Report on Audit at Byju’s Soon: ICAI Chief
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Report on Audit at Byju’s Soon: ICAI Chief

The Financial Report Review Board (FRRB) of the Institute of Chartered Accountants of India (ICAI) will soon submit its report on the standards and processes followed by the auditor of edtech major Byju’s, ICAI’s new president Ranjeet Kumar Agarwal told ET on Wednesday. The report by the FRRB, which looks at misreporting in financial reporting,…

CBIC Revises Reporting Norms for Seizure, Arrest
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CBIC Revises Reporting Norms for Seizure, Arrest

The Central Board of Indirect Taxes and Customs (CBIC) has announced new guidelines for reporting of arrests, smuggling and commercial frauds by customs officers, making it mandatory to report the arrest within 24 hours with details of nationality of the person, offence committed and the goods seized along with quantity. The smuggling incident report should…

India Restricts Imports of Laptops, Tablets, PCs
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India Restricts Imports of Laptops, Tablets, PCs

The government imposed restrictions on the imports of laptops, tablets and personal computers, a measure that seeks to nudge big tech companies looking to diversify production out of China to consider manufacturing in India. These imports that were free till now will require a valid licence, while imports contracted up to August 3 will be…

Loans Against MFS Catch Fancy with Easy Process & Low Rates
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Loans Against MFS Catch Fancy with Easy Process & Low Rates

As mutual fund schemes form a sizeable portion of an individual’s investment portfolio, various lenders are increasingly offering loans with these products as collateral. While lenders have eased the process of accessing such loans, they have kept the borrowing rates lower compared to personal or gold loans. Though public and private sector banks offer this…

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NITI Aayog Mulls EV Policy Review to Reduce Dependence on China

The NITI Aayog plans to review India’s strong push to electric vehicles (EVs) running on lithium-ion batteries since about 75% of the lithium-ion imports come from China. A section within the government feels that India should not rely heavily on China for lithium-ion and instead explore other green sources to power its future vehicles, said…

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Import Duty Removal Hurting Business Say Met Coke Makers

Indian manufacturers of metallurgical coke, a key raw material for making iron and steel, are unhappy with the removal of import duty on the product as they’ve had to reduce prices to remain competitive. In May, the government removed the 5% import duty on coke to reduce the input costs for steelmakers, as part of…

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Circular No. 13/2022-Customs

Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs (Investigation-Customs) ******* 10th floor, Tower-2, Jeevan Bharti Building, Parliament Street, New Delhi- 110001. Email ID: inv-customs@gov.in Tel. 011- 21400625 New Delhi, dated 16.08.2022 To All Pr. Chief Commissioners/ Chief Commissioner of Customs/Customs (Preventive)/Central Taxes, All Principal Director Generals/ Director…

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Circular No. (12)-2022-Customs

F.No. CBIC-21/209/2022-INV-CUSTOMS-CBEC Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs (Investigation-Customs) ******* 10th floor, Tower-2, Jeevan Bharti Building, Parliament Street, New Delhi- 110001. Email ID: inv-customs@gov.in Tel. 011- 21400625 New Delhi, dated 16.08.2022 To All Pr. Chief Commissioners/ Chief Commissioner of Customs/Customs (Preventive)/Central Taxes, All Principal Director…

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Seeking ways to cool domestic wheat prices, India could scrap import duty

India could scrap a 40% duty on wheat imports and cap the amount of stocks traders can hold to try to dampen record high domestic prices in the world’s second biggest producer, government and trade officials told Reuter on Monday. The South Asian country barred wheat exports in May after as the crop suffered a heat wave,…