Monthly Archives: November 2020

The RBI aligns the list of offences under FEMA with the new NDI rules.

Background Compounding of an offence refers to the process of admitting the contravention, suo moto and seeking redressal. The Reserve Bank of India is empowered to compound any contraventions as defined under section 13 of Foreign Exchange Management Act, 1999 … Continue reading

Posted in Regulatory |

Gist of Notification dated 10th November, 2020

In consonance with the powers conferred by various provisions of CGST Act 2017, the Central Government issued some notifications dated 10th November 2020 prescribing/extending due dates for various Compliances under GST Law, effecting new provisions and making various amendments in … Continue reading

Posted in GST, GST Update |

Key Highlights of Atmanirbhar Bharat Package 3.0

The Union Finance Minister addressing the nation on 12th November 2020, announced the Atmanirbhar Bharat Package 3.0. The size of the stimulus provided by the Govt, as part of the 12 announcements made under the said package amounts to INR … Continue reading

Posted in Direct Tax |

Future of Internal Audit

Internal auditing has a long history of successfully pivoting to meet the growing and changing needs of its stakeholders. From its transition to risk-based auditing in the 1990s to its response to regulatory changes in fraud and corruption laws, financial … Continue reading

Posted in Risk Advisory |

Introduction of the Foreign Contribution (Regulation) Amendment Act, 2020

The Central Government has laid down certain essential amendments in the Foreign Contribution (Regulation) Act, 2010 with the introduction of the Foreign Contribution (Regulation) Amendment Act, 2020, which has come into force with effect from September 28, 2020. Here, Foreign … Continue reading

Posted in Regulatory |