Important provisions related to G&J Industry – CEPA between India and UAE effective from 1-5-2022
This article highlights the key provisions of Comprehenstive Economic Partnership Agreement (CEPA) executed between India and UAE as applicable…
Change in FDI Rules – Foreign Exchange Management (Non-debt Instruments) (Amendment) Rules, 2022 to amend Rules 2019
In view of upcoming IPO of LIC of India, the Government has amended Foreign Exchange Management (Non-debt Instruments) (Amendment)…
DGFT issued amendments w.r.t. EPCG authorizations to reduce the compliance burden and enhance ease of doing business
The DGFT vide Public Notice No. 03/2015-2020 dated April 13, 2022 has issued amendments in Chapter 5 of the Handbook…
Reporting of Specified Financial Transactions (SFT) by company under Income Tax Act for FY. 21-22 by 31st May, 2022
Section 285BA of the Income Tax Act, 1961 and Rule 114E of the Income-tax Rules, 1962 require specified reporting…
Audit trail feature in accounting software compulsory from 1st April 2022 for companies
– MCA by virtue of notification no. G.S.R. 205(E) dated 24th March 2021, requires the companies to comply…
DRC-01 Notice is mandatory before concluding Assessment under the GST regime held by Mad. High Court
The Madras High Court, while quashing an assessment order in the case of VRS Traders vs. Union of…
GST authorities may now directly initiate recovery of interest accrued on non-payment of GST due to mismatch in invoices without sending any notice
Background: Effective from 1st January, 2022 the term "self-assessed tax" as per explanation to sub-section (12) to section 75…
How to safeguard against the provision under GST restricting claim of ITC if supplier not filed return on time effective from 1st January, 2022
Background: The new year 2022 is going to bring a significant change in the manner of availing Input Tax…
Clarifications on certain GST Refund related issues through circular dated 17th Nov. 2021
Clarification on certain GST Refund related issues The CBIC vide Circular No. 166/21/2021-GST dated November 17, 2021, issued…