Thursday, August 6, 2020

SEBI notifies the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2020

The Security and Exchange Board of India (SEBI) on Wednesday notified the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second...

Government extends tenure of SEBI Chairman Ajit Tyagi

The Appointments Committee of the Cabinet has extended the tenure of the incumbent Securities and Exchange Board of India (SEBI) Chairman Ajit Tyagi for...

MCA issues Clarification on dispatch of Notice by Listed entities for Rights issue opening upto 31st December, 2020

The Ministry of Corporate Affairs (MCA) on Monday issued a clarification on dispatch of notice by Listed entities for rights issue opening under section...

CA November 2020 Exams: ICAI List of Additional Exam Centres Released

The Institute of Chartered Accountants of India (ICAI) on Tuesday released the list of additional exam centres for the upcoming CA November 2020 session. In...

SEBI issues circular on Extension of use of DSC for Authentication till Dec 31st

The Securities and Exchange Board of India ( SEBI ) has issued a circular on extension permitting the use of digital signature certifications (DSC)...

COVID-19: ICSI notifies Temporary relaxation in Regulations 46BA and 46BB of the Company Secretaries Regulations 1982

The Institute of Company Secretaries of India (ICSI) on Monday notified the temporary relaxation in Regulations 46BA and 46BB of the Company Secretaries Regulations...

“Short-Term challenges that have Negatively affected Working Capital Requirement of Exporters and SMEs”: In Conversation with Amit Parmar, SVP, VAYANA Network

Amit Parmar is a Senior Vice President in GST Platform, Vayana Network. Amit brings in 11 years of experience in Banking and Technology. In...

“If the Exports are Cramped or Crippled it shall have a Very Serious and a Direct effect on the Nation’s Economy”: In Conversation with...

Mr. S. Jaikumar, Powered by a decade of hands-on experience in the Customs and Central Excise department, An Advocate founded the pan-India tax law...

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Madras High Court dismisses CA ’s plea seeking to direct Institute of Cost Accountants of India to use acronym ICOAI instead of ICAI [Read...

The Madras High Court dismissed CA ’s plea seeking to direct the Institute of Cost Accountants of India to use the acronym ‘ICOAI’ instead...

Professionals like Chartered Accountants, Lawyers are now eligible to avail Govt’s Credit Guarantee Scheme for MSMEs

The government on Saturday expanded the scope of the scheme to include ‘individual loans given for business purposes’ within the ambit of the Emergency...

Madras HC upholds DRP’s order in favour of Renault Nissan in computing Deduction [Read Order]

The Madras High Court while upholding the order of Dispute Resolution Panel (DRP), ordered in favour of the assessee, Renault Nissan in computing deduction. The...

GST: Work Contracts are applicable on Immovable Property, where Goods and Services aren’t distinct, says AAR

The Maharashtra Authority of Advance Ruling (AAR) ruled that Work Contracts are applicable on immovable property, where goods and services are not distinct. The Applicant,...

GST Portal restores GST Returns data for the year 2017

The Goods and Services Tax ( GST ) Portal has restored the GST Returns data for the year 2017. In a statement published in GST...

GST: Amount recovered from Other Government departments for doing Research Work & Study, to make policies is exempted, rules AAR

The Madhya Pradesh Authority of Advance Ruling (AAR) ruled that the amount recovered by the applicant, Atal Bihari Vajpayee Institute of Good Governance &...

GST: Citing COVID-19 pandemic, Delhi HC allows Samsonite to deposit Profiteered Amount within 6 months [Read Order]

The Delhi HC via video conferencing allows Samsonite to deposit the principal profiteered amount of Rs. 21.2 crores (after adjustment of Rs. 3 crores...

GST Revenue July 2020: ₹87,422 crore gross revenue collected in July

The gross GST revenue collected in the month of July 2020 is ₹ 87,422 crore of which CGST is ₹ 16,147crore, SGST is ₹...

Service Tax not applicable on Collection of Octroi for Entry of Goods in discharge of Sovereign Privilege: CESTAT [Read Order]

The Customs, Excise s, Service Taxes Appellate Tribunal (CESTAT), Mumbai Bench held sovereign privilege that the service tax is not applicable to the collection of Octroi for...

Centre notifies Establishment of Central Consumer Protection Authority [Read Notification]

The Central Government establishes the authority for the Consumer Protection as a body corporate namely Central Consumer Protection Authority (CCPA). The CCPA is established under...

Expenses Received as Reimbursement of Expenses made on behalf of Service Recipient can’t form part of Assessable Value, No Service Tax: CESTAT

The Customs, Excises, and Service Tax Appellate Tribunal (CESTAT) held that expenses received as reimbursement of expenses made on behalf of service recipients by...

Levy of Service Tax on CICS/CCS would be applicable only in case of Pure Service Contracts: CESTAT [Read Order]

The Customs, Excise, Service Tax Appellate Tribunal (CESTAT) held that the levy of service tax on Commercial or Industrial Construction Service (CICS) or Construction...

No Service Tax leviable on Linking of Signals from the Satellite is Transmission of Signals: CESTAT [Read Order]

The Customs, Excise, Service Tax Appellate Tribunal (CESTAT), while setting aside the order of the Commissioner held that no service tax is leviable on...

CESTAT set aside order of demand of Service Tax, Penalty and Interest against Adani Power [Read Order]

The Customs, Excise, Service Tax Appellate Tribunal (CESTAT) set aside the order of demand of service tax, penalty, and interest passed by the Commissioner...
The Income Tax Appellate Tribunal (ITAT), Kolkata bench has held that the provisions of disallowance under section 40(a)(ia) of the Income Tax Act, 1961...
The Noida Customs Commissionerate is organising an 'Orientation Programme' on " Authorised Economic Operator (AEO) " scheme. Mr. S K Sinha, Commissioner of Customs (...
Gujarat National Law University in collaboration with the Insolvency and Bankruptcy Board of India organized a Research Writing Competition on ‘Legal Landscape of Insolvency...

