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GST Revenue collection for April 2021 sets new record

May 1, 2021 7965 Views 0 comment Print

The gross GST revenue collected in the month of April’ 2021 is at a record high of Rs. 1,41,384 crore of which CGST is Rs. 27,837 crore, SGST is Rs. 35,621, IGST is Rs 68,481 crore (including Rs. 29,599 crore collected on import of goods) and Cess is Rs. 9,445 crore (including Rs. 981 crore collected on import of goods).

Timelines for updation of SID & Key Information Memorandum

April 30, 2021 8490 Views 0 comment Print

For the open ended and interval schemes, the SID shall be updated within next six months from the end of the 1st half or 2nd half of the financial year in which schemes were launched, based on the relevant data and information as at the end of previous month. Subsequently, SID shall be updated within one month from the end of the half-year, based on the relevant data and information as at the end of September and March respectively

RoC cannot deactivate Director Identification Number (DIN) : HC

April 30, 2021 4065 Views 0 comment Print

Baalu Renukadevi Vs Union of India (Madras High Court) Rules 9 and 10 of Companies (Appointment and Qualifications of Directors) Rules, 2014 deals with the application for allotment of DIN. Rule 10(6) specifies that the DIN is valid for the life time of the applicant and shall not be allotted to any other person. Rule […]

COVID-19 facility Dashboard for ESIC Hospitals

April 30, 2021 1503 Views 0 comment Print

ESIC, under Ministry of Labour & Employment, in its endeavour to fulfil its social responsibility has taken another step to enhancecitizen centricservices and dissemination of information during the current pandemic.The need of the hour is to increase the number of beds for COVID care. 

ICAI appeal members to contribute generously to CAs’ Benevolent Fund

April 30, 2021 777 Views 2 comments Print

The Institute of Chartered Accountants of India (ICAI) under the banner Chartered Accountants’ Benevolent Fund (CABF) has created a dedicated fund to provide financial assistance to the Members and their dependents in the form of Monthly/One-Time Ex-Gratia/Medical Financial Assistances who are in distress.

Gift cannot be treated as unexplained cash credit u/s 68 merely based on doubts

April 30, 2021 1662 Views 0 comment Print

Tapasi Singh Vs ITO (ITAT Kolkata) It is observed that all the four donors who had given the gifts in question to the assessee during the year under consideration were engaged in the business and in the returns of income filed regularly for the year under consideration, the business income earned by them was duly […]

Rajiv Magoo appointed as member of Maharashtra GST Advance Ruling Committee

April 29, 2021 2361 Views 0 comment Print

Shri. Rajiv Magoo, Joint Commissioner of Central Tax has been appointed as member of Maharashtra GST Advance Ruling Committee in the place of Ms. P. Vinitha Sekhar. FINANCE DEPARTMENT Madam Cama Marg, Hutatma Rajguru Chowk, Mantralaya, Mumbai 400 032, Dated the 29th April 2021. NOTIFICATION MAHARASHTRA GOODS AND SERVICES TAX ACT, 2017. No. GST-1021/C.R. 43/Taxation-1. […]

SEBI extends deadlines under LODR regulation

April 29, 2021 3825 Views 0 comment Print

SEBI Extended deadline for the quarter / half year / year ending March 31, 2021 for certain provisions of the SEBI (Listing Obligations Disclosure Requirements) Regulations, 2015 due to the CoVID-19 pandemic. Securities and Exchange Board of India CIRCULAR No. SEBI/HO/CFD/CMD1/P/CIR/2021/556  April 29, 2021 To All entities that have listed their specified securities All Recognized […]

IRDAI fines Max Life Insurance Company Ltd

April 28, 2021 1383 Views 0 comment Print

Max Life argued that there was no clarity prior to the issue of Outsourcing regulations,2017 that training activity falls within the definition of Outsourcing and that there was no uniform practice across the Industry.

Section 54 deduction eligible on Expense to Make House Habitable

April 28, 2021 2124 Views 0 comment Print

Sudeep Chandra Vs ITO (ITAT Hyderabad) Cost of acquisition is the price paid by the assessee for the purchase of the house and also the expenditure towards the repairs made by him to make the house habitable and no other expenditure is to be allowed u/s 54 of the Act. As regards the details of […]

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