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Archive: 11 July 2017

Posts in 11 July 2017

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

July 11, 2017 723 Views 0 comment Print

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 system. The purpose is empowerment of citizens.

No GST on food supplied free at religious places

July 11, 2017 1836 Views 0 comment Print

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 […]

TDS U/s. 194H not deductible on sales to distributors on principal to principal basis

July 11, 2017 4020 Views 0 comment Print

Hindustan Coca Cola Beverages Pvt. Ltd Vs. CIT (Rajasthan High Court) Issues Under Consideration (i) Whether in the facts and circumstances of the case the learned Tribunal was right and justified in holding that assessee was liable to withhold tax at source under S.194H of the Income Tax Act, 1961 amounting to Rs.19,74,842/- (including interest) […]

MSME Certification Course on Wealth Creation by Value Investing

July 11, 2017 3306 Views 0 comment Print

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 produce sustainable long term wealth.

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

July 11, 2017 1620 Views 0 comment Print

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.

Notice not become invalid for Mere non mention of ‘section 143(2)’ in it calling upon assessee to defend its case

July 11, 2017 1932 Views 0 comment Print

In this appeal, the assessee calls in question the order passed by the Income Tax Appellate Tribunal, Cochin Bench in I.T.A.No.375/14 for the assessment year 2005-2006.

Who can sign the Tax Invoice under GST?

July 11, 2017 79914 Views 12 comments Print

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.

MoF: can we stop Litigation under GST

July 11, 2017 2478 Views 0 comment Print

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 to rest in a proactive manner for better appreciation of the GST.

Revival of ‘Struck’ Companies under Companies Act, 2013

July 11, 2017 89178 Views 11 comments Print

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.

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

July 11, 2017 795 Views 0 comment Print

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 opening process of an EFI

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