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SOP on extension of time limit to apply for revocation of cancellation of GST registration

March 10, 2022 31011 Views 0 comment Print

SOP on extension of time limit to apply for revocation of cancellation of GST registration

SEBI increased limit for investment in public issue via UPI mechanism to Rs. 5 lakh

March 8, 2022 1947 Views 0 comment Print

In order to bring about uniformity in the requirements and for ease of investment for investors, it has been decided to increase the limit for investment through UPI mechanism to Rs. 5 lakh.

RBI Guidelines on Issue of Preference Shares/ Debt Capital Instruments for UCBs

March 8, 2022 7317 Views 0 comment Print

Reserve Bank of India RBI/2021-22/179 DOR.CAP.REC.92/09.18.201/2021-22 March 08, 2022 The Chief Executive Officer All Primary (Urban) Co-operative Banks Madam / Dear Sir, Issue and regulation of share capital and securities – Primary (Urban) Co-operative Banks The Banking Regulation (Amendment) Act, 2020 (No. 39 of 2020), notified in the Gazette of India on September 29, 2020 […]

Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit – Extension

March 8, 2022 14607 Views 1 comment Print

Revised interest equalisation rates under the Scheme will now be 3 per cent for MSME manufacturer exporters exporting under any HS lines, and 2 per cent for manufacturer exporters and merchant exporters exporting under 410 HS lines (after excluding 6 HS lines pertaining to Telecom Sector as mentioned above).

Disclosure of underwriting philosophy of offering Health Insurance Coverage to Transgender persons

March 7, 2022 1047 Views 0 comment Print

Reference is drawn to the provisions of IRDAI (Health Insurance) Regulations, 2016 in accordance to which every insurer shall evolve a health insurance underwriting policy covering approach and aspects relating to offering health insurance coverage not only to standard lives but also to substandard lives. Attention is also drawn to provision of The Transgender Persons (Protection of Rights) Act, 2019.

Automation of disclosure requirements under SEBI Takeover Regulations

March 7, 2022 4248 Views 0 comment Print

a. Triggering of disclosure requirement due to acquisition or disposal of the shares, as the case may be, by the acquirer together with persons acting in concert (PACs). b. Triggering of disclosure requirement in case the shares are held in physical form by the acquirer and/or PACs. c. Listed companies who have not provided PAN of promoter(s) including member(s) of the promoter group to the designated depository or companies which have not appointed any depository as their designated depository.

TNGST Act, 2017-conduct of test purchase – guidelines

March 7, 2022 14859 Views 0 comment Print

Section 67(12) of the TNGST Act 2017 states that, the Commissioner or an Officer authorised by him may cause purchase of any goods or services or both by any person authorised by him from the business premises of any taxable person, to check the issue of tax invoice or bills of supply by such taxable person and on return of goods so purchased by such officer, such taxable person or any person in charge of the business premises shall refund the amount so paid towards the goods after cancelling any tax invoice / bill of supply issued earlier.

Customs Suggested list of items in toolkit for Anti evasion teams

March 4, 2022 1536 Views 0 comment Print

With a view to enhance the efficiency and professionalism of officers/teams deployed for carrying out anti-evasion/anti-smuggling work, particularly when they are required to search premises, vehicles; verify a stock of goods; draw up a panchnama or to arrest a person away from their office premises, Board has received a suggestion that a standard toolkit may be provided.

Income Tax on contribution in PF account exceeding Rs. 5 lakh per annum

March 4, 2022 4317 Views 0 comment Print

Income Tax payable on the contribution in a PF account exceeding Rs. 5 lakh per annum w.e.f. financial year 2021-22-reg. Ministry of Finance Department of Expenditure O/o Controller General of Accounts, GPO Complex, E-Block, INA New Delhi. TA-3-07001/7/2021-TA-III-Part (1)/cs-8084/81 | Dated: 04.03.2022 OFFICE MEMORANDUM Subject: Income Tax payable on the contribution in a PF account […]

Investment in Umbrella Organization by Primary (Urban) Co-op Banks

March 3, 2022 2553 Views 0 comment Print

RBI has accorded regulatory approval to National Federation of Urban Co-operative Banks and Credit Societies Ltd. (NAFCUB) in June 2019 for formation of Umbrella Organization (UO) for the UCB Sector. The approval inter-alia permits UCBs to subscribe to capital of the UO on voluntary basis.

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