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RBI withdraws circular on Foreign Investment in India by FPIs

November 16, 2021 918 Views 0 comment Print

As part of the implementation of the interim recommendations of the RRA 2.0, the A.P. (DIR Series) Circular No.6 dated July 16, 2015 on Foreign Investment in India by Foreign Portfolio Investors is withdrawn with immediate effect by RBI. Reserve Bank of India RBI/2021-22/130 A.P. (DIR Series) Circular No.18 November 16, 2021 To All Authorised […]

RBI withdraws 2 circulars on Credit Default Swaps for Corporate Bonds

November 16, 2021 366 Views 0 comment Print

RBI decided to withdraw the following circulars with immediate effect. a) Introduction of Credit Default Swaps for Corporate Bonds: Date for Operationalisation Changed (PCD. No.12/14.03.04/2011-12) dated October 20, 2011.

RBI withdraws 18 Redundant Circulars

November 16, 2021 660 Views 0 comment Print

Regulations Review Authority (RRA) 2.0 – Interim Recommendations – Withdrawal of Redundant Circulars | Please refer to the Press Release dated November 16, 2021 issued on the captioned subject. 2. The circulars listed in the Annex are withdrawn with effect from close of business today.

SEBI further clarifies on processing of draft schemes filed with stock exchanges

November 16, 2021 1557 Views 0 comment Print

It has been decided to provide further clarifications on the processing of draft schemes filed with the stock exchanges, and make certain amendments to the aforesaid Circular dated December 22, 2020, as provided in the Annexure to this Circular.

Calcutta HC upheld Deletion of addition for Share Capital

November 15, 2021 4341 Views 0 comment Print

Whether on the facts and in the circumstances of the case the Learned Tribunal, erred in law in upholding the order of the CIT (Appeals) by deleting the addition of Rs.11,39,00,000/-made by the Assessing Officer under Section 68 of Income Tax Act, 1961 by disregarding that the assessee could not satisfactorily explain the genuineness of the transactions and creditworthiness of the share applicants in question ?

Strengthening Capacity to deal with cases of crimes against Women

November 15, 2021 672 Views 0 comment Print

I am directed to draw your kind attention to the above mentioned advisories and SOP issued by Ministry of Home Affairs for strengthening capacity to deal with cases of Crimes against Women and to say that Department Related Parliamentary Standing Committee on Home affairs in its 233rd Report has given several recommendations on strengthening the mechanism for dealing with crimes against Women, specially SOPs on registration of FIRs including details on total Zero FIRs filed & disposed and training to Police Personnel on dealing with crimes against Women using BPR&D’s SOP.

SOP for random checking of imported consignments of metal scrap

November 15, 2021 2085 Views 0 comment Print

Director General of Foreign Trade hereby notifies the Standard Operating Procedures (SOP) for random checking of imported consignments of metal scrap with respect to radioactive contamination. MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) New Delhi, the 15th November, 2021 Public Notice No. 37/2015-2020 Subject : Standard Operating Procedures (SOP) […]

GST evasion of Rs. 250 crores detected | ITC of Compensation Cess

November 15, 2021 1947 Views 0 comment Print

Mumbai has made a detection of evasion of Rs. 265 crores and recovered Rs. 250 crores, which is praiseworthy. This is a case of availing ITC of Compensation Cess on coking coal used for captive consumption. The credit of unutilized cess was being consequently claimed as refund on products exported.

SoP for information sharing with GST investigating authorities

November 12, 2021 2934 Views 0 comment Print

Standard Operating Procedure (SoP) for information sharing with GST investigating authorities which includes IP address used for filing of GST Returns, Login details with IP address at the time of registration of taxpayer, Amendment History of Taxpayer and IP address of generation of E-Way Bill along with details. EXCISE & TAXATION DEPARTMENT, HARYANA Vanijya Bhawan, […]

Amendments & additions to IFSCA Banking Handbook & other issues

November 12, 2021 1125 Views 0 comment Print

Based on the feedback received from IBUs certain amendments/additions have been carried out to the contents of the Handbook. The list of such amendments/additions is enclosed in the annexure to this circular.

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