DGFT Introduces online e- PRC system for application seeking Policy/ Procedure relaxation in terms of Para 2.58 of FTP 2015-20 w.e.f. 25/01/2021 via Trade Notice No. 38/2020-21 dated 15th January’2021 Recent Judgement Honorable High Court of Delhi DRC-03 – Petition is not maintainable, as an alternate efficacious remedy under Rule 159(5) of the CGST Rules, 2017 is available – time limit in the rule is directory Writ petition was preferred seeking cancellation of DRC-03 for reversal of Input Tax Credit
Month: February 2021
Budget Highlights
The Hon. Finance Minister in her budget speech has announced several reforms under the Income Tax. Major Changes Note: The Central Board of Direct Taxes (CBDT) on Monday further extended the due date for filing declaration under the ‘Vivad Se Vishwas’ (VSV) scheme till February 28, 2021. As per a CBDT’s notification, the date for payment of tax without additional interest under VSV remains unchanged at March 31, 2021. Important Judicial Precedents
Recent Amendment by MCA and RBI
In this edition we have tried to bring to your notice the latest amendments that followed in the month of January 2021 issued by MCA and RBI. Amendments issued by MCA Relaxation on levy of additional fees in filing of e-forms AOC-4, AOC-4(CFS), AOC-4 XBRL, AOC-4 Non-XBRL for the financial year ended on 31.03.2020 under the companies ac, 2013. Read More: http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo.4_29012021.pdf In exercise of the powers conferred by section 135 and sub-sections (1) and (2) of section 469 of
KKR raises $3.9 bn for first Asia infrastructure fund: January 2021 Financial News
Global asset manager KKR & Co has closed its maiden Asian infrastructure fund after hitting the hard cap at $3.9 billion (Rs 28,646 crore). The fund will focus on critical infrastructure with low volatility and strong downside protection. It has a broad mandate to invest across emerging and developed countries in the Asia-Pacific in sectors including waste, renewables, power and utilities, telecom, and transport infrastructure. KKR’s Indian infrastructure investments include renewable assets platform Virescent Infrastructure and India Grid Trust. Here are some latest