CGST Delhi West officials arrest one for fraudulently availing ITC of more than Rs 8 crore On the basis of an alert, an investigation against M/s Niyati Steels has been undertaken by CGST Delhi West Commissionerate. One Shri Karan Kumar Aggarwal in his voluntary statements has admitted that he looks after all day-to-day transactions and […]
Tax Audit is one of the important areas of practice for chartered accountants. The provisions of section 44AB introduced in the year 1984 casts onerous responsibility on Chartered Accountants. With the changing times and Trade and Commerce becoming more complex, such responsibility is increasing every passing day. Over the years, the Institute of Chartered Accountants […]
DRI detects Customs duty evasion of Rs. 2,217 crore by M/s. Vivo Mobile India Pvt. Ltd. During an investigation pertaining to M/s Vivo Mobile India Private Limited (hereinafter referred to as ‘M/s Vivo India’), the Directorate of Revenue Intelligence (DRI) has detected Customs duty evasion of around Rs 2,217 crore. M/s Vivo India is a […]
All Gujarat Federation of Tax Consultants has made a representation related to Withdrawal of GST on Pre-Packaged Labeled food items on 02nd August, 2022. Please find attached herewith the copy of the representation. We thank the Chairman and the Members of the Representation Committee of & Chairman & Members of the Indirect Tax committee for […]
Income Tax Department conducts searches on Healthcare Provider Groups in Haryana and Delhi-NCR The Income Tax Department carried out search and seizure operations on 27.07.2022 on several groups engaged in the healthcare services by running hospitals. A total of 44 premises were covered during the search action in Delhi-NCR. During the course of the search […]
Government has implemented several legislative and policy measures for e-commerce keeping in mind the retailers. Some of these measures are FDI Policy; Foreign Exchange Management Act, 1999; Consumer Protection (E-Commerce) Rules, 2020; Consumer Protection Act, 2019; Competition Act, 2002; Central Goods and Services Tax (CGST) Act, 2017; Information Technology Act, 2000; Payment and Settlement Systems […]
Department for Promotion of Industry and Internal Trade (DPIIT) is spearheading the initiatives under Ease of Doing Business and Reducing Compliance Burden which are aimed at creating a conducive business environment. The key focus areas of the initiatives are: (i) Simplification of procedures related to applications, renewals, inspections, filing records, etc., (ii) Rationalization by repealing, amending […]
India achieves landmark milestone, over 75000 startups recognised so far These numbers tell the power of a vision to see innovation and drive growth, says Piyush Goyal Latest 10000 startups recognised in 156 days compared to initial ten thousand startups in 808 days 7.46 lakh jobs created by the Indian startup ecosystem 49% of startups […]
EXPOSURE DRAFT – INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA (EXPENSES OF MANAGEMENT OF INSURERS TRANSACTING LIFE INSURANCE BUSINESS) REGULATIONS, 2022
Insurance Regulatory and Development Authority of India Ref. No: Date: _________ EXPOSURE DRAFT – INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA (OTHER FORMS OF CAPITAL) REGULATIONS, 2022 1. The Authority is in receipt of requests to review the Regulations from the stakeholders. Therefore, the current regulations on issuance of Other Forms of Capital (OFC) by […]
