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Bullion Exchange & Bullion Clearing Corporation to comply with conditions specified by IFSCA

December 6, 2022 900 Views 0 comment Print

The Bullion Exchange and Bullion Clearing Corporation shall comply with conditions specified by IFSCA from time to time.

Rejected paddy seed not fit for human consumption merit classification under chapter heading 100610

December 6, 2022 1362 Views 1 comment Print

In re Shraddha Traders (GST AAR Chhattisgarh) (a) Rejected paddy seed would merit classification under chapter heading 100610, subject to the compliance of the stipulations and conditions as mentioned in the Section note and chapter note specified therein. (b) The exemption from whole of tax as provided under Sr. no 70 of Notification no. 02/2017-Central […]

IRDAI (Appointed Actuary) Regulations, 2022

December 5, 2022 4077 Views 0 comment Print

A. These Regulations may be called Insurance Regulatory and Development Authority of India (Appointed Actuary) Regulations, 2022. B. The Insurance Regulatory and Development Authority of India (Appointed Actuary) Regulations, 2017 and any amendments made thereafter shall be repealed from the date these Regulations come into force.

IRDAI (Regulatory Sandbox) (Amendment) Regulations, 2022

December 5, 2022 1482 Views 0 comment Print

These Regulations may be called the Insurance Regulatory and Development Authority of India (Regulatory Sandbox) (Amendment) Regulations, 2022.

IRDAI (Actuarial Report and Abstract for Life Insurance Business) (Amendment) Regulations, 2022

December 5, 2022 2049 Views 0 comment Print

These regulations may be called the Insurance Regulatory and Development Authority of India (Actuarial Report and Abstract for Life Insurance Business) (Amendment) Regulations, 2022.

IRDAI (Assets, Liabilities and Solvency Margin of General Insurance Business) (Amendment) Regulations, 2022

December 5, 2022 3204 Views 0 comment Print

These regulations may be called the Insurance Regulatory and Development Authority of India (Assets, Liabilities and Solvency Margin of General Insurance Business) (Amendment) Regulations, 2022.

GST under RCM not applicable on services rendered in India by Non-Resident Company as same is not import

December 4, 2022 4620 Views 0 comment Print

In re Tokyo Electronic Power Company Holdings INC (GST AAAR Odisha) Supplier of service M/s. Tokyo Electric Power Company (TEPCO) is located in Japan, which is non-taxable territory. The recipient of service M/s. Odisha Power Transmission Corporation Limited is located in India, which is the taxable territory and place of supply of service will be […]

Job work charges should be clearly mentioned in invoices: AAAR

December 4, 2022 2367 Views 0 comment Print

AAR, Odisha objected that in addition to procedural part, there should be specific job work agreement and job work charges should be clearly mentioned and raised in their invoices.

Weekly newsletter from Chairman, CBIC dated: 02.12.2022

December 2, 2022 1950 Views 0 comment Print

Moving on, last week saw the culmination of a well co-ordinated operation which saw Guwahati Customs Division seize over 300,000 sticks of foreign origin Cigarettes being smuggled in multiple consignments through the Courier mode. Kudos to the officers for an excellent detection.

Revised Regulatory Framework for Urban Co-op Banks – Net Worth & Capital Adequacy

December 1, 2022 4761 Views 0 comment Print

UCBs which currently do not meet the minimum net worth requirement, as above, shall achieve the minimum net worth of ₹2 crore or ₹5 crore (as applicable) in a phased manner. Such UCBs shall achieve at least 50 per cent of the applicable minimum net worth on or before March 31, 2026 and the entire stipulated minimum net worth on or before March 31, 2028.

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