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GST on executing works for State & Central Govt authorities & entities

July 7, 2022 2472 Views 0 comment Print

In re Srico Projects Private Limited (GST AAR Telangana) M/s. Srico Projects Private Limited are executing works for State & Central Governmental authorities & Governmental entities. They are desirous of ascertaining the rate of tax on the works contract services rendered by them before 01.01.2022 & after 01.01.2022. Some of the institutions to whom applicant […]

AAR Telangana alllows Panchajanya Lube Solutions to withdraw application

July 7, 2022 456 Views 0 comment Print

In re Panchajanya Lube Solutions (GST AAR Telangana) In the reference 1st cited, M/s. Panchajanya Lube Solutions, Hyderabad, (36ATLPN0939M1Z4) has sought certain clarification by filing an application for Advance Ruling. The Case was posted for personal hearing on 25-11-2021& 24-03-2022 However, in the reference 5th cited, M/s. Panchajanya Lube Solutions, Hyderabad, have informed that they […]

SEBI Cautions against fraudulent calls/e-mails/messages about refund of money

July 7, 2022 516 Views 0 comment Print

SEBI noticed that unscrupulous individuals are trying to cheat public by holding out as officials of Recovery and Refund Department of SEBI and falsely informing them about refund of money in various cases through phone calls/ e-mails/ messages.

Amendment in registration time period of Steel Import Monitoring System

July 7, 2022 13242 Views 0 comment Print

The requirement of advance registration of minimum 15 days from the expected date of arrival of import consignment under SIMS has been abolished. Notification No. 19/2015-2020 | Dated: 7th July, 2022 Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade, New Delhi Notification No. 19/2015-2020 | Dated: 7th […]

SOP prohibiting import of mobile phones with duplicate/fake IMEI

July 7, 2022 2061 Views 0 comment Print

SOP for Implementation of Central Government notification prohibiting import of mobile phones with duplicate, fake and non-genuine International Mobile Equipment Identity (IMEI)

Investment by Foreign Portfolio Investors (FPI) in Debt – Relaxations

July 7, 2022 2862 Views 0 comment Print

It has been decided that investments by FPIs in government securities and corporate bonds made between July 08, 2022 and October 31, 2022 (both dates included) shall be exempted from the limit on short-term investments till maturity or sale of such investments.

Assessee cannot be taxed for sale of property by director by misusing his position 

July 6, 2022 891 Views 0 comment Print

ACIT Vs Anush Infrastructure (P) Ltd (ITAT Chennai) Upon careful consideration of material facts, it could be gathered that the whole basis to make additions in the hands of the assessee is sale agreement dated 24.08.2009 allegedly executed between the assessee and one Mrs. Bhavika Jain. On the basis of this agreement, it has been […]

FCNR (B)/NRE Term deposits: Exemption from CRR/SLR maintenance

July 6, 2022 1899 Views 0 comment Print

Section 42 of the Reserve Bank of India Act, 1934 and Section 18 and 24 of the Banking Regulation Act, 1949 – FCNR (B)/NRE Term deposits – Exemption from maintenance of CRR/SLR

Liberalisation of Forex Flows

July 6, 2022 1068 Views 0 comment Print

Exemption from Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) on Incremental FCNR(B) and NRE Term Deposits

Master Direction on Interest Rate on FCNR(B) and NRE Deposits

July 6, 2022 1332 Views 0 comment Print

Master Direction on Interest Rate on Deposits – Foreign Currency (Non-resident) Accounts (Banks) Scheme [FCNR(B)] and Non-Resident (External) Rupee (NRE) Deposit

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