Commerce News Guruji

This is how LPG cylinder delivery men scam customers. . . . . . There are certain cases where the LPG cylinder delivery person manipulate the cylinder seal to steal gas to make extra profits. It may be beneficial deal to that person but for the consumers, it is life threatening which the gas agencies totally ignore. In this video, we’ll talk about how they scam the consumers and even in some case, they charge money in the name of delivery charges while the delivery is mostly free if it is delivered within the limit specified by the company. So, watch the video till the end and follow the checks elaborated in the video. Beware of such scams and share this video with your family, friends and relatives. Hope you like the video, make sure you have subscribed our YouTube channel and followed us on Instagram for future updates. Thank you! . . . . . #scam #lpg #cylinderdelivery #LPGcylinder #deliverycharges #GasLeak #Leakage #Weight #Seal #PublicAwareness #News #CommerceNewsGuruji

Sovereign Gold Bond Scheme 2023-24 - Series IV: Cut-off date and Issue Price. . . . . . In terms of Government of India Notification F.No.4(6)-B(W&M)/2023 and Reserve Bank press release dated December 08, 2023, the Sovereign Gold Bond Scheme 2023-24 - Series IV will be open for subscription during February 12 to 16, 2024. The nominal value of the bond based on the simple average of closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three working days of the week preceding the subscription period, i.e. February 07, February 08 and February 09, 2024 works out to ₹6,263/- (Rupees Six thousand two hundred and sixty-three only) per gram of gold. Government of India, in consultation with the Reserve Bank, has decided to offer a discount of ₹50/- per gram less than the nominal value to those investors applying online and making the payment against the application through digital mode. For such investors, the issue price of Gold Bond will be ₹6,213/- (Rupees Six thousand two hundred and thirteen only) per gram of gold. . . . . . #gold #investors #investment #safety #security #storage #returns #interest #principal #bond #goldbond #government #maturity #tax #capitalgains #liquidity #collateral #loan #commercenewsguruji

Chandigarh Traffic Police use Twitter to issue challans. . . . . . Chandigarh police uses Twitter for updating citizen about the traffic flow and to educate about the traffic rules. If someone caught disobeying the traffic rules, then his/her co-travelers click photo/make video and tweet to Chandigarh Police with exact place, date and time. The Chandigarh Police, later, verify the details furnished on twitter with their own records and if found guilty then issue challan. So, drive responsibly and stay safe. We have made a detailed video consisting 51 traffic offence and its respective challan amount, please watch the same. The link is: https://youtu.be/laNtDELBDVw Hope you like the video, make sure you have subscribed our YouTube channel and followed us on Instagram for future updates. Thank you! . . . . . #Traffic #Police #TrafficPolice #Chandigarh #ChandigarhPolice #Challan #Offence #Twitter #ChandigarhTheCityBeautiful #ImportantMessage #DriveSafe #Camera #Video #Photo #Rules #CommerceNewsGuruji

RBI imposed restrictions on PayTM from accepting deposits. . . . . . In Press Release dated March 11, 2022, the Reserve Bank of India, in exercise of its powers under section 35A of the Banking Regulation Act, 1949, had directed Paytm Payments Bank Ltd (PPBL or the bank) to stop onboarding of new customers with immediate effect. The Comprehensive System Audit report and subsequent compliance validation report of the external auditors revealed persistent non-compliances and continued material supervisory concerns in the bank, warranting further supervisory action. Accordingly, in exercise of its powers under section 35A of Banking Regulation Act, 1949 and all other powers enabling it in that behalf, the Reserve Bank of India, has directed PPBL as below: • No further deposits or credit transactions or top ups shall be allowed in any customer accounts, prepaid instruments, wallets, FASTags, NCMC cards, etc. after February 29, 2024, other than any interest, cashbacks, or refunds which may be credited anytime. • Withdrawal or utilisation of balances by its customers from their accounts including savings bank accounts, current accounts, prepaid instruments, FASTags, National Common Mobility Cards, etc. are to be permitted without any restrictions, upto their available balance. • No other banking services like fund transfers (irrespective of name and nature of services like AEPS, IMPS, etc.), BBPOU and UPI facility should be provided by the bank after February 29, 2024. . . . . . #RBI #Paytm #Restrictions #IMPS #UPI #FundTransfer #NonCompliance #Fastag #Wallet #BankAccount #Interest #Refund #Cashback #Audit #BankingServices #News #BusinessNews #CommerceNewsGuruji

