Section 62 of the Companies Act,2013 deals with the Further Issue of share capital to Employees under Employee Stock Options Scheme and to any persons on preferential basis. In my previous article (Part –I), I have discussed about the Issue of shares to the employees under Employee Stock Options Scheme (ESOS).
TATA Engineering and Locomotive Co.Ltd.(Now Known as TATA Motors Ltd.)[the Appellant or the Company] is a manufacturer of Motor Vehicles and also engaged in the business of hire finance of Motor Vehicles.
Entry 25 of Schedule VI of Karnataka Sales Tax Act, 1957 (Entry 25) was inserted vide an amendment in July 1, 1989 thereby providing for levy of Sales tax for processing and supply of photographs, photo prints and photo negatives.
Sunrise Enterprise (the Appellant) imported Global Star Brand Tyres, Tubes and Flaps (imported goods) falling under Chapter 40 of the First Schedule to the Customs Tariff Act, 1975 (the Customs Tariff Act) from Peoples Republic of China and Thailand and filed 3 Bills of Entries, one dated July 11,2007 and two dated July 12,2007.
Hero Honda Motors Ltd. (Assessee) is engaged in the business of manufacture of Motor Cycles. The Assessee availed Cenvat credit of mirror assembly, sari guard and tool kit (impugned goods) treating them as Inputs.
Bajrang Castings Private Limited (the Assessee) was engaged in manufacturing and sale of MS Ingots. During the course of searches, it was noted that the modus operandi of the Assessee was doubtful. It was alleged thatthe Assessee was availing Cenvat credit on the basis of Cenvatable invoicesfrom the registered dealers/ traders
Pushpak Steels Pvt. Ltd. (the Appellant) was manufacturer of goods falling under Chapter 72 of the Central Excise Tariff Act, 1985. The Appellant purchased an Electric Motor (impugned Capital Goods) from Crompton Greeves Ltd.under an invoice No. 357 dated January 9, 2003 on payment of Excise duty amounting to Rs. 1,32,280/-.
Representations have been received from the Express Industry Council of India highlighting problems faced in complying with the KYC norms. It has been represented that only one identification/ document instead of minimum two documents should be collected
The ADs will be required to access the e-Biz portal (which is hosted on the National Informatics Centre (NIC) servers) using a Virtual Private Network (VPN) Account obtained from NIC. The financial aspects for obtaining/using the VPN accounts is being finalised in consultation with Government of India, DIPP and NIC. The same will be informed in due course.
It has been decided to dispense with the requirement of submitting request in Form A-1 to the AD Category –I Banks for making payments towards imports into India. AD Category –I may however, need to obtain all the requisite details from the importers and satisfy itself about the bonafides of the transactions before effecting the remittance.
