RBI Conference for the Statutory Auditors and Chief Financial Officers (CFOs) of Commercial Banks and All India Financial Institutions
The Conference included technical sessions from Guest Speakers from the industry and the Chief General Managers of the Reserve Bank covering expectations from statutory auditors and CFOs, cyber-security, internal controls in financial reporting and usage of data analytics in auditing.
Understanding the Consumer Price Index for Industrial Workers in May 2024
The Ministry of Labour and Employment has released the latest Consumer Price Index for Industrial Workers (CPI-IW) for May 2024, which serves as a crucial indicator of inflation trends impacting industrial workers across India. Compiled by the Labour Bureau, the index rose marginally by 0.5 points to reach 139.9, reflecting slight cost increases in essential goods and services.
Streamlining Liquor License Regulations in Karnataka: What You Need to Know
The Government of Karnataka recently enacted amendments to the Karnataka Excise (Sale of Indian and Foreign Liquors) Rules, 1968, aimed at refining the licensing criteria for establishments in urban areas.
UPCL seeks public responses on new proposal under the provisions of UERC (Terms and Conditions of intra-state Open Access) Regulations, 2015
The Uttarakhand Power Corporation Limited on July 06, 2024, invited comments on UPCL’s proposal for the determination of an Additional Surcharge under the provisions of UERC (Terms and Conditions of intra-state Open Access) Regulations, 2015 to meet the fixed cost of UPCL arising out of its obligation to supply electricity to the Open Access Consumers for the period October 01, 2024 to March 31,2025.
Maharashtra Government Clarifies GST Time of Supply for Spectrum Services
The CBIC issued a circular stating that the same clarifications provided in circular on 26th June clarifying issues regarding the time of supply for payment of GST in respect of supply of spectrum allocation services in cases where the successful bidder for spectrum allocation (i.e. the telecom operator) opts for making payments in instalments under deferred payment option as per Frequency Assignment Letter (FAL) issued by Department of Telecommunication (DoT), Government of India will be applied to the Maharashtra Goods and Service Tax (MGST) Act of 2017.
Maharashtra provides clarity on Tax Rules on Overseas Loans
The CBIC issued a circular stating that the same clarifications provided on 26th June clarifying issues regarding any supply involved in the transaction of granting of loan by a person to a related person or by an overseas affiliate to its Indian entity, where the consideration being paid is only by way of interest or discount, and whether any GST is applicable on the same in the CBIC circular will be applied to the Maharashtra Goods and Service Tax (MGST) Act of 2017.
Draft HPERC Levy & collection of fees and charges by SLDC Amendment Regulations, 2024
The Himachal Pradesh Electricity Regulatory Commission (HPERC) on July 4, 2024, issued the Draft HPERC (Levy and Collection of Fees and Charges by State Load Despatch Centre) (Third Amendment) Regulations 2024, to further amend the HPERC (Levy and Collection of Fees and Charges by State Load Despatch Centre) Regulations, 2011.
Draft HPERC (Short Term Open Access )(Second Amendment) Regulations,2024
Draft Himachal Pradesh Electricity Commission (Short Term Open Access) (Second Amendment) Regulations ,2024 further to amend the Himachal Pradesh Electricity Regulatory Commission (Short Term Open Access) Regulation 2010. The application fee for open access customer has been increased from Rs.5,000 to Rs.15,000. Also, operational charges has been revised.
Any objections or suggestions shall be made to Secretary, HPERC on or before 3rd August, 2024.
Fresh Updates To List Of Notified And Referral Laboratories Testing Fortified Rice Products
The Food Safety and Standards Authority of India (FSSAI) has once again revised its lists of notified and referral laboratories authorized to test the nutrient content of fortified rice products. FSSAI permits these laboratories to analyze samples of Fortified Rice (FR), Fortified Rice Kernels (FRK) and Vitamin-Mineral Premix for FRK for iron, vitamin B12 and vitamin B9.
NMC Receives Certificate Of Appreciation For Its GST Compliance
The National Medical Commission (NMC) has been awarded a Certificate of Appreciation by the GST authorities for its outstanding performance and adherence to GST regulations during the financial year 2023-24. The NMC has taken this opportunity to remind the medical colleges, institutions, and the medical fraternity to include the applicable GST rate (currently 18%) when making fee payments to the NMC.