Donation to Ram Mandir is allowed as Deduction from Income. . . . The Central Government has notified Shri Ram Trust as a place of historic importance and a place of renowned public worship for the purpose of Section 80G(2)(b) w.e.f. FY 2020-21. Hence, donations made from the FY 2020-21 onwards are eligible for a deduction. Section 80G of the Income Tax Act of 1961 allows all categories of taxpayers. Both resident and non-resident taxpayers can claim this deduction. By donating to eligible institutions and organisations, taxpayers can claim deductions ranging from 50% to 100% of the amount donated. 50% of the amount donated for renovation/repair of the Mandir to Shri Ram Trust is eligible for deduction under Section 80G. Donations for purposes other than the renovation or repair of the temple are not eligible for deduction. Further, this 50% deduction under Section 80G shall be subject to the qualifying limit. If the total amount donated to Shri Ram Trust exceeds 10% of your Adjusted Total Income (ATI), any excess amount beyond the 10% limit will not be eligible for deduction. It is important to note that only taxpayers who opt for the old tax regime while filing ITR can claim this deduction. To claim the deduction under Section 80G: a. Donors should collect the donation receipt Donations should not be in kind b. Donations exceeding Rs. 2,000 should not be in cash c. Donations should be specifically given for the renovation/repair of the temple d. Donors should not be opting for the new tax regime e. Deduction can be claimed up to 50% of the amount donated subject to the qualifying limit f. Deduction can be claimed in the income tax return by filling in the information in 'Schedule 80G' in ITR Keep watching the video till last. Hope you like the video, make sure you have subscribed our YouTube channel and followed us on Instagram for future updates. Thank you! . . . #RamMandir #Income #Tax #IncomeTax #Donation #Deduction #ShriRamMandir #ShriRamTrust #TaxPa

Deadlines and Fees for ICAI exam form for May/June 2024. . . . . . As the ICAI releases Date Sheet for May/June 2024 exams, in this video we'll talk about the starting and last date to apply exam form and exam fees. Keep watching the video till last. Hope you like the video, make sure you have subscribed our YouTube channel and followed us on Instagram for future updates. Thank you! . . . #ICAI #ICAIUpdates #CAExams #May2024Exams #June2024Exams #Examinations #CAExaminations #CAFoundation #CAIntermediate #CAFinal #DateSheet #CAExamsDateSheet #Notification #Fee #ExamFee #DueDate #CAStudents #CAAspirants #ICAIStudents #News #CommerceNewsGuruji

ICAI releases Date Sheet for May-June 2024 exams. . . . . . ICAI releases Date Sheet for May-June 2024 exams. Keep watching the video till last. Hope you like the video, make sure you have subscribed our YouTube channel and followed us on Instagram for future updates. Thank you! . . . . . #ICAI #ICAIUpdates #CAExams #May2024Exams #June2024Exams #Examinations #CAExaminations #CAFoundation #CAIntermediate #CAFinal #DateSheet #CAExamsDateSheet #Notification #CAStudents #CAAspirants #ICAIStudents #News #CommerceNewsGuruji

List of traffic offence and challan amount. . . . . . In this video, we have listed 51 main and general traffic offences and its penalty amount in form of challan as per Central Motor Vehicle Act. These challan amount may be different in different states for some offence listed in video. So, stay tuned to video till last and make sure you like and share this video to your family, friends and relatives. If you find out any type of mistake or error in video, please feel free to share the same, we'll try to improve and solve. And please subscribe to our channel for more such amazing contents. Thank you! . . . . . #Challan #Traffic #Police #TrafficPolice #TrafficRules #TrafficChallan #Penalty #Offence #RoadSafety #Awareness #DrinkAndDrive #LawAndOrder #CommerceNewsGuruji

