"11 June 2018" Archive

Notice in PDF format Delivered Through WhatsApp is Valid

SBI Cards & Payments Services Pvt Ltd Vs Rohidas Jadhav (Bombay High Court)

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 […]...

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

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)...

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Posted Under: Corporate Law |

Order U/s. 201(1) cannot be passed after expiry of limitation period

Vodafone Cellular Ltd. Vs DCIT (ITAT Pune)

Vodafone Cellular recent appeal: No order under section 201(1) of the Act shall be passed after expiry of the limitation period treating assessee-in-default for non-deduction of tax at source...

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

Nila Infrastructure Limited vs. Surat Municipal Corporation (Gujarat High court)

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. [&...

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New form of MVAT Audit report and GST Issues

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. ...

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Posted Under: Corporate Law |

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

M/s. Advance Power Display Systems Ltd. Vs DCIT (ITAT Mumbai)

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....

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

Press Release: 2017-2018/3244 11/06/2018

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 en...

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SOP regarding Export Promotion Schemes Management & Monitoring Cell

Standing Order No. 19/2018-JNCH 11/06/2018

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....

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

SEBI/HO/CDMRD/DMP/CIR/P/2018/96 11/06/2018

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 ...

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GST on Cold Storage services related to Agricultural & Other Produce

In re Sardar Mal Gold Storage & Ice Factory (GST AAR Rajasthan)

Goods mentioned under Group A fall under the definition of Agricultural Produce in terms of the aforesaid notification and so supply of cold storage service in relation to these is exempt from the levy of GST....

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