Competition Commission of India (CCI) Approves Proposed Acquisition of 100% Shareholding and Sole Control of Ingram Micro Inc. by Imola Acquisition Corporation

Competition Commission of India (CCI) Approves Proposed Acquisition of 100% Shareholding and Sole Control of Ingram Micro Inc. by Imola Acquisition Corporation

COMPANY LAW / May 10, 2021 / , , , ,

The Competition Commission of India (CCI) approves proposed acquisition of 100% shareholding and sole control of Ingram Micro Inc. by Imola Acquisition Corporation. The proposed combination concerns the proposed acquisition of 100% shareholding and sole control of Ingram Micro Inc. together with its parent companies (i) GCL Investment Management Inc. and GCL Investment Holding Inc. …

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ICAI Important Announcement Regarding Postponement of CA Intermediate and Final Exams Which are Scheduled to be Held in May 2021

ICAI / April 27, 2021 / , , , , ,

ICAI has recently tweeted an update regarding CA Exams which are scheduled to be held in May 2021, which is quoted as below: Important Announcement regarding Postponement of the ICAI Chartered Accountants Examinations – Final & Intermediate Course which are scheduled to be held in May 2021 in view of the ongoing COVID-19 pandemic. Details: …

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covid-19

A Professional named Sunil Goyal Posted About 10 Actions in this time of COVID if He Would President of ICAI

ICAI / April 23, 2021 / , , , ,

A professional named Mr. Sunil Goyal has posted that as a professional organisation of the country, it is the duty of the ICAI to do something for its members as well as citizens. He posted about 10 actions if he would President of ICAI. 1. Create Covid task force in each and every branch urgently. …

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Industries can Wait for Oxygen, Not COVID-19 Patients: Delhi High Court to Centre

TC / April 23, 2021 / , ,

PTI: The Delhi High Court said sufficient oxygen was not being supplied to COVID-19 patients in the national capital and asked the Centre if it can be diverted from industries which can wait for now. “Industries can wait. Patients cannot. Human lives are at stake,” a Bench of Justices Vipin Sanghi and Rekha Palli said …

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DRI Seizes more than 300 Kg of Cocaine Valued at Approx. Rs. 2,000 Crore in International Market at Tuticorin Port

BUSINESS & ECONOMY / April 21, 2021 /

Based on specific intelligence that cocaine will be concealed in a consignment imported in container reaching VOC Port, Tuticorin, the officers of Directorate of Revenue Intelligence (DRI) have intercepted the container declared to be containing wooden logs. The suspected container has originated from Panama, transited through the ports of Antwerp and Colombo. On examination the …

DRI Seizes more than 300 Kg of Cocaine Valued at Approx. Rs. 2,000 Crore in International Market at Tuticorin Port Read More »

Need an Empty Hospital Bed or a Ramdesivir Injection? Here are Websites Helping Covid Patients. Spread the Message

TC / April 21, 2021 / ,

Some famous companies like Cipla etc. are providing help to COVID patients through websites and helpline numbers. Below attached pictures are showing their web address as well as helpline numbers. Note: Readers must note that the helplines and websites, however useful, may be overburdened. Although, they may offer necessary assistance required by patients in dire …

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Live Coaching Classes Offered by the ICAI for Free of Cost

ICAI / April 18, 2021 / , , , , , ,

The ICAI’s Board of Studies (BOS) has been proactive to adopt different methodologies to reach out to the students and provide quality learning resources, year after year in an incremental manner. The BOS, with an objective to enable the students to sail through the present times, is conducting Virtual Coaching Classes for CA students. These …

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Corona cases

Money will be added to the poor accounts, free ration will be given

BUSINESS & ECONOMY / April 17, 2021

The Yogi government of Uttar Pradesh has once again taken the task of taking a big decision amid increasing cases of corona virus infection. In fact, the Yogi government is planning to provide financial assistance to all workers, poor families. Along with this, free ration will also be given to them. In this regard, a …

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No COVID Lockdown in India from 15 April to 30 April: PIB Fact Check

TC / April 15, 2021 / , ,

PIB Fact Check has posted on twitter that “A Morphed photograph is being claimed that the nationwide lockdown will be imposed by the Indian government from April 15 to 30.” PIB Fact Check: “This claim is fake. No such announcement has been made by the Indian government regarding the lockdown. Please do not share such …