Amazon receives Notice for selling sweets as "Shri Ram Mandir Ayodhya Prasad" on its platform. . . . . . The Central Consumer Protection Authority (CCPA), headed by Chief Commissioner Shri Rohit Kumar Singh, has initiated action against Amazon Seller Services Pvt. Ltd., concerning the sale of sweets on www.amazon.in under the name “Shri Ram Mandir Ayodhya Prasad”. The action has been initiated based on a representation made by Confederation of All India Traders (CAIT) alleging that Amazon is engaging in deceptive trade practices involving sale of sweets under the guise of “Shri Ram Mandir Ayodhya Prasad”. Pursuant to the examination of the representation, it has been observed that various sweets/food products are available for sale on Amazon e-commerce platform (www.amazon.in) claiming it to be “Shri Ram Mandir Ayodhya Prasad”. Enabling the sale of food products online that make false representations misleads consumers regarding the genuine characteristics of the product. Such practice falsely influences consumers to make purchase decisions they might not have otherwise taken, had the accurate attributes of the product been mentioned. It may be mentioned that under Rule 4(3) of the Consumer Protection (e-commerce) Rules, 2020 no e-commerce entity shall adopt any unfair trade practice, whether in the course of business on its platform or otherwise. CCPA has sought response from Amazon within 7 days from issuance of notice, failing which necessary action may be initiated against them under the provisions of the Consumer Protection Act, 2019. Although the Amazon has already removed such products from its platform. Blog Post: http://commercenewsguruji.com/post-details/1278/Amazon-receives-Notice-for-selling-sweets-as--Shri-Ram-Mandir-Ayodhya-Prasad--on-its-platform.html Hope you like the video, make sure you have subscribed our YouTube channel and followed us on Instagram for future updates. Thank you! . . . . . #Amazon #ShreeRamMandir #Prasad #Ayodh

Customer is not liable to pay any charges to vendor for payment through Cards. . . . . . If you regularly use credit cards for shopping, the chances are that every once in a while, you have been asked to shell out an extra 1% to 3% at POS (Point of Sale) counters for using your card. When you swipe your card on a POS machine, the merchant has to pay a small percentage (about 2%) as rental fees to the bank for using the POS machine. Ideally, these charges are to be borne by the merchant as a part of the cost of running the business, and in particular, for having the convenience of taking payments through a POS. But some merchants try to recover this charge from customers. The best option for you in such a situation would be to tell the merchant that you are aware of RBI’s regulations and can make a complaint with the bank to get the merchant blacklisted. If the merchant is ready to reduce the charges, then you might be willing to pay a small fee to go ahead with the transaction. In most cases, this would work, as the extra charge would be shared by you and the merchant. However, if the merchant is already earning a high margin and still charging you for a card payment, it is only right for you to refuse to pay the extra amount. Hope you like the video, make sure you have subscribed our YouTube channel and followed us on Instagram for future updates. Thank you! . . . . . . #CreditCard #Charges #Customer #CreditCard #DebitCard #Shopping #POS #RBI #CustomerProtection #Bank #Regulation #Illegal #Business #Awareness #commercenewsguruji

In this video, we'll talk about the difference between Calendar Year, Financial Year and Assessment Year. Financial Year is also called as Accounting Year. Hope you like the video, make sure you have subscribed our YouTube channel and followed us on Instagram for future updates. Thank you! . . . . . #CalendarYear #FinancialYear #AssessmentYear #AccountingYear #Income #Tax #Sales #Business #Profits #TaxLiability #AccountingTerms #Commerce #BusinessTerms #Difference #CommerceNewsGuruji

