Bilateral Agreement for Exchange of “CbC Reports” signed between India and USA
Sub-section (4) of Section 286 of the Income-tax Act, 1961 requires that a constituent entity of an international group, resident in India,
Continue readingBusiness News
Department of Telecommunications | Deadline extended for testing and certification of mobile phone till August, 2019
Government of India has yet again extended the deadline to begin domestic testing and certification of telecom equipment amid industry concerns on
Continue reading
SEBI (Delisting of Equity Shares) Regulations, 2015 –“Timelines for Counter Offer Process”
SEBI (Delisting of Equity Shares) Regulations, 2015 has been amended to allow promoter(s)/acquirer(s) to make “Counter offer”, in case price discovered through
Continue reading
INDIA-US Trade Issues
The United States of America on 05-03-2019 gave a 60-day withdrawal notice to India on the Generalized System of Preferences (GSP) benefits
Continue reading
RBI | Four PSU banks fined in respect of “deficient regulatory compliance”
As reported by ANI, Four Public Sector Banks have been fined by Reserve Bank Of India. The stated banks are Corporate Bank
Continue reading
Government e Marketplace (GeM) and Competition Commission of India (CCI) Sign MoU for detection of Anti-Competitive Practices
Government e Marketplace (GeM) and Competition Commission of India (CCI) entered into a Memorandum of Understanding on 6th February 2019 to enable a
Continue reading
SEBI constitutes ‘Research Advisory Committee (RAC)’
In order to strengthen its research function and enhance its linkage to policy making, SEBI has constituted a Research Advisory Committee headed
Continue reading
Fair Trade Practices | Service charge despite GST
Charging of Service Tax is not valid. The Government in April 2017 issued guidelines on fair trade practices related to charging of
Continue reading
MoCI | Ad-hoc National Committee of Domestic Council for Gems and Jewellery
Gems and Jewellery Domestic Council An Ad-hoc National Committee of Domestic Council for Gems and Jewellery consisting 14 Members representing various associations
Continue reading
MoCI | FDI Policy on E-Commerce
In order to ensure due compliance of the FDI policy on e-Commerce, Press Note 2 (2018) has been issued. It puts in
Continue reading
GST Revenue Collections for the month of January 2019 crosses Rupees One Lakh Crore Mark
The total gross GST revenue collected in the month of January, 2019 is Rs 1,02,503 crore of which CGST is Rs 17,763 crore,
Continue reading
Justice B N Srikrishna’s report declares former CEO of ICICI Bank Chanda Kochhar guilty of violating Bank’s Code of Conduct
As reported by media, the board of ICICI Bank had appointed Retired Supreme Court Judge, Justice Srikrishna to investigate in regard to
Continue reading
Requirement for obtaining PAN card under Section 139A of IT Act, 1961 eased for corporate assessees
In case of a company, an application for incorporation, allotment of Permanent Account Number (PAN) and allotment of Tax Deduction and Collection
Continue reading
Guidelines for issuance of debt securities by Real Estate Investment Trusts and Infrastructure Investment Trusts
1. SEBI (Real Estate Investment Trusts) Regulations, 2014 (“REIT Regulations”) and SEBI (Infrastructure Investment Trusts) Regulations, 2014 (“InvIT Regulations”) were amended vide
Continue reading
Removal of prohibition on export of all varieties of edible oils, except mustard oil
S.O.(E)- In exercise of the powers conferred by Section 3 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992)
Continue reading
SEBI issues clarification on clubbing of investment limits of foreign Govt/foreign Govt related entities
SEBI has been monitoring investment by foreign Governments and their related entities viz. foreign central banks, sovereign wealth funds and foreign Governmental
Continue reading
Steering Committee on Corporate Social Responsibility (CSR) constituted
The Ministry of Corporate Affairs vide Office Order dated 04.04.2018 announced the constitution of a Steering Committee on Corporate Social Responsibility (CSR)
Continue reading
RBI prohibits dealing in Virtual Currencies by regulated entities
Reserve Bank has repeatedly through its public notices on December 24, 2013, February 01, 2017 and December 05, 2017, cautioned users, holders
Continue reading
Process for registration as Registered Valuer with IBBI under the Companies (Registered Valuers and Valuation) Rules, 2017
With an objective to familiarise the eligible and desirous individuals and entities with the process of registration as a valuer with the
Continue reading
MCA removes applicability of AS 22 & Indian AS 12 to certain Govt Companies
Vide Notification No. S.O. 529(E), dated 5th February, 2018 it was specified that provisions of Accounting Standard 22 or Indian Accounting Standard 12
Continue reading