"20 December 2017" Archive

Change in Directors of A Private Limited Company

Minimum no of directors: As per Section 149 of the Act every company shall have a board of directors consisting of individuals and shall have a minimum number of two directors in the case of a private limited company....

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Posted Under: Company Law |

Delhi HC on petition by Tour Operator on anomalies in Input Tax Credit

D. Pauls Travel & Tours Ltd. Vs. Union Of India & Anr. (Delhi High Court)

D. Pauls Travel & Tours Ltd. Vs. Union Of India & Anr. (Delhi High Court) The petitioner submits that it is in the business of booking tours and hotel packages for customers. They charge IGST from customers for bookings in hotels located outside Delhi. However, they are unable to avail input tax credit on the […]...

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BJP leader asks Bar Council to Debar MPs and MLAs from Practicing As Advocates

In a letter addressed to the Chairman of Bar Council of India, Mr. Manan Kumar Mishra, BJP leader and Advocate Ashwini Kumar Upadhyay has sought debarment of Members of Parliament (MPs) and Members of Legislative Assembly (MLAs) from practicing as Advocates....

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Posted Under: Company Law |

Limit for investment by FPIs in Government Securities for Jan-March 2018

IMD/FPIC/CIR/P/2017/129-SEBI Circular 20/12/2017

It has been decided to revise the limit for investment by FPIs in Government Securities, for the January - March 2018 quarter, with effect from January 01, 2018, as follows: a. Limit for FPIs in Central Government securities shall be enhanced to INR 191,300 cr....

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All you wanted to know about Sovereign Gold Bond Scheme

The Government of India has recently launched the Sovereign Gold Bond (SGB) Scheme as an alternate investment form to physical gold....

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Posted Under: Company Law |

CBDT Releases Income Tax Return Statistics for AY 2015-16

Central Board of Direct Taxes (CBDT) has been proactively releasing Time-series Data relating to Direct Tax collections, number of taxpayers, cost of collection etc., as also data of number of PAN allotted and data relating to distribution of income and tax payable in the returns filed for different Assessment Years....

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Posted Under: Company Law |

Opting to file quarterly GST return is optional for taxpayers

Opting to file quarterly return is optional. Even if the annual turnover is less than 1.5 crores, the taxpayer may not opt for quarterly filing and continue to file monthly return....

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Posted Under: Company Law |

How to apply for Refund of ITC paid on Exports of Goods and Services?

Application for Refund of ITC paid on Exports of Goods and Services without payment of Integrated Tax...

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Posted Under: Company Law |

Step by Step guide for filing Form GST TRAN 2 form

TRAN 2 can be filed only if TRAN-1 and GSTR 3B of the relevant tax period is filed. Navigate to the TRAN 2 page of the desired tax period after logging in , Select the < Financial Year> and < Month>...

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Posted Under: Company Law |

Assessment made without calling any specific document and and merely for non-furnishing of documents before Enforcement Wing Officials is invalid

Essar Steel India Ltd. Vs. The Deputy Commissioner (CT) II (FAC) (Madras High Court)

The Madras High Court, while quashing an assessment passed under Tamil Nadu Value Added Tax Act (TNVAT), ruled that Assessing Officer, being an Independent Authority, cannot be compelled to follow the direction of the enforcement authority and the court quashed the assessment. ...

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