RBI imposes penalty of Rs. 1 crore on Punjab and Sind Bank. . . . . . The Reserve Bank of India (RBI) has, by an order dated January 03, 2024 imposed a monetary penalty of ₹1 crore (Rupees One Crore only) on Punjab and Sind Bank (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and Advances – Statutory and Other Restrictions’. This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Background: The Statutory Inspection for Supervisory Evaluation (lSE 2022) of the bank was conducted by RBI with reference to its financial position as on March 31, 2022. The examination of the Risk Assessment Report / Inspection Report pertaining to ISE 2022, and all related correspondence in that regard, revealed, inter alia, non-compliance with the aforesaid direction by the bank, to the extent it sanctioned a term loan to a Corporation (i) in lieu of or to substitute budgetary resources envisaged for certain projects; (ii) without undertaking due diligence on the viability and bankability of the projects to ensure that revenue streams from the projects were sufficient to take care of the debt servicing obligations; and (iii) the repayment / servicing of which was made out of budgetary resources. Consequently, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for failure to comply with the said directions issued by RBI, as stated therein. After considering the bank’s reply to the notice, and oral submission made during the personal hearing, RBI came to the conclusion that the charge of non-compliance with the aforesaid RBI directions was substantiated and warranted imposition of monetary penalty. Hope you like the video, make sure you have subscribed our YouTube channel and followed us on Instagram for future updates. Thank you! . . . . . #RBI #Bank #Bank

CBIC launches its official WhatsApp channel. . . . . . Here are the details of said channel. Hope you like the video, make sure you have subscribed our YouTube channel and followed us on Instagram for future updates. Thank you! CBIC WhatsApp channel: https://whatsapp.com/channel/0029VaIHEmo9Gv7XcriPOW27 Commerce News Guruji WhatsApp channel: https://whatsapp.com/channel/0029VaCHW3qD38COFU22d31v . . . . . #CBIC #WhatsApp #WhatsAppChannel #GST #Customs #IndirectTax #CBICIndia #Law #News #DueDates #Tutorials #Business #BusinessNews #OfficialLaunch #GovernmentUpdates #OfficialAnnouncement #DigitalIndia #CBICNews #CommerceNewsGuruji

Mahila Samman Saving Certificate Scheme. . . . . . In this video we'll discuss everything about Mahila Samman Saving Certificate Scheme. Hope you like the video, make sure you have subscribed our YouTube channel and followed us on Instagram for future updates. Thank you! . . . . .

Benefits of filing ITR. . . . . . The benefits of filing income tax returns (ITR) is listed below: 1. Claiming Tax Refunds: If you've paid excess tax through TDS or other sources, filing ITR allows you to claim refunds. This can put a sizeable amount back in your pocket. 2. Avoid Penalties: Failing to file ITR can attract hefty penalties and late fees, which can quickly spiral. Timely filing keeps you compliant and avoids financial hassles. 3. Proof of Income: ITR serves as a credible proof of income, vital for obtaining loans, applying for visas, securing rentals, or even getting certain jobs. 4. Carry Forward Losses: For businesses, filing ITR allows you to carry forward any business losses incurred in a year and set them off against future profits, reducing future tax liability. 5. Eligible for Loans & Credit Cards: A consistent record of timely ITR filing demonstrates financial responsibility, which can positively impact your credit score and loan eligibility. 6. Admission of child in school: Now a days many schools have started a policy to seek ITR of parents at the time of admission of a child. Hope you like the video, make sure you have subscribed our YouTube channel and followed us on Instagram for future updates. Thank you! . . . . . #IncomeTax #Income #Tax #ITR #ITRfiling #Benefits #Advantges #Individual #OldRegime #NewRegime #TDS #VISA #Refund #IncomeTaxRefund #Penalty #Loan #CreditCard #School #Parents #TaxLiability #Education #EducationalVideo #CommerceNewsGuruji

Income Tax Rebate under Old regime and New regime. . . . . . In this video, we’ll discuss about the Rebate u/s 87A of Income Tax Act under Old Regime and New Regime with comparative examples. Hope you like it, please like the video and make sure you have subscribed/followed for future updates. Thank you! . . . . . #IncomeTax #Rebate #Income #Tax #IncomeTaxRebate #TaxRebate #Individual #OldRegime #NewRegime #Exemption #TaxLiability #Education #EducationalVideo #CommerceNewsGuruji

