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Advisory on GST Registration & Return for Online Money Gaming Providers
Advisory: Person supplying of Online Money Gaming services or OIDAR or Both– Form GST REG-10 and Form GSTR-5A General: In terms of the recent amendments made in the CGST/SGST Act, the IGST Act and the...
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Latest Amendments to GST Rules: Key Updates September 2023
Introduction: In 2023, significant amendments were introduced to the Central Goods and Services Tax (GST) Rules, bringing about important changes and clarifications in the GST framework. These changes...
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Compliance Alert: Significant Beneficial Ownership Rules 2018
Institute of Chartered Accountants of India (ICAI) has issued an important announcement dated October 18, 2023, addressing the sensitization of companies to comply with the provisions of Section 90 of...
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CBDT Introduces Form 15CD for IFSC Unit Remittances
Introduction: The Central Board of Direct Taxes (CBDT) has introduced significant changes in the realm of tax regulations, amending rule 37BB and introducing a new Form No. 15CD. These changes primari...
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Goa (Recovery of Arrears of Tax, Interest, Penalty, Other Dues through Settlement) Act, 2023
The Goa (Recovery of Arrears of Tax, Interest, Penalty, Other Dues through Settlement) Act, 2023 (Goa Act 34 of 2023) (hereinafter referred to as the “GRATIPOS Act”) has been notified vide Notificatio...
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CA Exams in November 2023 Postponed Due to Elections in MP & Chhattisgarh
The Institute of Chartered Accountants of India (ICAI) has made an important announcement regarding the postponement of the Chartered Accountant Examinations scheduled for November 2023. This decision...
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Notification No. 89/2023-Income Tax, Dated: 13/10/2023
The Indian Ministry of Finance has issued Notification No. 89/2023-Income Tax on October 13, 2023. This notification designates Stichting Pensioenfonds ABP as the specified person for eligible investm...
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IFSCA Forms Working Group for NRIs and Registration
The International Financial Services Centres Authority (IFSCA) has taken a significant step towards promoting the development of Non-Resident Individual (NRI) businesses and facilitating easier regist...
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IFSCA (Payment Services) Regulations, 2023
The International Financial Services Centres Authority (IFSCA) plays a crucial role in governing financial products and services in the International Financial Service Centres (IFSC). As part of their...
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IFSCA Invites Suggestions for Fund Management Regulations Review
In a move to streamline financial sector compliance and regulatory measures, the International Financial Services Centres Authority (IFSCA) has issued a call for suggestions regarding the review of th...
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GST Exemption for Gangajal and Puja Samagri: CBIC Clarification
Introduction: The Central Board of Indirect Taxes and Customs (CBIC) recently issued a clarification in response to certain media reports regarding the applicability of the Goods and Services Tax (GST...
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GSTN Simplifies Integration for E-commerce Operators & Unregistered Suppliers
The Goods and Services Tax Network (GSTN) has introduced a streamlined process for e-commerce operators (ECOs) through which unregistered suppliers can provide goods. This includes providing Applicati...
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CBI Initiates Case Against Delhi-Based Company for Violations of FCRA Provisions
Introduction: The Central Bureau of Investigation (CBI) has taken significant action, registering a case against a private company based in Delhi, along with its Director and others. The case centers...
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ICSI requests dispensing Physical Copies for General Meetings of Listed Entities
The Institute of Company Secretaries of India (ICSI) has addressed a letter to Shri S V Murali Dhar Rao, the Executive Director of the Corporation Finance Department at the Securities and Exchange Boa...
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GSTN Enables Unregistered Suppliers to Enroll for E-commerce Goods Supply
The Goods and Services Tax Network (GSTN) has introduced a new facility that allows unregistered suppliers to enroll for the supply of goods through e-commerce operators (ECOs). This development comes...
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ICSI’s Notice on Reporting Entity Registration under PMLA, 2002
The Institute of Company Secretaries of India (ICSI) has released an important notice dated October 11, 2023, addressing all professional colleagues regarding the registration of Reporting Entities un...
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New Shipping Bill Check: Impact on CIF and FOB Values
On the 6th of October 2023, the Directorate General of Systems and Data Management, under the Central Board of Indirect Taxes & Customs, issued an advisory for the trade community. This advisory conce...
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CBDT amends rule 114B, rule 114BA, rule 114BB & Form No. 60
Ministry of Finance, Department of Revenue, Central Board of Direct Taxes (CBDT) has issued Notification No. 88/2023-Income Tax dated 10th October, 2023, bringing substantial amendments to the Income-...
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Union Minister Unveils Automatic ‘Status Holder’ Certificates
Introduction: In a world where international trade plays a pivotal role in the growth of nations, efficiency and transparency in the export process are crucial. In this context, Union Commerce & Indus...
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Clarification with regard to trust audit reports issued by CBDT
The Central Board of Direct Taxes (CBDT), under the Ministry of Finance in India, plays a pivotal role in interpreting and implementing the Income-tax Act. In a recent development, CBDT has issued Cir...