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Newsletter

Stay informed and up-to-date with the latest news and insights related to compliance

ricago Newsletter October Edition - 2024

Tax Laws

GSTIN ADVISORY: NEW PROVISIONS FOR METAL SCRAP TRANSACTIONS

The Government of India, through Notification 25/2024-Central Tax, dated October 9, 2024, has introduced a new compliance requirement under Section 51 of the CGST Act, 2017. This notification mandates businesses engaged in metal scrap transactions to adhere to specific guidelines.

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Judicial Insight

SUPREME COURT'S TAKE ON REVISED TAX RETURNS

The appellant, M/s. Shriram Investments, initially filed its return of income for the assessment year 1989-90 on November 19, 1989, under the Income Tax Act, 1961 (IT Act).

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Corporate Laws

SEBI MEASURES TO STRENGTHEN EQUITY INDEX DERIVATIVES FRAMEWORK FOR INCREASED INVESTOR PROTECTION AND MARKET STABILITY

On October 1, 2024, the Securities and Exchange Board of India (SEBI) issued Circular, introducing significant amendments aimed at strengthening the equity index derivatives framework.

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Corporate Laws

SEBI SECURITIES AND EXCHANGE BOARD OF INDIA (REAL ESTATE INVESTMENT TRUSTS) (THIRD AMENDMENT) REGULATIONS, 2024

The Securities and Exchange Board of India (SEBI) recently introduced the Real Estate Investment Trusts (Third Amendment) Regulations, 2024, to further streamline governance, enhance transparency, and introduce greater efficiency in operational aspects of REITs.

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Tax Laws

CBIC CIRCULAR REGARDING CLARIFICATION IN RESPECT OF ADVERTISING SERVICES PROVIDED TO FOREIGN CLIENTS–REG

Applicable to all Indian advertising companies/agencies providing services to foreign clients, foreign entities receiving these services, and media owners in India supplying media space

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Tax Laws

CBDT PRESS RELEASE - ROLL OUT OF E-DRS SCHEME, 2022

The Central Board of Direct Taxes (CBDT) has introduced the e-Dispute Resolution Scheme (e-DRS) under Section 245MA of the Income-tax Act, 1961, to reduce tax litigation and offer relief to eligible taxpayers.

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Corporate Laws

ESIC GUIDE FOR EMPLOYERS

The Employees’ State Insurance Corporation (ESIC) operates under the Employees’ State Insurance (ESI) Act, 1948, with the objective of providing comprehensive social insurance and health benefits to employees and their dependents in India.

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Judicial Insight

CASE LAW SUPREME COURT UPHOLDS POST-AWARD INTEREST: KEY RULING IN ARBITRATION DISPUTE

A contract was established on 17.10.1997 between R.P. Garg and the Telecom Department of Haryana for the purpose of trenching and laying underground cables. According to the contract terms, the appellant was required to provide a security deposit of ₹10 lakhs.

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