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ICAI removes name of 10 Members with effect from 16th December, 2022

December 16, 2022 7797 Views 0 comment Print

ICAI removes name of 10 Members with effect from 16th December, 2022 In terms of the provisions of Section 21B(3) of the Chartered Accountants Act, 1949 read with Rules 18(17) and 19(1) of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007. THE INSTITUTE OF CHARTERED ACCOUNTANTS […]

Notification No. 01/2022-Service Tax, Dated: 16.12.2022 – Tax on Light Dues

December 16, 2022 1842 Views 0 comment Print

According to a practice that was generally prevalent, there was non-levy of service tax, on light-dues collected by the Directorate General of Lighthouses and Lightships under the Lighthouse Act, 1927 (17 of 1927) and this service was liable to service tax, during the said period, which was not being paid as per the said practice.

Govt reduces SAED on Diesel to Rs. 3.5 per litre

December 15, 2022 954 Views 0 comment Print

Notification  No. 43/2022-Central Excise | Dated: 15th December, 2022 – Seeks to further amend No. 04/2022-Central Excise, dated the 30th June, 2022 , to reduce the Special Additional Excise Duty on Diesel vide Notification  No. 43/2022-Central Excise | Dated: 15th December, 2022 MINISTRY OF FINANCE (Department of Revenue) Notification  No. 43/2022-Central Excise | Dated: 15th […]

Govt reduces SAED on production of Petroleum Crude and export of ATF

December 15, 2022 696 Views 0 comment Print

Notification  No. 42/2022-Central Excise | Dated: 15th December, 2022 – Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to reduce the Special Additional Excise Duty (SAED) on production of Petroleum Crude and export of Aviation turbine Fuel (ATF) vide Notification  No. 42/2022-Central Excise | Dated: 15th December, 2022 MINISTRY OF FINANCE (Department of […]

Govt notifies Sovereign Gold Bond Scheme 2022-23

December 15, 2022 1692 Views 0 comment Print

Gold Bonds issued under Sovereign Gold Bond Scheme 2022-23 may be held by a Trust, HUFs, Charitable Institution, University or by a person resident in India, being an individual, in his capacity as such individual, or on behalf of minor child, or jointly with any other individual.

Reporting to CICs – Report Cases admitted with NCLT/NCLAT under IBC 2016 – RBI

December 13, 2022 870 Views 0 comment Print

It is clarified that cases admitted with National Company Law Tribunal (NCLT)/National Company Law Appellate Tribunal (NCLAT) under the Insolvency and Bankruptcy Code, 2016 are also required to be reported under the suit-filed cases in reporting to the CICs.

State Level Committee to Resolve Issues Relating to High-pitched GST Assessments and its Demands

December 13, 2022 1734 Views 0 comment Print

The jurisdiction of the Committee is State and it will receive grievances relating to high-pitched assessment orders passed from the level of Dy. Assistant Commissioners (ST)to Deputy Commissioners (ST) The Head-Quarters of the Committee is CGST Office.

RBI (Financial Statements – Presentation and Disclosures) Directions, 2021 – Disclosure of material items

December 13, 2022 1953 Views 0 comment Print

Reserve Bank of India RBI/2022-23/154 DOR.ACC.REC.No.91/21.04.018/2022-23 Dated: December 13, 2022 Madam/Sir, Reserve Bank of India (Financial Statements – Presentation and Disclosures) Directions, 2021 – Disclosure of material items Please refer to the notes and instructions for compilation of Balance Sheet and Profit and Loss Account, for commercial banks, as specified in Annexure II to the Reserve […]

Food Safety and Standards (Advertising and Claims) Second Amendment Regulations, 2022

December 13, 2022 1422 Views 0 comment Print

These regulations may be called the Food Safety and Standards (Advertising and Claims) Second Amendment Regulations, 2022. They shall come into force on the date of their publication in the Official Gazette.

Eligible entities to hedge their exposure to price risk of gold on exchanges in IFSC

December 12, 2022 327 Views 0 comment Print

On a review, it has been decided to permit eligible entities to hedge their exposure to price risk of gold on exchanges in the International Financial Services Centre (IFSC) recognised by the International Financial Services Centres Authority (IFSCA).

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