Government of Karnataka notified Karnataka Shops and Commercial Establishments (Second Amendment) Act, 2020 and amended Section 15 of the Karnataka Shops and Establishments Act to allow carry forward of leave upto 45 days. As per amendment total number of the days of leave that may be carried forward to a succeeding year shall not exceed […]
Several representations are being received by the Board in respect of IGST refunds which are pending due to mis-match of data between GSTR- 1 & GSTR-3B. The resolution to the above problem was provided by the Board, as an interim measure, vide Circular No. 12/2018-Cus dated 29.05.2018 read with Circular No. 25/2019-Cus dated 27.08.2019 in respect of Shipping Bills filed upto 31.03.2019.
Under the new Customs Post Clearance Audit (PCA) scheme there are Transaction Based Audit (TBA), Premise Based Audit (PBA) and Theme Based Audit (ThBA) and upon review thereof the findings are:
AD Category – I banks may allow resident individuals to make remittances under LRS to IFSCs in India, subject to the following conditions: i. The remittance shall be made only for making investments in IFSCs in securities, other than those issued by entities/companies resident (outside IFSC) in India.
OFFICE ORDER NO. 37 OF 2021 With the approval of the Competent Authority, the term of ad-hoc appointment of the following IRS Officers to the grade of Joint Commissioner of Income Tax (JCIT) is further extended from 01.01.2021 till they join to the grade of JCIT on regular basis or till the Retirement/VRS of officials, whichever is earlier: –
1. (1) These regulations may be called the Competition Commission of India (Manner of Recovery of Monetary Penalty) Amendment Regulations, 2021. (2) They shall come into force on the date of their publication in the official Gazette.
Reserve Bank of India has released today the Draft Reserve Bank of India (Credit Derivatives) Directions, 2021. Comments on the Draft Directions are invited from banks, market participants and other interested parties by March 15, 2021.
Boiler Operation Rules, 2021- Supervision of operation of boiler.– The owner of a single boiler or two or more boilers connected in a battery or of many separate individual boilers situated within a radius of fifty meters having a total heating surface exceeding one thousand square meters in any of the cases shall not use the same or permit the same to be used unless the boiler or boilers are placed in direct charge of a competent person specified in rule 4 in addition to such number of boiler attendants as specified in these rules:
It’s now three months since the drive against the fraudulent use of fake GST invoices was launched in the second week of November, 2020. As on 13th February, 2021, the department has made 3046 cases and unearthed about 9294 fake GSTINs in just these 3 months.
Directions are being issued to allow posting and collection of margin for permitted derivative contracts between a person resident in India and a person resident outside India.
