GUJARAT AUTHORITY FOR ADVANCE RULING
New NPS contribution rule: PFRDA reduces timeline of contributions made from July 1; three important things to know
New NPS rules: The new NPS contribution timeline allowing for same-day investment will come into force on July 1, 2024, as per a circular issued by PFRDA on June 28, 2024.
What would Japanese intervention to boost a weak yen look like?
Amid market uncertainties and political pressures, Prime Minister Fumio Kishida considers intervening to stabilize the yen ahead of the ruling party leadership race. The effectiveness of intervention in addressing public concerns over the weak yen and rising living costs remains uncertain.
Banks in a GST fix over RBI's directive to levy penal charges
The Reserve Bank of India's directive to levy penalties only in the form of 'penal charges' is posing a tax dilemma for banks. Banks fear that the indirect tax on such levies would attract the goods and services tax (GST). The new rule, which came into force from April 1, 2024, was brought in by the central bank to ensure "reasonableness and transparency" in disclosure of penal interest. However, banks have asked the tax authorities to spell out their stand on the issue.
DPDP rules nearly ready, industry consultations likely soon: Ashwini Vaishnaw
Consultative process planned for DPDP Act rules. Creating a digital by-design platform for implementation. Stakeholder feedback crucial for final rules.
Non-refundable Covid advance no longer available under EPFO
According to an EPFO circular dated June 12, since Covid is no longer a pandemic, the competent authority has decided to discontinue the said advance with immediate effect and this would be applicable to even exempted establishments.
EPF account withdrawal rule changed: EPFO discontinues Covid-19 advance facility
During the Covid-19 pandemic, a non-refundable advance was provided to the EPF members during the outbreak of first wave of Covid-19 and another advance was also allowed in view of second wave
- Go To Page 1
Gujarat: Ex-cricketer and TMC MP Yusuf Pathan gets notice for 'encroachment'
The BJP-ruled Vadodara Municipal Corporation (VMC) has issued a notice to former cricketer and newly elected Trinamool Congress MP Yusuf Pathan for allegedly encroaching on VMC-owned land. The notice, served on June 6, followed former BJP corporator Vijay Pawar's allegation that Pathan constructed a compound wall on the plot despite the state government rejecting VMC's 2012 proposal to sell it to him.
Instant flour mixes for dosa, idli, dhokla cannot be classified as sattu; 18% GST should be levied: GAAAR
The company sells flour mixes of gota, khaman, dalwada, dahi-wada, dhokla, idli and dosa in powder form and pleaded that it is akin to Sattu and should attract Goods and Services Tax (GST) of 5 per cent. The GAAAR rejected the appellant's contention, saying that ingredients which go into the making of 'instant flour mixes" are not covered under the relevant GST rules as is the case with Sattu.
Bad taste for ‘aam aadmi’: How adulterated mangoes pose fresh headache for regulators, consumers
The use of banned chemicals to ripen fruits is prevalent despite penalties and laws. The ball is in the food safety regulator’s court.
US election officials split on AI disclosure rules for political ads
FEC officials are divided over whether to require disclosure of AI-generated content in political ads. FCC Chair Rosenworcel supports the proposal, citing concerns about misleading deep fakes. Vice Chair Weintraub agrees, emphasizing the need for transparency. Chair Cooksey opposes, arguing it would cause chaos for campaigns.
Stock brokers push lending; InsuranceDekho’s latest acquisition
Happy Tuesday! Tech-first broking companies are looking to diversify into the credit business to build a larger financial services play. This and more in today’s ETtech Morning Dispatch.
India arrested four Lankan ISIS suspects not 'religious extremists': SL Defense secretary
Sri Lankan nationals arrested in India for alleged links with ISIS are described by the Sri Lankan government as drug addicts, not religious extremists.
Gujarat HC takes suo motu cognizance of Rajkot game zone fire, calls it man-made disaster
A special bench of the Gujarat High Court took suo motu cognizance of the fire incident at a game zone in Rajkot, calling it a 'man-made disaster' due to lack of necessary approvals for such zones.
EU industry chief urges US to pass new tech rules, foster shared digital market
EU's industry chief calls for new tech regulations for global digital market. Leading in tech regulation with DMA and AI Act. U.S. facing antitrust lawsuit against Apple by Department of Justice.
Israeli tanks advance further in Rafah as heavy fighting continues in Gaza
Israeli forces escalated military strikes in Gaza, with heavy fighting in Jabalia and tanks advancing into Rafah. At least five Palestinians were killed and others are trapped under rubble. The southern city of Rafah faced explosions and smoke as tanks pushed further into the Jneina district. Israel aims to retrieve hostages and dismantle Hamas. This has caused mass displacement and aid shortages in Gaza.
