Where appellant was given excess subsidy of 25 per cent under Rajasthan Investment Promotion Scheme-2003, appellant was directed to refund same with interest of 12 per cent per annum

Vide decision of Supreme Court of India in ultratech Cement limited vs. State of rajasthan. Facts of the case: Apellant company was engaged in business of manufacturing and marketing of cement and allied products.Additional Chief Secretary (ACS) in revision order held that Kotputli Unit of company was entitled to Capital Investment Subsidy only to [...]

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System based asset classification – Urban Co-Operative Banks (UCBs)

RBI vide notification no. RBI/2020-21/23 dated August 12, 2020 it has been decided to implemented system-based asset classification (i.e. Automated) in urban co-operative [...]

Online Dispute Resolution (ODR) System for Digital Payments

RBI vide notification no. RBI/2020-21/21 dated August 06, 2020 issued advisory to  authorised Payment System Operators (PSOs) to put in place system/s for ODR for [...]

Opening of current accounts by banks – Need for Discipline

RBI vide notification no. RBI/2020-21/20 dated August 06, 2020 has been reviewed and revised instructions on opening of current accounts by banks. They are as under: No [...]

Loans against Gold Ornaments and Jewellery for Non-Agriculture End-Uses

RBI vide notification Nos. RBI/2020-1/19 dated August 06, 2020, issues  With a view to further mitigate the economic impact of the Covid19 pandemic on households, [...]

Fair Practices code for Asset reconstruction companies

RBI vide notification Nos. RBI/2020-21/13 dated 16 July, 2020 Asset Reconstruction Companies(ARCs) are advised to adopt regulatory measures were announced ‘Fair Practices [...]

Extension of due date by furnishing of form GSTR-3B for supply made in the month of August,2020 for taxpayers with annual turnover up to Rs.5 Crores.

GST vide Notification Nos. 54/2020 dated 24th June, 2020, it has been issued that for tax payers having turnover upto Rs. 5 crores based on their principal place of business [...]

Extension of due date for filing Form-GSTR-04

GST vide Notification No. 64/2020 dated 31st August, 2020 extends due date for filing of form GSTR-04 to 31st of October 2020. [...]

Clarification on contribution to PM-CARES Funds as eligible CSR Activity

MCA vide office memorandum F No. CSR-05/1/2020-CSR-MCA dated 28th March 2020, has been clarified that any contribution made to the PM CARES Fund shall qualify as CSR [...]

Special measure under Companies Act, 2013 and Limited Liability Partnership Act, 2008 in view of COVID-19 breakout

MCA vide General Circular No. 11/2020 dated 24th March 2020, it has been decided to reduce their compliance burden and other risks. Reliefs given were as follows: No [...]

Clarification on the spending of Corporate Social Responsibility (CSR) Funds for COVID-19

MCA vide General Circular No. 10/2020 dated 23rd March 2020 is hereby clarified that spending of CSR funds for COVID-19 is eligible CSR Activity. Funds may be spent on [...]

Framework for Regulatory Sandbox

SEBI vide circular No. SEBI/HO/MRD-1/CIR/P/2020/95 dated 05th June 2020 it has been decided to introduce a  framework for  “Regulatory  Sandbox”. Through previous [...]