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Archive: 11 June 2018

Posts in 11 June 2018

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 18, 2024 4065 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 18, 2024 3663 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

Notice in PDF format Delivered Through WhatsApp is Valid

June 11, 2018 4557 Views 1 comment Print

SBI Cards & Payments Services Pvt Ltd Vs Rohidas Jadhav (Bombay High Court) Bombay High Court has recently accepted service of notice in an execution application through WhatsApp after noting that notice served in the form of a PDF file was not only delivered, but the attachment was opened as well. 1. The Respondent to […]

Applicability of GST on transactions between Employer and Employee- A Detailed Analysis

June 11, 2018 20730 Views 1 comment Print

There must be supply (sale, transfer, barter, exchange, lease, rental, license or disposal ) of goods or services or both (Goods are defined to include every movable property except money and securities and services on the other hand is defined as everything other than goods, money and securities)

No legal bar on merger of an Indian LLP with an Indian Company

June 11, 2018 2190 Views 0 comment Print

M/s. Real Image LLP  Vs  M/s. Qube Cinema Technologies Private Limited (NCLT) Legislative intention behind enacting both the LLP act 2008 and The Companies Act 2013 is to facilitate the ease of doing business and create a desirable business atmosphere for companies and LLPs. For this purpose, both the Acts have provided provisions for merger or amalgamation […]

Non GST payment with bid fee to procure a tender makes bidder ineligible to bid

June 11, 2018 11286 Views 0 comment Print

Nila Infrastructure Limited vs. Surat Municipal Corporation (Gujarat High court) Non-payment of GST along with the bid fee to procure a tender would amount to non-compliance with the remittance of bid fee – bidder would be liable for disqualification- Gujarat High court FULL TEXT OF THE HIGH COURT JUDGMENT / ORDER IS AS FOLLOWS: 1.0. […]

New form of MVAT Audit report and GST Issues

June 11, 2018 9606 Views 3 comments Print

New format of Audit report for MVAT Audit has been released. This will be audit for the 3 month i.e April 2017 to June 2017 and government has made many changes in the report. Everywhere there is workload of GST but still VAT audit for these 3 months has to be carried out.

Penalty cannot be levied where a bonafide claim of assessee was rejected

June 11, 2018 1404 Views 0 comment Print

These are the appeals filed by assessee against the order of CIT(A)-16, Mumbai dated 14/08/2015 for A.Y.1997-98 and 2003-04, in the matter of imposition of penalty u/s.271 (1 )(c) of the IT Act.

RBI releases draft guidelines on Loan System for Delivery of Bank Credit

June 11, 2018 1455 Views 0 comment Print

The Reserve Bank of India today released draft guidelines on loan system for delivery of bank credit which stipulate a minimum level of ‘loan component’ in fund based working capital finance and a mandatory Credit Conversion Factor (CCF) for the undrawn portion of cash credit/ overdraft limits availed by large borrowers, with a view to enhancing credit discipline among large borrowers.

SOP regarding Export Promotion Schemes Management & Monitoring Cell

June 11, 2018 3162 Views 0 comment Print

The following standard operating procedure is notified regarding Export Promotion (EP) Schemes Management & Monitoring Cell which has been notified vide P.N. No. 91/2018, dated 30.05.2018.

Disclosure by Exchanges related to Deliverable Supply and Position Limits Calculation for Agricultural Commodity Derivatives

June 11, 2018 420 Views 0 comment Print

SEBI vide its circular No. CDMRD/DMP/CIR/P/201 7/84 dated July 25, 2017 had prescribed a principle based methodology for revising the commodity-wise numerical value of overall client level open position limits for agricultural commodities with reference to the ‘deliverable supply’ of the such commodities available in the country during a financial year.

HC orders release of detained goods on Compliance with GST Rule 140(1)

June 11, 2018 906 Views 0 comment Print

It is seen that an identical matter has been disposed of by a Division Bench of this Court in W.A. No. 1802 of 2017, directing expeditious completion of the adjudication of the matter and permitting release of the goods detained pending adjudication, in terms of rule 140(1) of the Kerala Goods and Services Tax Rules, 2017.

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