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RBI

RTGS Service will be Unavailable for 14 Hours on 18th April 2021

TC / April 15, 2021 / , , ,

The Reserve Bank of India (RBI) has issued a Press Release to inform that: A technical upgrade of RTGS, targeted to enhance the resilience and to further improve the Disaster Recovery Time of the RTGS system, is scheduled after the close of business of April 17, 2021. Accordingly, RTGS service will not be available from …

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Tax Concept's Representation to Hon'ble Finance Minister and GST Council Seeking Clarification on Reporting of HSN Codes in Tax Invoices as well as in GSTR-1 w.e.f. 1st April 2021

Tax Concept’s Representation to Hon’ble Finance Minister and GST Council Seeking Clarification on Reporting of HSN Codes in Tax Invoices as well as in GSTR-1 w.e.f. 1st April 2021

GST / April 14, 2021 / , , , , , , , , , ,

When we refer relevant notifications, we can consider that above clarifications are not as per law. So, you are requested to please ask the GSTN to make necessary changes in the reporting of HSN Codes in GSTR-1 and not to issue any clarification which is not as per law.

Extension of the due date of filing Application for Revocation of Cancellation of Registration

Updates in Forms GSTR-1, GSTR-3B and Matching Offline Tool for Taxpayers in QRMP Scheme

GST / April 13, 2021 / , , , , ,

With effect from 1st January, 2021, all taxpayers with Annual Aggregate Turnover up to Rs 5 Crore have been given an option to file their Form GSTR-1 Statement and Form GSTR-3B return on a quarterly basis. They also have an option to file B2B invoice details in Invoice Furnishing Facility (IFF) for months 1 and 2 (eg. Jan and Feb) of the quarter in order to pass on the credit, whereas the remaining invoices have to be declared in the Quarterly Form GSTR-1 of Month 3 (e.g. March).

SUPREME COURT

E-filing 3.0 Module Launched by the Supreme Court Allows Client, Advocate and Court to Complete the Proceedings Virtually

TC / April 12, 2021 /

Dr Justice Dhananjaya Y. Chandrachud, Judge, Supreme Court of India and Chairperson, e-Committee of the Supreme Court, inaugurated an e-Filing 3.0 module to allow electronic filing of court documents, through a virtual event. The e-filing 3.0 module, introduced by the e-Committee of the Supreme Court, allows electronic filing of court documents. With the introduction of …

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Be Alert: Fastag Data has been Integrated with E-Way Bill System to Track the Movement

GST / April 8, 2021 / , , ,

The Press Information Bureau has published that “Recently, the Fastag data has been integrated with the e-way bill system. On a daily average, 24 Lakh Fastag transactions from 826 toll plazas, related to commercial vehicles are exchanged between NPCI/NHA and NIC systems. These details will help the GST officers to track the movement of e-waybills using the new analytical reports.”

Employees of Work Places (Government and Private) aged 45 Years or More to be Vaccinated at Work Place Vaccination Centres from 11 April 2021

TC / April 8, 2021 / , ,

The Health Ministry has written to all States and UTs that COVID-19 vaccination sessions may now be organized at workplaces (both public & private) which are having about 100 eligible and willing beneficiaries by tagging these workplaces with an existing COVID Vaccination Center (CVC). To support the States in this initiative, guidelines have been prepared and the same have conveyed by the Union Health Secretary to the States and UTs. These guidelines will support the State and District Programme Managers with the requisite information and guide them on organizing vaccination sessions at such workplaces (both public & private). Such work place vaccination centres may be launched across States/UTs from 11th April 2021.

Country Needs to Come Out of this Tax Culture that “All Businesses are Fraudulent”: Supreme Court

GST / April 6, 2021 / , , , , ,

In a case, Justice Chandrachud today said that “The country needs to come out of this tax culture that ‘all businesses are fraudulent’. Even where 12 crore tax has been paid (by the assessee), just because some tax is still due, you can’t start attaching property! If there is any alienation of assets or the assessee is winding up or going into liquidation, it is understandable. But just because you have the account numbers, you can’t start attaching and even block the receivables!”