"11 July 2017" Archive

Aadhaar an effective instrument in removing Corruption: Shri Ravi Shankar Prasad

Aadhaar is an effective instrument in removing corruption. We have saved Rs. 50,000 Crore by removing corruption. In the country, 116 Cr people have been enrolled for Aadhaar and CSC has played a big role in it. In the last 5-6 months, Aadhaar has been linked with various government services to ensure transparency and effectiveness in sys...

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Posted Under: Corporate Law |

No GST on food supplied free at religious places

No GST is applicable on free food supplied in anna kshetras run by religious institutions; prasadam supplied by religious places like temples, mosques, churches, gurudwaras, dargahs, etc. attracts Nil CGST and SGST or IGST, as the case may be. There are media reports suggesting that GST applies on free food supplied in anna kshetras run [...

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Posted Under: Corporate Law |

MSME Certification Course on Wealth Creation by Value Investing

INVITATION TO JOIN CERTIFICATION COURSE ON Wealth Creation by Value Investing by Ministry of MSME, Govt. of India. Value investing is a structured stock selection method to create incredible amount of wealth. In spite of so many divergent methods of wealth creation, value investing fundamentals have remained the same for decades to produ...

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Posted Under: Corporate Law | ,

Stay on Circular Mandating 10% Additional Pre- Deposit for Appeals before CESTAT

Circular No. F.No.01/05/Circular /CESTAT /2015 (11/07/2017)

Hon'ble High Court of Delhi on 23.5.2017 has passed an interim order in W.P. No. 4551/2017 and accordingly, the demand of 10% additional mandatory deposit over and above the amount deposited before Commissioner (Appeals) is stayed till further orders. The circular dated 27.4.2017 issued by this office is also kept in abeyance....

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Who can sign the Tax Invoice under GST?

Supplier in relation to any goods or services or both, shall mean the person supplying the said goods or services or both and shall include an agent acting as such on behalf of such supplier in relation to the goods or services or both supplied....

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Posted Under: Corporate Law |

MoF: can we stop Litigation under GST

I am compelled to ask the mandarins in the North Block & the Finance Minister in particular because he is himself a legal luminary that can we reduce the scope of litigation per say by way of an active approach to put a stop to unnecessary litigation. I would like to touch upon certain issues, which come to my mind, which need to be put t...

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Posted Under: Corporate Law |

Revival of ‘Struck’ Companies under Companies Act, 2013

In this Flash editorial, the author begins by referring the provisions of section 248(1) of Companies Act, 2013 relating to Power of Registrar to remove name of company from register of companies and provisions of section 252 relating to REVIVAL OF COMPANIES STRUCK off from the record of the Registrar....

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Posted Under: Corporate Law |

Guidelines for participation/functioning of EFIs & FPIs in IFSC- Amendment

Cricular No. SEBI/HO/CIR/P/2017/79 (11/07/2017)

In case of participation of an EFI, not registered with SEBI as an FPI, but desirous of operating in IFSC, a trading member of the recognized stock exchange in IFSC may carry out the due diligence on its own or it may rely upon the due diligence carried out by a bank, which is permitted by RBI to operate in IFSC, during the account openin...

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Anti-Profiteering Rules in GST-Suggestions to avoid litigation

The GST Council issued Anti-Profiteering Rules 2017. However, there is still no clarity regarding methodology to determine whether there is undue profiteering by the entity. This article provides suggestions to avoid the litigation....

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Posted Under: Corporate Law |

Confiscation of goods or conveyances under GST

In case of hired conveyance, the owner has option to pay in lieu of confiscation of conveyance a fine equal to the tax payable on the goods being transported thereon....

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Posted Under: Corporate Law |
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