Binani Industries Limited Vs Bank of Baroda & Anr. (NCLAT, Delhi) In exercise of powers conferred by Section 31 of the ‘I&B Code’ read with order of remand by the Hon’ble Supreme Court, we have gone through the records, revised ‘Resolution Plan’ submitted by ‘Ultratech Cement Limited, gist of which noticed earlier and being satisfied […]
Kirtiman Cements and Packaging Industries Ltd. Vs ACIT (ITAT Delhi) Provisions of law on unabsorbed deprecation which is allowed as depreciation of current year under section 32(2) fall in section 71 and not under section 72, as such, allowable as ‘business expenditure’. Therefore, unabsorbed depreciation of current year and earlier year was allowable against income […]
In re IMS Proschool Pvt. Ltd. (GST AAAR Maharashtra) The Appellate Authority for Advance Ruling upheld the ruling given by the Advance Ruling Authority by observing that since they are not providing any services in relation to the NSDC programme implemented by the NSDC, they are not eligible for the exemption provided in the entry […]
In re Taraltec Solutions Pvt. Ltd (AAAR Maharashtra) It is evident that the impugned product manufactured by the Appellant does not merit classification under the sub-heading 8413 91- as “Hand Pumps and parts thereof” as contended by the Appellant. We hold that the same is classifiable, in line with the contention made by the Jurisdictional […]
Messrs Maxim Tube Company Pvt Ltd. Vs Union of India (Gujarat High Court) CONCLUSION – Condition that renders the very scheme of advance authorization nugatory, does not have any nexus to the objective of the advance authorization i.e. to boost export, is unsustainable in law. FACTS – Para 4.14 of the FTP was amended vide […]
Sovereign Gold Bond Scheme (Updated as on February 4, 2019) 1. What is Sovereign Gold Bond (SGB)? Who is the issuer? SGBs are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on […]
In light of the recent notifications, Act amendments, It is highly advisable to plunge into the changes and understand their implications on our business therefore there are various palaces on few major changes that GST has undergone, and the impact it could have on the GST returns in the year 2019. (a) RCM on Security […]
The Kisan Credit Card Scheme aims at providing adequate and timely credit support from the banking system under a single window with flexible and simplified procedure to the farmers for short term crop loans. In order to extend the operational flexibility to farmers engaged in Animal Husbandry and Fisheries the Government of India had announced their decision to extend the facilities of KCC to these farmers in the Budget 2018-19.
WHAT HAS TO BE FILED IN FORM 20A: Company shall file a declaration by a Director that every subscriber to the memorandum has paid the value of the shares agreed to be taken by him on the date of making of such declaration.
Amendment vide Notification No. 03/2019 – Customs dated 29th January, 2019 in BCD rate on Electric Vehicle (EV) and their specified part and raw material for manufacture of Lithium ion cells with effect from 30th January 2019 Earlier Notifications : Principal notification No.50/2017-Customs, dated the 30th June, 2017 and notification No. 80/2018 -Customs, dated the 15th December, […]
