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Archive: 06 December 2018

Posts in 06 December 2018

SEBI (Mutual Funds) (Third Amendment) Regulations, 2018

December 6, 2018 1161 Views 0 comment Print

Securities and Exchange Board of India (Mutual Funds) (Third Amendment) Regulations, 2018 shall come into force on the date of their publication in the Official Gazette.

Advocate can accompany any person summoned by Director General

December 6, 2018 1662 Views 0 comment Print

No misconduct on the part of the Advocate, accompanying the person summoned during continuance of his presence before the DG shall be permitted. In case of any misconduct, the DG for reasons to be recorded in writing shall forward a complaint to the Commission.

Transfer of Patent Rights subject to tax under CST Act

December 6, 2018 1686 Views 0 comment Print

Transfer of patent rights would be subject to CST as while transferring of intangible rights obtained under a statute, to another entity having its place of business in another State; from where the transferee intended to exercise such rights thereafter, postulated a movement of the intangible, corporeal goods from one State to another and, hence, would be an inter-state sale assessable to tax. 

Advance Ruling under GST – Is it worth exploring?

December 6, 2018 1761 Views 0 comment Print

The introduction of Goods and Service Tax (‘GST’) from 1 July 2017 was a biggest tax reform in India since independence as GST had subsumed majority of key indirect taxes which were there in system since decades. GST has also made substantial change not only on taxability of the goods/ services, but also the time when the same would be taxable and also, the rate at which the same would be taxable.

Employees’ Provident Funds (Amendment) Scheme, 2018

December 6, 2018 10752 Views 2 comments Print

68HH. Non-refundable advance to a member in case of continuous un-employment for a period of not less than one month.- The Commissioner or, where so authorised by the Commissioner, any other officer subordinate to him, may permit a member, on ceasing to be an employee in any factory or establishment to which the Act applies, a non-refundable advance upto seventy-five percent of the amount standing to his credit in the Fund, if he has not been employed in any factory or other establishment for a continuous period of not less than one month immediately preceding the date on which he makes an application for such non-refundable advance

Customs Rate of Exchange of Foreign Currency wef 07.12.2018

December 6, 2018 1875 Views 0 comment Print

Customs Rate of Exchange of Foreign Currency Conversion wef 07.12.2018 notified vide Notification No. 96/2018 – Customs (N.T.) dated 6th December, 2018. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 96/2018-Customs (N.T.) New Delhi, dated the 6th December, 2018 In exercise of the powers […]

“Board Meeting Compliance’s – An Overview”

December 6, 2018 48321 Views 0 comment Print

Board Meeting:  A meeting of the board of directors of a company at which the policy of the Company and major decisions as to its future actions are discussed. The powers of the board are usually set out in the company’s Articles of Association (AOA). Frequency of Board Meetings (u/s 173 of CA, 2013 & SS-1) […]

Revised All Industry Duty Drawback Rates applicable from 19 Dec. 2018

December 6, 2018 13722 Views 0 comment Print

CBIC notifies Revised All Industry Duty Drawback Rates Schedule applicable w.e.f. 19 Dec. 2018, vide Notification No. 95/2018 Customs (NT) dt. 6 Dec. 2018 Duty Drawback Rates increased on most of the products like fish and fish products, calcined petroleum coke, various chemicals, dyes, tyres, leather articles, textiles, carpets, electronic goods, mobiles etc Government Of […]

Govt suspends FCRA registration of 156 Associations for not opening PFMS integrated bank

December 6, 2018 1023 Views 0 comment Print

Order placing Associations under Suspension for not opening FCRA account(s) in PFMS integrated bank No.II/21 022/58(951 )/PFMS/20 17/FCRA(MU) Government of India Ministry of Home Affairs Foreigners Division Major Dhyan Chand National Stadium, Outer India Gate, New Delhi-110001 Dated 6th Dec 2018 ORDER Whereas, the associations mentioned in the list as attached at Appendix “A” are registered […]

ITAT confirms addition for Bogus LTCG

December 6, 2018 1419 Views 0 comment Print

Assessee come out with the plea that they were not provided with opportunity of cross-examining the witness, the investigation report was not furnished and proper opportunity was not provided of being heard. However we find that all these arguments raised by the assessee before us was never alleged before the AO when the matter was before them.

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