ITC(HS) 2022 Schedule-1 (Import Policy) is notified in sync with the Finance Act, 2021. Import policy of drones in CBU/CKD/SKD form under HS Code 8806 is `Prohibited’ with exceptions provided for R&D, Defence and Security purposes. Import of drone components shall be ‘Free’. This shall come into force with immediate effect. Government of India Ministry […]
It has been decided that the AMCs of mutual funds shall be required to constitute an Audit Committee. The role, responsibility, membership and other features of the Audit Committee of AMC are detailed in this circular.
A Private Listed InvIT may convert into a Public InvIT on making a public issue of units through a fresh issue and/or an offer for sale in terms of the InvIT Regulations in the manner provided at Annexure – A.
A Private Unlisted InvIT may list its units and convert into a Private Listed InvIT on making a private placement of units through a fresh issue and/or an offer for sale in terms of Chapter IV of the InvIT Regulations in the manner provided at Annexure – A.
(1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2022. (2) They shall come into force on the date of their publication in the Official Gazette.
Non-Appointment CS – penalty reduced – company is suffering from continuous losses and loss for the financial year 2021-22 was Rs. 5.99/- Crores and accumulated losses of Rs.19.74/- Crores, the accumulated losses is more than the paid up share capital, thus resulting negative net worth of Rs.1.74 Crores
With the approval of the Competent Authority, the Direct Tax Regional Training Institutes listed below in column (1) are hereby renamed as Regional Campus of National Academy of Direct Taxes
On the Anti-Evasion front, officers of CGST Delhi East Commissionerate on the basis of data scrutiny detected utilization of excess ineligible credit by an assesse. Further network analysis indicated that the input suppliers of the firm were involved in trading/ supply of goods unrelated to the business activity of the assesse. The entire duty liability has since been accepted and total recoveries in the case are about of Rs. 5 Crores. Congratulations to all the officers for their effort and hard work.
IBBI in association with the Committee on IBC, ICAI, released a publication titled Frequently Asked Questions (FAQs) on Insolvency and Bankruptcy Code, 2016
It has come to notice that in certain cases of first time export of goods, lack of clarity and awareness about the applicability of statutory requirements, has resulted in avoidable delays. Occasionally, the situation is compounded by generic instructions being communicated by the Risk Management System as Compulsory Compliance Requirements (CCRs).
