Team Bizsol

MHA Advises States to Follow Test-Track-Treat-Vaccinate Strategy. [ D.O. No. 40-34/2020-DM-I(A) dtd 19th June 2021]

SEBI amends conditions for Mutual Funds entering into plain vanilla Interest Rate Swaps (IRS) for hedging purposes.  [SEBI/HO/IMD/IMD-I DOF2/P/CIR/2021/580 dated 18th June 2021]

Viewing BE option for FAG and Viewing BE details at the time of Amendment Approval in ICES in respect of Faceless Assessment. [JNPT standing order Standing Order No. – 13/2021 dtd 17th June 2021]

CBDT to launch Compliance Check Functionality for Section 206AB & 206CCA to facilitate the process of furnishing information through the functionality. This will enable taxpayer to decide the TDS rate applicable. [CBDT Circular No. F. No. 22967/2021/ITA.II dtd 21st June 2021]

Actuaries (Procedure for Inquiry of Professional and Other Misconduct) Amendment Rules, 2021. [MCA Notification 18th June, 2021]

MCA Notifies Companies (Creation and Maintenance of data bank of Independent Directors) Amendment Rules, 2021. [MCA Notification No. G.S.R. 418(E), Dated: 18.06.2021]  

Comments are invited within 30 days on Employees’ State Insurance Corporation, notified the ESIC COVID-19 RELIEF SCHEME under Section 19 of the Act as a welfare measure for the Insured Persons who are employees under Section 2(9) of the ESI Act under which in case of death of IP due to COVID-19, the eligible dependent …

Comments are invited within 30 days on Employees’ State Insurance Corporation.(21.06.2021) Read More »

SEBI amends requirements for listing of securities on a recognized stock exchange. The Securities Contracts (Regulation) (Amendment) Rules, 2021. [ SEBI Notification dtd 19th June]

Following list of goods cannot be analysed/tested due to non-availability of facility at DYCC JNCH Laboratory.  [JNCH Public Notice No.: 56/2021- dtd 16th June 2021]

Companies (Indian Accounting Standards) Amendment Rules 2021. The following Indian Accounting Standards ( Ind AS ) have been amended : [MCA Notification dtd 18th June 2021]

IBBI invites comments from public from 17th June, 2021 to 31st December, 2021 on Regulations notified under IBC, 2016. [IBBI Press Release No. IBBI/PR/2021/12 ddt 17th June 2021]

System Driven Disclosures has been implemented for members of promoter group and designated persons in addition to the promoters and directors of company under Regulation 7(2) of PIT Regulations pertaining to trading in equity shares and equity derivative instruments i.e. Futures and Options of the listed company (wherever applicable) by the entities. [SEBI Circular No. …

System Driven Disclosures has been implemented for members of promoter group and designated persons.(19.06.2021) Read More »

MSME Relaxation: Extension of Validity of Udyog Aadhaar Memorandum till 31.12.2021. [MSME Notification dtd 16th June 2021]

All the manufacturers and marketing companies are required to revise the MRP of drugs/formulations on which Tax/GST rates have been reduced taking into effect the revised rates of Tax/GST. Recalling or re-labelling or re-stickering on the label of container or pack of released stocks in the market prior to date of notifications, is not mandatory, …

All the manufacturers and marketing companies are required to revise the MRP of drugs/formulations on which Tax/GST rates have been reduced taking into effect the revised rates of Tax/GST.(18.06.2021) Read More »

Exchange Rates for import and export transactions have been notified by CBIC. [Notification No. 54/2021 – Customs (NT) d.t 17.06.2021 dtd 17th June 2021]

Laterals/parts to be used solely or principally with sprinklers or drip irrigation system, which are classifiable under heading 8424, would attract a GST of 12%, even if supplied separately. However, any part of general use, which gets classified in a heading other than 8424, in terms of Section Note and Chapter Notes to HSN, shall …

Laterals/parts to be used solely or principally with sprinklers or drip irrigation system, which are classifiable under heading 8424.(18.06.2021) Read More »

Guaranteeing of loans by Central or State Government for their undertaking or PSU is specifically exempt under said entry No. 34A.  [Circular No. 154/09/2021-GST dtd 17th June 2021]

Services by way of milling of wheat into flour or paddy into rice will attract 5% tax even though the rice / wheat / paddy is for distribution by State Governments under PDS. [Circular No. 153/09/2021-GST dtd 17th June 2021]

Works contract service provided by way of construction such as of rope way shall fall under entry at sl. No. 3(xii) of notification 11/2017-(CTR) and attract GST at the rate of 18%. [Circular No. 152/08/2021-GST]

Clarification in respect of taxability of various services supplied by Centre and State Boards such as National Board of Examination (NBE): (i) GST is exempt on services provided by Central or State Boards ( including the boards such as NBE) by way of conduct of examination for the students, including conduct of entrance examination for …

Clarification in respect of taxability of various services supplied by Centre and State Boards such as National Board of Examination.(18.06.2021) Read More »