In the past the erstwhile FMC had issued various directives regarding disclosures by Commodity Derivative Exchanges on website. This circular is being issued to consolidate and update such norms.
It has been decided that, for the time being, directives issued by FMC in this regard shall continue. Thus PMS currently would not be permissible in the Commodity Derivative Market
Revised Warehousing Norms in the Commodity Derivatives Market for Agricultural and Agri-processed Commodities Traded on the National Commodity Derivatives Exchanges
In the past the erstwhile FMC had issued various directives sharing of information among Commodity Derivative Exchanges with regard to defaulter members having membership across multiple Exchanges
Instances have been brought to the notice of the Board that some taxpayers are of the view that if a capital asset acquired out of undisclosed income is sold before 01.06.2016 and the sale proceeds so received are held in cash, then the amount of undisclosed income required to be declared under the Scheme shall be the amount of undisclosed income invested
The number of benami transactions in the real estate sector has increased astronomically. In the absence of an effective regulation, the black or ill-gotten money is easily parked in the opaque real estate industry. In the recent last couple of years, there has been immense hue and cry about curbing benami transactions and black money.
E-Commerce is defined u/s 43B of GST Act as: ‘electronic commerce’ shall mean the supply or receipt of goods and / or services, or transmitting of funds or data, over an electronic network, primarily the internet, by using any of the applications that rely on the internet, like but not limited to e-mail, instant messaging, shopping carts, Web services, Universal Description, Discovery and Integration (UDDI), File Transfer Protocol (FTP), and Electronic Data Interchange (EDI), whether or not the payment is conducted online and whether or not the ultimate delivery of the goods and/or services is done by the operator.
As we are aware of the fact that, the Company is one of the forms of separate legal entity and it can act on its behalf and in its own name. This fact is also sound accepted that the Company for making the growth enters into contract of arrangement or various transactions on daily basis with various parties. Mainly, into closely held companies and may also on other companies
As we all are very well aware of the fact, that the Company is required to hold its Annual General meeting within the stipulated time prescribed by Section 96 of the Companies Act, 2013 (hereinafter referred to as the 2013 Act). Rather than all of the time, it happens that the Company due to part of any circumstances is unable to hold the Annual General Meeting within the stipulated time prescribed by the Act.
It is destination based taxation system i.e. goods or services are taxed in the place where they are received or consumed as the case may be. Due to this feature few States did not support the biggest ever indirect tax reform due to loss of revenue to State Government. Concept of Supply – It includes all forms of supply and/or services such as sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be made for a consideration by a person in course of business. It also includes import of services with or without consideration and also includes supplies specified in Schedule I of GST Act.
