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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 SEBI's investigation revealed that certain information classified as Unpublished Price Sensitive Information (UPSI) were not appropriately handled by...
Live Reporting Of Court Proceedings Need Not Be Stopped : CJI DY Chandrachud
Chief Justice of India DY Chandrachud endorsed the rights of journalists to live report court proceedings. He said that every remark of judges is now reported on social media on a real-time basis. This type of reporting need not be and cannot be stopped, he said.CJI made these comments while participating in a Q&A session at the Oxford Union earlier this month. Responding to a query...
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...
Never Faced Political Pressure From Govt In My Life As Judge: CJI DY Chandrachud
Chief Justice of India Dr. DY Chandrachud recently said that he has never faced political pressure from any government in his 24-year long term as a judge. At a Q&A session organized by the Oxford Union earlier this month, CJI was asked about the "political pressure on the judiciary, particularly in the past few years."In response, CJI said, "Political pressure, if you ask me in the sense...
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...
NEET-UG 2024 | Is There Any Time Limit To Raise Grievances Against OMR Sheets? Supreme Court Asks NTA
In a petition filed by Xylem Learning Private Limited in relation to NEET-UG 2024, the Supreme Court today (on June 27) has sought NTA's response on the time limit for raising the grievance regarding the OMR sheets. The petition, among others, raised concerns about the grant of OMR sheets to the students who appeared for the exam. Right at the outset of the proceeding, a Vacation...
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...