (GST AAAR Odisha) During the P.H., the Jurisdictional Officer, Sri Goutam Kumar Biswas(Appellant), Asst. Commissioner, CGST, Sambalpur-I Division stated that the applicant is running a bakery business, where different items likes cakes, bakery items, ice creams, chocolates, drinks & other eatable products are sold […]

Benches of Tribunal must strictly adhere to period of limitation prescribed by SC

July 26, 2021 2043 Views 0 comment Print

F No. 01(05)/Circular/CESTAT/2021 Customs, Excise and Service Tax Appellate Tribunal West Block No. 2, R.K. Puram, New Delhi-110066 Dated: 26.07.2021 OFFICE MEMORANDUM It has come to notice that the Benches of the Tribunal have been adopting different standards in determining the period of limitation in appeals which are filed beyond the period of limitation contemplated […]

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