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Circulars

Clarifications in relation to Fund Management Entities and Schemes set up in IFSCs by Sovereign Wealth Funds

March 1, 2023 864 Views 0 comment Print

The ceiling of 10% investment from FME or its associates in case of Venture Capital Schemes and Restricted Schemes [regulations 28(1) and 40(1), respectively], shall not be applicable;

IFSCA: Net worth requirements for a Bullion Exchange & Bullion Clearing Corporation

March 1, 2023 1506 Views 0 comment Print

A Bullion Clearing Corporation shall also establish and maintain a fund called Core Settlement Guarantee Fund to guarantee the settlement of trades executed on the Bullion Exchange, in accordance with the norms issued from time to time by the The contribution made by Bullion Clearing Corporation to the Core Settlement Guarantee Fund shall be considered as part of its net worth.

RBI increases Fees for Bank audit from FY 2022-23

March 1, 2023 231159 Views 0 comment Print

RBI increases remuneration payable to Statutory Central Auditors (SCAs) & Branch Auditors (SBAs) of Nationalised Banks (NBs) from FY 2022-23

SOP for Cancellation of GST Registration & Repository of Non-genuine Taxpayers

March 1, 2023 49983 Views 0 comment Print

Non-genuine taxpayer is the one who issues invoice under GST Act without actual supply of goods or services to pass on inadmissible tax credit of ITC to the claimant.

Term ‘Sub-standard lives’ mentioned in IRDAI (Health Insurance) Regulations 2016 revised

February 28, 2023 1368 Views 0 comment Print

The underwriting policy shall also cover the approach and aspects relating to offering health insurance coverage. It shall have in place various objective underwriting parameters to differentiate the various classes of risks being accepted in accordance with the respective risk categorization

Service Tax on agreeing to obligation to refrain from an act or to tolerate an act or a situation

February 28, 2023 14451 Views 0 comment Print

It is clarified that activities contemplated under section 66E(e), i.e. when one party agrees to refrain from an act, or to tolerate an act or a situation, or to do an act, are the activities where agreement specifically refers to such an activity and there is a flow of consideration for this activity.

Filing of RPT & BRSR to be made available on NEAPS wef 25.02.2023

February 24, 2023 4068 Views 0 comment Print

Filings for Related Party Transactions (RPT) and Business Responsibility & Sustainability Report (BRSR) will be made available on NEAPS platform with effect from February 25, 2023

Verification of Status of GSTIN of contractor & authenticity of GSTR-3B return

February 24, 2023 2454 Views 0 comment Print

GOVERNMENT OF JAMMU AND KASHMIR FINANCE DEPARTMENT (CODES DIVISION), Civil Secretariat, Jammu/Srinagar ***** Circular Subject: Verification of Status of GSTIN of the contractor and authenticity of GST-3B return through the Peridot App (available in the Playstore) or from the State Taxes Department. It has come to the notice of Finance Department that dealers/contractors whose GSTIN […]

Application form for setting up of IBC or OEC at IFSC

February 23, 2023 729 Views 0 comment Print

Application form for setting up of International Branch Campus (IBC) or Offshore Education Centre (OEC) at International Financial Services Centre (‘IFSC’)

Mandatory upload of Withdrawal/ KYC documents to enable Parallel Processing of Exit & Annuity for benefit of NPS Subscribers

February 22, 2023 1077 Views 0 comment Print

Common proposal for Exit from NPS and for buying annuity from ASP facilitates parallel processing of Lump sum component and Annuity due to which the time taken by ASPs while issuing Annuity Policies is significantly reduced which result in faster Subscriber servicing and timely Annuity issuance.

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