GST applicability on liquidated damages, compensation and penalty
This circular clarifies the Goods and Services Tax applicability on liquidated damages, compensation, penalties, and other charges arising from breach of contract or under…
Clarification on Goods GST Rates and Classification
This circular clarifies Goods and Services Tax rates and classification for several goods based on recommendations from the GST Council.
IRDAI·03 Aug 2022·Circular·IRDAI/F&I/CIR/INV/165/8/2022
Amendments to Investments Master Circular
The Insurance Regulatory and Development Authority of India approves amendments to the Investment Master Circular for insurance companies.
CBDT·03 Aug 2022·Notification·Notification No. 89/2022/F. No. 370142/26/2019-TPL-Part(1)
Amendment to Notification No. 16/2020 for Bullion Depository Receipt
The Central Government amends notification number 16/2020 to include Bullion Depository Receipt with underlying bullion under section 47 of the Income-tax Act, 1961.
Master Circular on Credit Facilities to Minority Communities
Scheduled commercial banks must ensure a smooth flow of credit to notified minority communities within priority sector lending targets.
CBDT·02 Aug 2022·Notification·Notification No. 88/2022/F. No. 300196/19/2017-ITA-I
Income Tax Exemption for Telangana State Pollution Control Board
The Central Government notifies the Telangana State Pollution Control Board under section 10 clause 46 of the Income-tax Act 1961 for specified income.
Credit Facilities to Scheduled Castes and Scheduled Tribes Master Circular
Scheduled commercial banks must implement specific planning, lending, and monitoring measures to increase credit flow to Scheduled Castes and Scheduled Tribes.
Pension Fund Regulatory and Development Authority introduces a regulatory sandbox framework to nurture innovation in pension and financial planning services.
PAN Application and Allotment Procedure for LLPs via FiLLiP
The Director General of Income-tax Systems specifies the procedure for Permanent Account Number allotment for newly incorporated Limited Liability Partnerships.
Income Tax Exemption for Odisha Electricity Regulatory Commission
The Central Government notifies specified income of the Odisha Electricity Regulatory Commission for income tax exemption under section 10 of the Income-tax Act, 1961.
CPPIB Credit Investments VI Inc. Notified as Specified Pension Fund
The Central Government specifies the pension fund CPPIB Credit Investments VI Inc. as the specified person for section 10 clause 23FE of the Income-tax Act, 1961.
Master Circular on Deendayal Antyodaya Yojana - National Rural Livelihoods Mission
Public sector banks, private sector banks, and small finance banks must follow consolidated guidelines for the Deendayal Antyodaya Yojana - National Rural Livelihoods Mission.
