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Archive: August, 2017

Posts in August, 2017

IBBI (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2017

August 16, 2017 1800 Views 0 comment Print

1. These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2017

Online Registration Mechanism for Securities Market Intermediaries

August 16, 2017 1191 Views 0 comment Print

It has been SEBI’s continuous endeavor to improve ease of doing business by adopting technological solutions in its interface with market participants. Accordingly, SEBI has operationalized SEBI Intermediary Portal (https://siportal.sebi.gov.in) for the intermediaries to submit their applications online in paperless manner.

IBBI (Fast Track Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2017

August 16, 2017 1869 Views 0 comment Print

1. These regulations may be called the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2017. 2. They shall come into force on the date of their publication in the Official Gazette.

GST: Unauthorised search and seizure by BIEO, HC grants interim relief

August 16, 2017 2688 Views 0 comment Print

M/s. Kumar Traders And Company & Anr. Vs. State Of Assam (Gauhati High Court) This case was adjourned on 9.8.2017, to enable the learned Govt. Advocate to receive instruction on the circumstances under, which the team from the Bureau of Investigation for Economic Offences (BIEO) had raided the Amingaon godown of the petitioners, where areca […]

ICSI withdraws existing SS-1 and SS-2 w.e.f. 30th September, 2017, Revised SS-1 & to be introduced w.e.f. 01.10.2017

August 16, 2017 4686 Views 1 comment Print

F. No. ICSI/6/2017.—The Notification ICSI No.1 (SS) of 2015 dated 23rd April, 2015, published in the Gazette of India, Part III, Section 4, with regard to (i) SS-1: Secretarial Standard on Meetings of the Board of Directors and (ii) SS-2: Secretarial Standard on General Meetings, stands withdrawn* w.e.f. 30th September, 2017

Transitional credit of ITC Vis-à-vis GSTR-3B

August 16, 2017 47316 Views 12 comments Print

In this article I would like to highlight the plight of the taxpayers who have sufficient ITC credit in their account/eligible to avail the same as on 30.06.2017, but in a fix whether to utilize the same for payment of tax for the month of July 2017 or not due to non issuance of clarification from the department.

GST: Regular Vs Composition- good or bad- a business decision & not merely a compliance bye-pass

August 16, 2017 16257 Views 6 comments Print

GST law has made provision for composition scheme for small businesses in order to spare them from cumbersome compliances imposed on businesses falling under the purview of GST. Although on the face of it, the option may seem attractive, but on deeper examination, it may not be advisable for many small businesses also.

GST: Exemption from Reverse Charge, whether applicable to persons under Composition scheme

August 16, 2017 12855 Views 4 comments Print

Exemption provided on tax liability under reverse mechanism seems to be rectified in near furture.

GST on E-Commerce Operators

August 16, 2017 21621 Views 2 comments Print

Introduction: This article discusses in detail about GST on E-Commerce Operators & its related aspects. Electronic Commerce has been defined In Sec. 2(44) of the CGST Act, 2017 to mean the supply of goods or services or both including digital products over digital or electronic network. Electronic Commerce Operator has been defined in Sec. 2(45) […]

GTA Conundrum in GST Solved with FAQs

August 16, 2017 8649 Views 3 comments Print

Conundrum of Goods Transport Agency ( GTA) in GST Q1 . What is a Goods Transport Agency ? Why is it Important? Goods Transport Agency means any person who provides service in relation to transport of goods by road and issues consignment note, by whatever name called.

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