Reserve Bank of India hereby specifies the following entities as qualified financial market participants to deal in qualified financial contracts, namely: – a. Entities licensed by RBI to do banking business, but not included in the second schedule to the Reserve Bank of India Act, 1934 (2 of 1934); b. “Export-Import Bank of India” established under the Export-Import Bank of India Act, 1981 (28 of 1981);
1. Kind attention is invited to all the Importer, Exporters, Customs Broker & other stakeholder to PSU banks merger & amalgamation. 2. The following list is of PSU Banks after Merger:-
Tariff Notification No. 28/2021-Customs (N.T.), Dated: 09.03.2021 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 28/2021-CUSTOMS (N.T.) New Delhi, the 9th Mach, 2021 S. O. 1068(E).—In exercise of […]
ORRIGENDUM NOTIFICATION on Initiation of anti-dumping investigation concerning imports of Melamine originating in or exported from the European Union, Japan, Qatar and the United Arab Emirates.
In the Income-tax Rules, 1962, in rule 10V, in sub-rule (12), after the second proviso and before the Explanation, the following provisos shall be inserted, namely:‑ Provided also that the provisions of sub-rules (3) to (12) of rule 10VA shall, mutatis mutandis, apply to the application made under the second proviso as they apply to application made under sub-rule (2) of the said rule:
Deduction of TDS in respect of aggregate Cash Withdrawal above Rs. 20 lakh by an account holder of National (Small) Savings Schemes for non ITR filer under section 194N of I.T. Act 1961.
Now taxpayers having turnover exceeding Rs 50 Crores will have to generate e Invoices effective April 1, 2021. Notification No. 05/2021–Central Tax Dated 8th March, 2021
The week also saw the CGST Gandhinagar Commissionerate unearth a huge case involving a web of 68 fake firms issuing invoices to claim fraudulent GST Input Tax Credit of Rs. 720 crore without the supply of goods. The CGST East Delhi Commissionerate too made two big cases relating to fake invoices.
The exchanges with commodity derivatives segment shall not allow execution of trades without uploading of the UCC details by the members of the exchange. For this purpose, members shall collect after verifying the authenticity and maintain in their back office the copies of Permanent Account Number (PAN) issued by the Income Tax (IT) Department, for all their clients.
It is found that the engagement with and payments for ‘display of advertisement material’ made by the insurer to TVS, A M Motors, Indus, ERAM and Nippon during the period from 2nd November, 2017 to 31st December, 2019 are in contravention of para 15 (5) (d) of the MISP Guidelines. The violation has continued for […]
