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Notifications/Circulars

Providing Copy of application for initiation of insolvency resolution process to IBBI

February 2, 2021 2544 Views 0 comment Print

Providing copy of application to the Board, as mandated under Rule 9 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. Insolvency and Bankruptcy Board of India 7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001 CIRCULAR No. IBBI/II/39/2021   2nd February, 2021 To All […]

Guidelines for procedures to be followed during GST Search Operation

February 2, 2021 5787 Views 0 comment Print

Specific instances have come to the notice of the Board and Central Vigilance Commission wherein proper procedures have apparently not been followed during search proceedings and/or the Panchnamas/ statements have not been recorded as per extant guidelines &. instructions.

Setting up of LPCC by AMCs of Mutual Funds

February 2, 2021 1149 Views 0 comment Print

The Working Group amongst other suggestions recommended that AMCs of Mutual Funds should set up a Limited Purpose Clearing Corporation (LPCC) for clearing and settling repo transactions in corporate debt securities by contributing an amount of INR 150 Crore.

Revised Framework for Innovation Sandbox

February 2, 2021 1197 Views 0 comment Print

The capital market in India has been an early adopter of technology. SEBI believes that encouraging adoption and usage of financial technology (‘FinTech’) would have a profound impact on the development of the securities market. FinTech can act as a catalyst to further develop and maintain an efficient, fair, transparent and inclusive securities market ecosystem.

Draft Static and Mobile Pressure Vessels (Unfired) (Amendment) Rules 2021

February 2, 2021 2481 Views 0 comment Print

(1) these rules may be called the Static and Mobile Pressure Vessels (Unfired) (Amendment) Rules 2021. (2) They shall come into force on the date of their publication in the Official Gazette.

Tariff Notification No. 13/2021-Customs (N.T.), Dated: 02.02.2021

February 2, 2021 1179 Views 0 comment Print

Tariff Notification No. 13/2021-Customs (N.T.), Dated: 02.02.2021 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 New Delhi, the 2nd February, 2021 No. 13/2021-CUSTOMS (N.T.) S.O. 489(E).—In exercise of the […]

Food Safety and Standards (Prohibition and Restrictions on Sales) Second Amendment Regulations, 2021

February 2, 2021 1104 Views 0 comment Print

These regulations may be called the Food Safety and Standards (Prohibition and Restrictions on Sales) Second Amendment Regulations, 2021.

Notification No. 14/2021-Customs (N.T./CAA/Extension/DRI) Dated: 02.02.2021

February 2, 2021 1806 Views 0 comment Print

Notification No. 14/2021-Customs (N.T./CAA/EXTENSION/DRI) [S.O. 526 (E)], Dated: 02.02.2021- Appointing Common Adjudicating Authority MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) (Directorate of Revenue Intelligence) New Delhi, the 2nd February, 2021 Notification No. 14/2021-Customs (N.T./CAA/EXTENSION/DRI) S.O. 526 (E).—In exercise of powers conferred upon by first proviso to section 28(9) of […]

Only individual (person) can render services as an IP

February 2, 2021 942 Views 0 comment Print

In the matter of CIRP of Murli Industries Limited, the DC notes that the invoices for the services rendered by Mr. Iyer were raised in the name of his firm, i.e., DTTILLP. Section 206 of the Code clearly provides that only individual (person) can render services as an IP. Section 5 (13) defines the term […]

Budget 2021: Exhaustive analysis of Excise & Custom Duty Changes

February 1, 2021 48699 Views 1 comment Print

The Finance Minister has introduced the Finance Bill, 2021 in Lok Sabha today, that is 1St February, 2021. Changes in Customs, Central Excise, GST law and rates have been proposed through the Finance Bill, 2021. To prescribe effectives rates of duty, following notifications are being issued:

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