CBIC notifies Sea Cargo Manifest and Transhipment (Second Amendment) Regulations, 2020 [Read Notification]

The Central Board of Indirect Taxes and Customs (CBIC) on Friday notified the Sea Cargo Manifest and Transhipment (Second Amendment) Regulations, 2020. They come into...

Gujarat High Court imposes cost of Rs. 1 Lakh against Excise Officer for not issuing Refund [Read Order]

The Gujarat High Court ordered a cost of Rs.1 Lakh against Excise Officer for not issuing a refund. The petitioner, M/s Century Copper Rod Pvt....

DGFT amends Import Policy of Colour Television sets from ‘Free’ to ‘Restricted’

The Director-General of Foreign Trade (DGFT) on Thursday amended the import policy of color television sets from “free” to “restricted”. In exercise of powers conferred...

CBIC notifies Second Phase of All India roll-out of Faceless Assessment [Read Circular]

The Central Board of Indirect Taxes and Customs (CBIC) on Thursday notified the second phase of All India roll-out of Faceless Assessment. The first phase...

Apple wins $14.9 billion Tax Bill Court fight in EU

Apple has won its court fight over a record $14.9 billion Irish tax bill in what is being described as a serious blow to...

US Supreme Court allows Manhattan DA to get Trump’s Tax Records, going against the Immunity for President from Investigation [Read Judgment]

The United States (US) Supreme Court on Thursday ruled that the Manhattan district attorney may access President Donald Trump’s financial and tax records going...

Impact of COVID-19 on the Financial Reporting Ecosystem

The COVID-19 pandemic is affecting major economic and financial markets and almost all industries. The virus has hit not just people, but businesses and financial...

Saudi Arabia triples VAT by 15% to Counter Oil slump amid COVID-19

Saudi Arabia will triple value-added tax (VAT) and suspend a cost of living allowance for state workers, it said on Monday, seeking to shore...

CA / CWA / CMA vacancy in Accenture

The Accenture has invited applications from eligible candidates for the post of Client Financial Management Analyst. The Accenture is a leading global professional services company,...

Chartered Accountant vacancy in Bank of America

The Bank of America has invited applications from eligible candidates for the post of Assistant Manager. The Bank of America is one of the world’s...

Accounts Manager vacancy in National Health Mission, Odisha

The Odisha State Department has invited applications from eligible candidates for the post of District Accounts Manager under National Health Mission, Odisha on contractual...

Staff Accountant vacancy in Amazon

Amazon has invited applications from eligible and interested candidates for the post of staff accountant. Amazon.com, Inc., is an American multinational technology company based in...

COVID-19: Punjab Govt extends Deadline for Outstanding House Tax, Property Tax

The Punjab State Government has extended the deadline to pay the outstanding house tax or property tax without any penalty till June 30, 2020. Likewise,...

State / Local Authority can realise Tax / Fees on Erection of Mobile Towers: Chhattisgarh HC [Read Judgment]

The Chhattisgarh High Court has upheld the validity of the rules issued by the Chhattisgarh State Government where it notified the authority of local...

Kerala High Court quashes Govt Order on Puducherry registered Vehicles [Read Judgment]

A single bench of the Kerala High Court recently passed a judgment that clarified the legal stance concerning a debated issue of whether the...

Toll Tax in Highways: Telangana High Court asks to produce List of Exempted Dignitaries

While considering to grant an interim relief in connection with a writ petition filed by advocates D Vidyasagar and S Naresh, the Telangana High...

CBDT issues Norms for Compounding of Offences under Direct Tax Law, 2019 [Read Guidelines]

The Central Board of Direct Taxes ( CBDT ) has issued a detailed guidelines for compounding offences under the direct tax law replacing the...

BCD urges NCT’s to consider Law Offices under “residential and public purpose” for Property Tax and requests to remove Professional Tax on Lawyers

The Bar Council of Delhi wrote a letter to the NCT’s Lieutenant Governor raising concern against Professional Tax on lawyers, a charge of property...

Madras High Court dismisses CA ’s plea seeking to direct Institute of Cost Accountants of India to use acronym ICOAI instead of ICAI [Read...

The Madras High Court dismissed CA ’s plea seeking to direct the Institute of Cost Accountants of India to use the acronym ‘ICOAI’ instead...

SC sentences Former Revenue Official to 1 year in Jail for demanding Rs. 300 as a Bribe two decades ago [Read Order]

The Supreme Court, while upholding the order of the Punjab and Haryana High Court,  dismissed the appeal of a former Patwari, an official Revenue...

Delhi HC dismisses PIL to include ‘Profession of Advocates’ under MSME Act [Read Order]

The Delhi High Court on Wednesday dismissed a public interest litigation (PIL) challenging the eligibility criteria to access the development and promotional schemes under...

COVID 19 – Tax Losses – Back for a Better Future

Tax Losses Carryback (‘TLCB’) is a system that allows taxpayers to set-off losses of the current year against the profits of past years. Globally,...

CIC rejects RTI filed by Wife seeking Income Tax Return details of Husband [Read Order]

The Central Information Commission has observed that the wife is not entitled to seek the information of Income Tax Returns filed by her husband...

DMD Advocates advises Infradigital Technologies in selling its Production and Distribution Division

The DMD Advocates has advised Infradigital Technologies Private Limited, a company promoted by Eros Labs Pte. Ltd. in selling its business undertaking engaged in the...