Ministry of Power revises Biomass Co-Firing Policy for enabling purchase of bio-mass pallets by Power Plants at benchmark prices.
ICSI unveils Social Audit Standards.
SEBI proposes to introduce trading in stock market via blocked funds directly from investor’s bank account.
Circular No. SEBI/HO/MRD/MRD-PoD-2/P/CIR/2023/99, dated 23-6-2023.
Mere resignation of an auditor from the company does not absolve him from his responsibility to report suspected fraud. NFRA issues detailed circular on Statutory Auditor’s Responsibilities in relation to Fraud in a Company.
Circular NF – 25013/2/2023, dated 26-6-2023.
Auditor debarred by NFRA for 5 years for non-compliance with Standards on Auditing. Monetary penalty also imposed.
ICAI releases checklist on Standards on Auditing (SAs).
DGFT liberalises and simplifies the policy for export of Drones/Unmanned Aerial Vehicles (UAVs) for civilian end uses from India.
Supply of medicines and other procedures to inpatients admitted to hospital for treatment is a composite supply exempt from tax, where principal supply is healthcare services falling under SAC 999311 which is exempt as per entry at Sl. No. 74 of Notification No. 12/2017 – Central tax, dated 28-6-2017.
Innovations Mediresearch (P.) Ltd.., In re – [2023] 151 taxmann.com 505 (AAR – RAJASTHAN).
HC directs dept. to reconsider refund claim of unregistered person since policy has evolved governing application for refund, post the date when impugned order was passed.
C. P. Ravindranath Menon v. Dy. Comm. of State Tax – [2023] 151 taxmann.com 458 (Bombay).
HC directs dept. to produce records relating to SCN to verify whether reasons to believe existed for issuance of notice.
Marjit Basumatary v. UOI – [2023] 151 taxmann.com 423 (Gauhati).