Facilities in IFSC

IFSCA has directed heads of the banking units of Indian banks to undertake structured sensitisation programmes for staff of the AD branches of your bank to make them aware of the legal and regulatory status of IBUs.

Punjab Liquor License (Second Amendment) Rules, 2023

The rules revise the amount of fixed annual license fee and security in respect of different kinds of licenses. They also introduce a special license fee on Punjab Medium Liquor, Indian Made Foreign Liquor and Imported Foreign Liquor.

Companies (Indian Accounting Standards) Amendment Rules, 2023

The amendment rules have introduced a provision for ‘deferred tax related to assets and liabilities arising from a single transaction’. Entities shall apply this provision for annual reporting periods beginning on or after 1st April, 2023.

Rajasthan extends Time Limit for Tax Recovery

The Govt. of Rajasthan has issued a notification for recovery of tax not paid or short paid or of input tax credit wrongly availed or utilised. This notification was issued on 1st April, 2023.