GST Authority busted bogus Firms involved in fake GST invoices. . . . . . To curb frauds in Goods and Services Tax (GST) and increase compliance, the GST formations, under the Central Board of Indirect Taxes and Customs (CBIC) and the State/UT Governments, across the country are carrying out a focused drive on the issue of non-existent / bogus registrations and issuance of fake invoices without any underlying supply of goods and services. Since the initiation of the special drive against fake registrations in mid-May 2023, a total of 29,273 bogus firms involved in suspected Input Tax Credit (ITC) evasion of Rs. 44,015 crore have been detected. This has saved Rs. 4,646 crore of which Rs. 3,802 crore is by blocking of ITC and Rs. 844 crore is by way of recovery. So far, 121 arrests have been made in the cases. In the quarter ending December, 2023, 4,153 bogus firms that involved suspected ITC evasion of around Rs. 12,036 crore were detected. 2,358 of these bogus firms were detected by the Central GST Authorities. This has protected revenue of Rs. 1,317 crore of which Rs. 319 crore has been realised and Rs 997 crore has been protected by blocking ITC. 41 persons were arrested in these cases. 31 of these arrests were by Central GST Authorities. The Government has taken various measures to strengthen the GST registration process. Pilot projects of biometric based Aadhar authentication at the time of registration have been launched in the States of Gujarat, Puducherry and Andhra Pradesh. Besides, the Government has endeavoured to curtail evasion of tax through measures such as sequential filing of GST returns, system generated intimation for reconciliation of the gap in tax liability in GSTR-1 & GSTR- 3B returns and of the gap between ITC available as per GSTR-2B & ITC availed in GSTR-3B returns, use of data analytics and risk parameters for detection of fake ITC, etc. . . . . . #gst #bogusfirm #fakeinvoice #invoice #itc #gstauthority #compliance #registration #goods

Attention for Stock Market investors. . . . . . Department of Telecommunications (DoT), Ministry of Communications, advises citizens to beware of malicious incoming calls from international numbers claiming to cause disruption in India’s stock exchanges and trading. Such malicious calls are initiated by anti-national elements aimed at creating panic. The DoT has directed all the telecom service providers to block malicious calls from such numbers. Citizens, on receiving such calls, are advised to report to 1930 or National Cyber Crime Portal or their telecom service providers. . . . . . #stockmarket #stocks #shares #market #sharemarket #attention #investors #Inverstorsprotection #beware #fraud #scam #Money #digitalIndia #Awareness #Request #Appeal #Safety #online #onlinesafety #security #news #commercenewsguruji

Exemption from E-way Bill. . . . . . There are certain cases where generation of E-way Bill is exempted which are as under: 1. Goods are being transported by a non-motorized conveyance. 2. Goods being transported are exempt from tax. 3. Empty cargo containers are being transported. 4. Transportation of LPG for supply to household and non-domestic exempted category (NDEC) customers. 5. Empty cylinders for packing of LPG are being moved for reasons other than supply. 6. Transportation of Kerosene oil sold under Public Distribution System (PDS). 7. Transportation of Postal baggage transported by Department of Posts. 8. Transportation of used personal and household effects. 9. Jewelry 10. Currency etc. 11. Alcoholic Liquor for human consumption etc. . . . . . #ewaybill #movement #goods #taxable #exempted #valid #taxablegoods #exemptedgoods #gst #knowledge #education #update #gstportal #electronic #document #digitalindia #tax #Vehicle #LPG #LPGcylinder #Post #Jewelry #Currency #Alcohol #Liquor #commercenewsguruji

What is E-way Bill. . . . . • E-way bill is an electronic document generated on the GST portal (www.ewaybillgst.gov.in) evidencing movement of goods. • It shall be generated prior to the commencement of movement of goods. • The facility of generation, cancellation, updation and assignment of e-way bill is available to the person who arranges the transportation that can be supplier (seller), recipient (buyer) and the transporter, as the case may be. • E-way bill generated in one State is valid in another State. • It shall be generated if there is a movement of taxable goods (excluding exempted goods) of consignment value exceeding Rs. 50,000 (inclusive of taxes). • If you carry the same goods through your own personal vehicle, even then, e-way bill be required to be generated. • There are certain cases where generation of e-way bill is exempted, we’ll talk in next video on this topic. Like, share and follow for more such amazing contents. Thank you! . . . . . #ewaybill #movement #goods #taxable #exempted #valid #taxablegoods #exemptedgoods #gst #gstvideo #knowledge #education #generate #update #cancel #gstportal #electronic #document #digitalindia #tax #commercenewsguruji