News Updates
NEET-UG Malpractices Case | Gujarat Court Remands 4 Accused To 4-Day CBI Custody
Today, a special CBI court in Gujarat's Godhra District remanded four accused to four days of Central Bureau of Investigation (CBI) custody in connection with malpractices at NEET-UG held at Jalaram School in Godhra's Parvadi village. The people sent to CBI's custody by Principal District Judge of Panchmahal, C K Chauhan are Jay Jalaram School's principal, Purushottam Sharma, teacher Tushar Bhatt, and middlemen Vibhor Anand and Arif Vohra. According to the allegations against them,...
Role Of Judges Is To Serve People, Not Be Revered As 'Deities' In The 'Temple Of Justice': CJI DY Chandrachud
Chief Justice of India (CJI) DY Chandrachud, during the inaugural session of the two-day East Zone II Regional Conference of the National Judicial Academy in Kolkata, emphasized the dangers of equating judges with gods. He stressed that the role of judges is to serve public interest, not to be revered as deities.CJI Chandrachud expressed his discomfort with the notion of the court as a "temple of justice," which implies that judges occupy a deity-like position. He remarked, “Too very often, we...
SEBI Approves Norms To Regulate 'Finfluencers' Amid Rising Concerns
The Securities and Exchange Board of India (SEBI) has approved norms for regulating unregistered financial influencers, commonly referred to as 'finfluencers.' This decision comes amid growing concerns over the potential risks associated with these influencers, who often provide financial advice and recommendations without proper regulation. In a recent board meeting, SEBI approved a set of norms for curbing the influence of unregistered finfluencers. The regulator stated that it is...
Level-Playing Field Opens Up Legal Profession To Those Without Connects: CJI DY Chandrachud At 200-Yr Celebrations Of Calcutta HC Bar Library Club
Chief Justice of India Justice (Dr) DY Chandrachud on Friday, spoke at the bicentenary celebrations of the Bar Library Club of Calcutta High Court. Flanked by Supreme Court Judges, Justices BR Gavai and Dipankar Datta, the CJI spoke as a part of a panel also comprising Chief Justice of the Calcutta High Court TS Sivagnanam.CJI Chandrachud began his speech by acknowledging the contribution...
Infosys CEO Salil Parekh Settles Insider Trading Charges with SEBI, Pays Rs 25 Lakh for Inadequate Controls
Infosys' CEO Salil Parekh has settled charges of violating provisions of insider trading. IT services giant Infosys' CEO Salil Parekh has agreed to pay Rs 25 lakh for failing to have adequate controls to prevent insider trading. SEBI's investigation revealed that certain information classified as Unpublished Price Sensitive Information (UPSI) were not appropriately handled by...
Karnataka CID Files Chargesheet Against Former CM BS Yediyurappa In POCSO Case
The Karnataka CID on Thursday filed a chargesheet against former Chief Minister B Y Yediyurappa in connection with a POCSO case registered against him.Special Public Prosecutor Ashok Naik said the chargesheet had been filed before the Special POCSO court. The chargesheet is filed under provisions of POCSO and the Indian Penal Code against four accused including Yediyurappa. As per the...
CBIC Clarification On Amount Of Premium For Taxable Life Insurance Policies Is Not Included In Taxable Value
The Central Board of Indirect Taxes and Customs (CBIC) has issued the clarification on the requirement of reversal of input tax credit in respect of the portion of the premium for life insurance policies which is not included in taxable value.The Board has received the representations from the trade and field formations seeking clarification on the issue as to whether the amount of...
CBIC Issues Clarification On Availability Of ITC On Ducts And Manholes Used In Network Of OFCs
The Central Board of Indirect Taxes and Customs (CBIC) has issued a clarification on availability of input tax credit on ducts and manholes used in network of optical fiber cables (OFCs) in terms of section 17(5) of the CGST Act, 2017.The board has received representations from Cellular Operators Association of India (COAI) submitting that input tax credit (ITC) is being denied by some...
CBIC Clarification On Taxability Of Salvage Wreck Value In Claim Assessment Of Motor Vehicles
The Central Board of Indirect Taxes and Customs (CBIC) has clarified on the taxability of salvage/wreck value earmarked in claim assessment of damage caused to motor vehicles.The Board has received the representations from the trade and field formations seeking clarification as to whether in case of motor vehicle insurance, GST is payable by the insurance company on salvage/ wreckage...
CBIC Clarification On GST Liability & ITC Availability On Warranty/Extended Warranty
The Central Board of Indirect Taxes and Customs (CBIC) has issued the clarification in respect of GST liability and input tax credit (ITC) availability in cases involving Warranty/ Extended Warranty, in furtherance to Circular No. 195/07/2023-GST dated 17.07.2023.Circular No. 195/07/2023-GST dated 17.07.2023 clarified certain issues regarding GST liability and availability of input tax...
Road Construction & Maintenance Service By NHAI; CBIC Clarification On Time Of Supply
The Central Board of Indirect Taxes and Customs (CBIC) has issued a clarification on time of supply in respect of supply of services of construction of road and maintenance thereof of National Highway Projects of National Highways Authority of India (NHAI) in Hybrid Annuity Mode (HAM) model.The Board has received the representations from the trade and the field formations seeking...
CBIC Clarifies Taxability Of ESOP/ESPP/RSU By Company To Employees Through Its Overseas Holding Company
The Central Board of Indirect Taxes and Customs (CBIC) has issued the clarification on the taxability of Employee Stock Ownership Plan (ESOP)/ESPP/RSU provided by a company to its employees through its overseas holding company.The Board has received the representations from the trade and field formations seeking clarification regarding the taxability of Employee Stock Option (ESOP)/Employee...