Daily Updates

GST : Amendments to Notification No.12/2017-Central Tax Rate, now Services provided to a Governmental Authority by way of-(a)water supply;(b)public health;(c)sanitation conservancy;(d)solid waste management; and (e)slum improvement and upgradation will be exempt from GST. (21/10/2023)

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GST : Amendments to Notification No.12/2017-Central Tax Rate, now Services provided to a Governmental Authority by way of-(a)water supply;(b)public health;(c)sanitation conservancy;(d)solid waste management; and (e)slum improvement and upgradation will be exempt from GST. [Notification No. 13/2023-Central Tax (Rate) Dated: 19th October 2023]

GST : Amendments to Notification No.11/2017-Central Tax Rate in Sr. 8 & 10 as if the supplier of an input service charges central tax at a rate higher than 2.5%, the credit of input tax charged on the input service in the same line of business in excess of the tax paid or payable at the rate of 2.5% will not be allowed. This amendment impacts the calculation of input tax credit in these scenarios. (21/10/2023)

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GST: Amendments to Notification No.11/2017-Central Tax Rate in Sr. 8 & 10 as if the supplier of an input service charges central tax at a rate higher than 2.5%, the credit of input tax charged on the input service in the same line of business in excess of the tax paid or payable at the …

GST : Amendments to Notification No.11/2017-Central Tax Rate in Sr. 8 & 10 as if the supplier of an input service charges central tax at a rate higher than 2.5%, the credit of input tax charged on the input service in the same line of business in excess of the tax paid or payable at the rate of 2.5% will not be allowed. This amendment impacts the calculation of input tax credit in these scenarios. (21/10/2023) Read More »

RBI/FEMA:RBI amends Master Directions on Know Your Customer (KYC) norms to update certain instructions in accordance with amendments to PML Rules, 2005 (18.10.2023)

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RBI/FEMA: RBI amends Master Directions on Know Your Customer (KYC) norms to update certain instructions in accordance with amendments to PML Rules, 2005, FATF recommendations, and add a new section 55A on FCRA in the master directions. [CIRCULAR NO. RBI/2023-24/69 DOR.AML.REC.44/14.01.001/2023-24 dated 17th Oct 2023]

GST: Advisory issued w.r.t. Person supplying of Online Money Gaming services or OIDAR or Both in Form GST REG-10 and Form GSTR-5A (18.10.2023)

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GST: Advisory issued w.r.t. Person supplying of Online Money Gaming services or OIDAR or Both in Form GST REG-10 and Form GSTR-5A: In view of recent amendments to GST Act and Rules, any person located outside taxable territory making supply of online money gaming to a person in taxable territory, is liable to get registered …

GST: Advisory issued w.r.t. Person supplying of Online Money Gaming services or OIDAR or Both in Form GST REG-10 and Form GSTR-5A (18.10.2023) Read More »

DGFT:It is clarified that re-import of unsold jewellery exported for the purpose of exhibition abroad may be allowed clearances by customs authorities without import license in compliance with applicable customs provisions.(16.10.2023)

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DGFT: It is clarified that re-import of unsold jewellery exported for the purpose of exhibition abroad may be allowed clearances by customs authorities without import license in compliance with applicable customs provisions. [Circular No.5/2023-24 dated 16th Oct 2023]

Company Law: MCA Penalizes company with penalty of Rs.9 lakh for 2 years (Company 3 Lakh, MD & KMP CFO & CS 50K each for each year) for Non-Inclusion of Sexual Harassment Compliances reporting in Board’s Report.(13.10.2023)

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Company Law: MCA Penalizes company with penalty of Rs.9 lakh for 2 years (Company 3 Lakh, MD & KMP CFO & CS 50K each for each year) for Non-Inclusion of Sexual Harassment Compliances reporting in Board’s Report. [Order No. ROC(8)/Adj. Order/454-134(3)/CEETA /Co.No.21494/2023]

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