Govt. forces stringent norms for usage of International Credit Cards to make payments towards meeting expenses during an overseas visit. Effective from 16-5-2023. Spend now covered under the overall limit of USD 250,000 under Liberalised Remittance Scheme (LRS). [TCS @ 20% shall also be collected u/s 206].
Notification No. G. S. R. 369 (E), dated 16-5-2023.
CCI establishes Southern, Eastern and Western Regional Offices along with their territorial jurisdiction.
Notification F. No. R – 40007/6/REG-MEETING/NOTI./2023-CCI., dated 16-5-2023.
Workmen and employees are entitled for payment of full amount of P.F. and Gratuity till date of commencement of insolvency, which amount is to be paid by successful resolution applicant consequent to approval of resolution plan.
Jalan Fritsch Consortium v. Regional P.F. Commissioner – [2023] 149 taxmann.com 454 (SC).
RBI directs banks / financial institutions to ensure complete transition away from LIBOR w.e.f. 1-7-2023.
Circular No. RBI/2023-24/30 CO.FMRD.DIRD.01/14.02.001/2023-24, dated 12-4-2023.
Govt. establishes C-PACE to provide hassle free filing, timely and process bound striking off companies from MCA Registry.
Press Release dated 13-5-2023.
Supreme Court dismissed appeal against order passed by Securities Appellate Tribunal (SAT) wherein it was held that an entity listed on Stock Exchange platform was required to pay Exchange, listing fee till securities were listed on platform of Exchange, and suspension of trading in listed entity’s securities did not entitle company not to pay annual listing fee.
Enchante Jewellery Ltd. v. BSE Ltd. – [2023] 149 taxmann.com 427 (SC).