ICSI Request for relaxation on levy of additional fee in filing of e-forms AOC-4, AOC-4(CFS), AOC-4- XBRL, AOC-4 Non-XBRL and MGT-71 MGT-7A for the financial year ended on 31.03.2021 under the Companies Act, 2013. The Institute of Company Secretaries of India MCA: 2021 December 16, 2021 Shri Rajesh Verma, IAS Secretary Ministry of Corporate Affairs […]
Shopee is a Chinese e-commerce giant which has commenced its operations in India through an entity, SPPIN India Private Limited, held by two holding companies SPPIN 1 Private Limited & SPPIN II Private Limited, both registered in Singapore.
1. IGST exempted on Import of drug used for treatment of black fungus IGST exempted on import of Amphotericin B (the drug required for treating Mucormycosis fungal infection) if imported either free of cost or on payment basis and meant for donating to government or any other relief agencies on the recommendation of State Authority […]
CGST, Mumbai busts fictitious entities availing Input Tax Credit against Fake Invoices; fraudulent transaction of Rs. 6.23 Crore Special Drive detects Tax Evasion of Rs. 3,500 Crore so far; Rs. 460 Crore recovered Anti-evasion Wing, Central Goods and Services Tax Bhiwandi Commissionerate, Mumbai have busted a network of fictitious entities in Maharashtra. The entities were […]
Gujarat Chamber of Commerce & Industry has made a request for Extension of due dates of Income tax returns & submission of Tax audit reports for FY 2020-21 (AY 2021-22) to Smt. Nirmala Sitharaman, Hon’ble Union Minister of Finance. Gujarat Chamber of Commerce & Industry 15th December, 2021/14945 To, Smt. Nirmala Sitharaman Hon’ble Union Minister […]
CGST officers arrest Chartered Accountant for generating fake input tax credit to the tune of Rs. 92 crores. Case involves fake invoice of more than Rs. 500 crores. The officers of CGST, Thane (Rural) Commissionerate have arrested a Chartered Accountant who had generated fake input tax credit to the tune of Rs. 92 crores involving […]
The Income Tax Department carried out search and seizure operations on 08.12.2021 on four Asset Reconstruction Companies (ARCs). Total of 60 premises spread over Mumbai, Ahmedabad, Delhi, etc. have been covered.
Ministry of Corporate Affairs and Financial Intelligence Unit-India sing MoU for data exchange between the two organisations A formal Memorandum of Understanding (MOU) was signed today between the Ministry of Corporate Affairs (MCA) and Financial Intelligence Unit-India, Ministry of Finance for data exchange between the two organizations. The MoU was signed by Shri Manoj Pandey, Joint […]
SHARE OF EXPORTS IN GDP Government has been facilitating, monitoring, assisting and channelizing efforts to increase the exports and thereby its share in GDP through a target-driven approach by engaging all stakeholders, across states and districts. Despite the pandemic, the share of India’s total exports (Good & Services) to GDP was 18.7% in 2020-21, which […]
IMPACT OF COVID-19 ON EXPORTS India’s merchandise exports in April-November 2021 was USD 263.78 billion which is 65.95% of export target of USD 400 billion for 2021-22, while till October 2021, merchandise exports was USD 233.90 billion. Government has increased the present period of realization and repatriation of the amount representing the full export value […]
