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Notifications/Circulars

Legal Metrology (Packaged Commodities) Amendment Rules, 2021

November 2, 2021 18717 Views 0 comment Print

Department of Consumer Affairs issued Legal Metrology (Packaged Commodities) Amendment Rules, 2021  The Department of Consumer Affairs has issued the Legal Metrology (Packaged Commodities) Amendment Rules, 2021 which are as follows: 1. When one or more packages intended for retail sale are grouped together for being sold as a retail package on promotional offer, every […]

Revised PCA Framework for Scheduled Commercial Banks wef 01.01.2022

November 2, 2021 1935 Views 0 comment Print

The existing PCA Framework for SCBs has since been reviewed and revised. The provisions of the revised PCA Framework will be effective from January 1, 2022.

Guidelines for disallowing debit of electronic credit ledger under Rule 86A

November 2, 2021 16479 Views 0 comment Print

CBIC issued Guidelines for disallowing debit of electronic credit ledger under Rule 86A of the CGST Rules, 2017. It explains Grounds for disallowing debit of an amount from electronic credit ledger, Proper authority for the purpose of Rule 86A, Procedure for disallowing debit of electronic credit ledger/blocking credit under Rule 86(A) and Allowing debit of […]

Salient features of SEBI NCS Regulations, 2021

November 2, 2021 10770 Views 0 comment Print

SEBI NCS Regulations, 2021 has made in-principle approval of the Stock Exchange(s) mandatory for listing of non-convertible securities, whether issues under public issue or on private placement basis. [Regulation 6]

Format of Deceleration of Income Tax Deduction Claimed & House Rent Receipt

November 2, 2021 24153 Views 0 comment Print

Proof of savings/documents viz. insurance premium receipt, NSC, Infrastructure Bond, PPF Bank Statement, Housing Loan Certificate from bank, rent receipt, Copy of House Owner’s Pan Card etc

Procedure for utilising MEIS Scrip for payment of customs duty

November 1, 2021 13041 Views 2 comments Print

It has been informed by the trade that the facility of recording of transfer and ownership details of MEIS scrip is not functional on the DGFT website for some time now. As a temporary measure, the following procedure is prescribed for an importer intending to utilize the MEIS Scrip for payment of customs duty.

SOP on application filed under SEBI (LODR) Regulations, 2015 w.r.t. Scheme of Arrangements

November 1, 2021 3639 Views 0 comment Print

Standard Operating Procedure (SOP) on application filed under Regulation 37 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 w.r.t. Scheme of Arrangements

Master Circular- Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs

November 1, 2021 4239 Views 0 comment Print

With a view to moving towards international best practices and to ensure greater transparency, ’90 days’ overdue1 norms for identification of NPAs have been made applicable from the year ended March 31, 2004. As such, with effect from March 31, 2004, a non-performing asset is a loan or an advance where:

Notification No. 89/2021-Customs (N.T.), Dated: 02.11.2021

November 1, 2021 945 Views 0 comment Print

Notification No. 89/2021-Customs (N.T.), Dated: 02.11.2021 – Appointment of Common Adjudicating Authority MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi, the 1st November, 2021 Notification No. 89/2021-Customs (N.T.) S.O. 4585(E).—In exercise of the powers conferred by Sub-section (1) of section 4 and sub­section (1) of section 5 of […]

CBDT notifies ‘E Settlement Scheme, 2021’

November 1, 2021 6912 Views 0 comment Print

CBDT notifies ‘E Settlement Scheme, 2021’ vide Notification No. 129/2021-Income Tax Dated: 1st November, 2021.  ‘E Settlement Scheme, 2021’ shall be applicable to pending applications in respect of which the applicant has not exercised the option under sub-section (1) of section 245M of the Act and which has been allotted or transferred by Central Board […]

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