"06 June 2018" Archive - Page 3

Difficulty in Issue of CA Certificate Under UP RERA

DIFFICULTY IN ISSUE OF CA CERTIFICATE UNDER UP RERA [for the purpose of withdrawal of money from designated bank account of the project] As per the provision of The Real Estate (Regulation and Development) Act 2016 (RERA), As per section 4(2)(l)(D) of RERA Act;  ‘seventy per cent. of the amounts realised for the real estate […]...

Posted Under: Corporate Law |

Amendment to SEBI (Credit Rating Agencies) Regulations, 1999

SEBI/ HO/ MIRSD/ DOP2/CIR/P/2018/95 06/06/2018

In terms of Regulation 16(3) of SEBI (Credit Rating Agencies) Regulations, 1999, a CRA may withdraw a rating, subject to the CRA having: i. rated the instrument continuously for 5 years or 50 per cent of the tenure of the instrument, whichever is higher.ii. received an undertaking from the Issuer that a rating is available on that instrum...

When will the Rip Van Winkleism stop- SC Slam Central Govt

Union of India Vs Pirthwi Singh (Supreme Court of India)

To make matters worse, in this appeal, the Union of India has engaged 10 lawyers, including an Additional Solicitor General and a Senior Advocate! This is as per the appearance slip submitted to the Registry of this Court. In other words, the Union of India has created a huge financial liability by engaging so many lawyers for an appeal w...

EOI to be in Panel to act as Interim Resolution Professionals

Expression of Interest to be in the Panel under Insolvency Professionals to act as Interim Resolution Professionals or Liquidators (Recommendation) Guidelines, 2018....

Posted Under: Corporate Law |

GST not applicable on upfront amount for lease of 30 Years or more for plots

In re Yamuna Expressway Industrial Development Authority (GST AAR Uttar Pradesh)

In re Yamuna Expressway Industrial Development Authority (GST AAR Uttar Pradesh) Whether GST is applicable on upfront amount (called as premium / salami) payable in respect of services by way of granting of long term lease of the thirty years or more for plots catering to public health care such as hospital, nursing home, diagnostic [&hel...

Input credit not available on packing material used for supply of exempt goods

VNR Seeds Pvt. Ltd., Raipur (GST AAR Chhattisgarh)

VNR Seeds Pvt. Ltd., Raipur (GST AAR Chhattisgarh) The applicant is not entitled to ITC on the packing material used for packaging seeds, while making such exempted supply of seeds to their own branches and to other purchasers. They are however, entitled for ITC (of the tax involved in the purchase of such packing material) […]...

AAR cannot decide on Transitional CENVAT credit Provisions

Sasan Power Limited (GST AAR Madhya Pradesh)

Sasan Power Limited (GST AAR  Madhya Pradesh) A plain reading of Section 97(2) clearly implies that the any question relating to CENVAT credit, which falls under transitional provision, shall be out of purview of Advance Ruling. Admissibility of input tax credit, as given in section 97(2), relates to ‘input tax credit’ as def...

Govt amends SARFAESI notification number S.O. 2641(E), dated 05.08.2016

Notification No. S.O. 2300(E) 06/06/2018

Central Government hereby makes the following amendments in the notification of the Government of India, in the Ministry of Finance (Department of Financial Services), number S.O. 2641(E), dated the 5th August, 2016, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) namely:-...

Notification No. 7/2018-Customs (N.T./CAA/DRI), Dated: 06.06.2018

Notification No. 7/2018-Customs (N.T./CAA/DRI) [S.O. 2298 (E)] 06/06/2018

Notification No. 7/2018-Customs (N.T./CAA/DRI) Director General, Revenue Intelligence, hereby makes the following amendment in the Notification No. 1/2018-Customs (N.T./CAA/DRI) dated 23th February 2018 published vide S.O. 789(E) dated 23.02.2018....

Notification No. 6/2018-Customs (N.T./CAA/DRI), Dated: 06.06.2018

Notification No. 6/2018-Customs (N.T./CAA/DRI) [S.O. 2297 (E)] 06/06/2018

Notification No. 6/2018-Customs (N.T./CAA/DRI) Director General, Revenue Intelligence, hereby appoints officers mentioned in column (5) of the Table below to act as a common adjudicating authority to exercise the powers and discharge the duties conferred or imposed on officers mentioned in column (4) of the said Table in respect of notice...

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