In divided Iran, president's death met by muted mourning and furtive celebration
Iran declared five days of mourning for President Ebrahim Raisi, who, along with Foreign Minister Hossein Amir Abdollahian, died in a helicopter crash. While loyalists prayed in mosques, daily life continued with minimal disruption. Opposition groups quietly celebrated Raisi's death, reflecting his controversial legacy, particularly his role in cracking down on women's rights and executing dissidents. Many Iranians doubt his death will change the country's hardline governance. The subdued response contrasts with past public grief for figures like Qasem Soleimani, indicating Raisi's divisive impact.
Pune: Automatic Rs 10,000 challan at petrol pumps for not having this document. Check latest rule
Pune Traffic Rule: Authorities in India working on stricter regulations to reduce vehicular pollution, promoting eco-friendly fuels and electric vehicles. Pune authorities have developed automated system using advanced cameras at petrol pumps to penalize vehicles without valid PUC certificates. Waiting for official confirmation on timeline for implementation. Drivers may have a grace period to renew PUC certificates.
Authorised car dealers can claim input tax credit on demo cars: AAR
GST Authority ruled dealers can claim input tax credit on demo cars. Landmark Cars East Pvt Ltd sought ruling on taxation aspects, specified time period for inward supply to potential Mercedes Benz car buyers.
States & online gaming regulations; banks tap startups to foil frauds
Happy Monday! In the absence of central government’s self-regulatory mechanisms, states are framing laws for online real money gaming. This and more in today's ETtech Morning Dispatch.
Will you get refund of flat booking amount after cancelling it? Check your state's RERA Act which will decide the extent of recovery
Flat booking refund: There are some states like Maharashtra, Delhi, Madhya Pradesh etc who specify up to how much amount of the booking amount can be forfeited and be refunded if a buyer cancels a booking. Know here the full list of states where flat booking amount refund is specified.
New EPF rule on auto withdrawal claims under 68J; check details
EPF withdrawals: The Employees' Provident Funds Organisation (EPFO) has increased the qualifying limit of Paragraph 68J claims for auto claims processing. EPF subscribers can apply for an advance under Paragraph 68-J of the EPF Scheme for their own and their dependents' medical expenses.
GIFT City bankers may follow global schedule, enjoy five-day work week
The working group said in its recommendations that a five-day work week will align with practices adopted in international financial centres and offshore units of Indian banks. "The government wants to position GIFT City as a major financial hub. All these steps are very important benchmarks for an aspiring international financial centre like GIFT IFSC," said another official.
Income Tax dept is calculating your advance tax liability by tracking these financial transactions: Here's how to check on compliance portal
The Income Tax Department said, "The Income Tax Department receives information of specified financial transactions of taxpayers from various sources. This information is reflected in the Annual Information Statement (AIS) module and is available to the persons/entities for viewing. The value of ‘Significant Transactions’ in the AIS has been used for carrying out this analysis." Read here to know what are these 'specified financial transactions'.
11 convicts' remission annulled; SC sends them back to jail, lambasts Gujarat govt
SC said allowing the convicts to remain out of jail "would be an instance of this court's imprimatur to ignore rule of law and instead aid persons who are beneficiaries of orders" which "are null and void and therefore non est in the eye of law". The court added "it is the primary duty and the highest responsibility of this court to correct arbitrary orders at the earliest and maintain the confidence of the litigant public in the purity of the fountain of justice and thereby respect rule of law".
Gujarat govt issues guidelines for liquor law exemption rules in GIFT City
The licensee shall serve liquor for consumption in the approved "Wine and Dine" facility area only. To get a liquor licence for the "wine and dine" facility, one will have to pay Rs 1 lakh per annum and a Rs 2 lakh security deposit.
PM Modi seeks to revive hinterland finance hub with new sweeteners
Although 400 entities, mostly banks, operate in GIFT City, employing 20,000, it struggles to become a vibrant financial hub. Modi aims to revitalise it as a modern financial and technology center. New rules, expected in April, will allow Indian firms not listed on Indian exchanges to directly list their equity at GIFT City.
AAR ruling could offer advantages to e-commerce platforms facilitating logistic
The GST Authority for Advance Rulings (AAR) in Karnataka has ruled that Juspay Technologies, the company behind the ride-hailing app 'Namma Yatri,' is considered an e-commerce operator under GST regulations. However, the AAR clarified that Juspay Technologies is not required to collect and remit GST on transportation fares, as the supply of passenger transportation does not occur "through" their platform.
Three central PSUs in Gujarat not following 85 pc local hiring rule: Assembly told
These three entities are the AAI, the Oil and Natural Gas Corporation Limited (ONGC) and the Indian Oil Corporation (IOC). In 1995, a government resolution had ordered all the commercial entities, including central PSUs, functioning in Gujarat to hire 85 per cent of their workforce from Gujarat.
Biz can claim ITC on goods procured for distribution to dealers for achieving sales target: GST AAR
The Karnataka-bench of the Authority for Advance Ruling (AAR) has ruled that businesses can claim input tax credit on items like gold coins and white goods procured for distribution to dealers as part of promotional schemes. The AAR stated that these items are not considered gifts as they are issued subject to certain conditions and stipulations.
Load More
