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New Functionalities for Taxpayers on GST Portal (July, 2022)
1. GST Registration 1 Allow taxpayer to enter multiple trade names Earlier only a single Trade Name was being captured during New Registrations and subsequent amendment in core field for Normal Taxpay...
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Income Tax Department searches Jhansi based Real Estate group
Income Tax Department conducts searches in Uttar Pradesh The Income Tax Department carried out a search operation on 03.08.2022 on a Jhansi based group, engaged in the business of civil contract and r...
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SC explains section 7(5)(b) of IBC 2016 in case of appeal being continuation of original proceedings
Kotak Mahindra Bank Limited Vs. Kew Precision Parts Private Limited & Ors. (Supreme Court) The Hon’ble SC vide its order dated 5th August, held that an appeal being the continuation of original procee...
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IBBI disposes off 6,172 complaints out of 6,231 against service providers under IBC
IBBI disposes off 6,172 complaints and grievances out of 6,231 against service providers under IBC The Insolvency and Bankruptcy Board of India (Grievance and Complaint Handling Procedure) Regulations...
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FRC fined PwC over BT fraud audit failures
Financial Reporting Council Sanctions against PricewaterhouseCoopers LLP and audit partner This Press Notice concerns the outcome of an investigation into the relevant Statutory Auditor(s). The invest...
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ED searches Director of WazirX Crypto-Currency Exchange
ED searches the Director of WazirX Crypto-Currency Exchange & freezes its Bank assets worth Rs 64.67 Crore for assisting accused Instant Loan APP Companies in laundering of fraud money via purchase &...
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Consultation Paper on Green & Blue Bonds as a mode of Sustainable Finance
1. Background 1.1 Sustainable Finance is the process of taking due account of environmental, social and governance (ESG) considerations while making investment decisions in the financial sector, leadi...
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Disclosure of Transaction of Shares not required to be made to SEBI
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS LOK SABHA UN-STARRED QUESTION NO.: 3484 TO BE ANSWERED ON AUGUST 8, 2022 DISCLOSURE OF TRANSACTION OF SHARES SHRI NABA KUMAR SARA...
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RBI is prohibited from disclosing borrower-wise credit information
GOVERNMENT OF INDIA MINISTRY OF FINANCE LOK SABHA UNSTARRED QUESTION NO-3473 ANSWERED ON- 08/08/2022 BANK LOAN FRAUDS 3473. SHRI RITESH PANDEY Will the Minister of FINANCE be pleased to state:- (a) th...
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Steps to protect interests of Fixed Deposit of investors in bank
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES LOK SABHA UNSTARRED QUESTION NO. 3650 ANSWERED ON MONDAY, 8th AUGUST, 2022/ SRAVANA 17, 1943 (SAKA) PROTECTION OF INVESTORS Ϯ36...
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Value of counterfeit notes detected in banking system reduced post demonetization
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS LOK SABHA UNSTARRED QUESTION NO. 3564 TO BE ANSWERED ON 08.08.2022 Circulation of Fake Currency 3564. DR. SANJEEV KUMAR SINGARI:...
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Requests to extend last date for submission of SDD Compliance Certificate
ICSI request SEBI To clarify on the anomalies arising out of the format of SDD Compliance Certificate; and Grant relaxation/ extension for submission of this certificate by 30 days. THE INSTITUTE OF C...
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FRC fined PwC over BT fraud audit failures
Financial Reporting Council Sanctions against PricewaterhouseCoopers LLP and audit partner This Press Notice concerns the outcome of an investigation into the relevant Statutory Auditor(s). The invest...
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GST payable on interest component of EMI of Credit Card loan: Calcutta HC
HIGH COURT OF CALCUTTA: Ramesh Kumar Patodia v. Citi Bank [WPO NO. 547 OF 2019 JUNE 24, 2022 ] Facts: ♦ Petitioner is a holder of a valid Citi Bank Credit Card issued by the respondent no. 1/Bank. He...
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GST Council Newsletter for the month of July, 2022
GST Revenue collection for July, 2022 ₹1,48,995 crore gross GST revenue collected in the month of July, 2022 The gross GST revenue collected in the month of July, 2022 is ₹1,48,995 crore of which CGST...
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No GST on ‘Sarais’ run by religious/charitable trusts
GST has recently been imposed with effect from 18 July, 2022. Certain sections of the media and social media are spreading the message that GST has recently been imposed with effect from 18 July, 2022...
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10 recent policy measures to curb GST evasion by fraudulent persons
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA UNSTARRED QUESTION No. 3634 TO BE ANSWERED ONMONDAY, AUGUST 08, 2022/ SRAVANA 17, 1944(SAKA) PAYMENT OF GST BY REGISTERED DEALER...
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Office Order No.166 of 2022 [ Promotion to the grade of CIT]
No. A-32011/7/2021-Ad.VI Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, The 5th August, 2022. Office Order No. 166 of 2022 Conseque...
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Drugs seized in 8 cases from Gujarat Ports in 2021 & 2022 by DRI
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA UNSTARRED QUESTION NO-3459 ANSWERED ON-MONDAY, AUGUST 8, 2022/SRAVANA 17, 1944 (SAKA) Drugs Seized from Gujarat Port 3459. SHRI...
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Tax on domestically produced Crude Petroleum & export of Petrol, Diesel & ATF
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA STARRED QUESTION NO. *311 TO BE ANSWERED ON MONDAY, AUGUST 8, 2022 WINDFALL TAX ON CRUDE OIL *311. SHRI PASUNOORI DAYAKAR: DR. G...