"15 May 2019" Archive

Bombay Public Trusts (Second Amendment) Rules, 2019

No. BPT-1117/C.R. 59/Desk XV (15/05/2019)

These rules may be called the Bombay Public Trusts (Second Amendment) Rules, 2019. 2. In rule 1 of the Bombay Public Trusts Rules, 1951, in sub-rule (1) i.e., in the short title and throughout the principal Rules, for the words and figures Bombay Public Trusts Rules, 1951 the words Maharashtra Public Trust Rules shall be substituted....

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10 reasons which make health insurance must-have for everyone

It is the fundamental right of every person to obtain at least the basic health amenities.  People should remember that they may be young and healthy but that does not make them invincible. A calamity can strike anyone at any given point of time. You need to be prepared to combat against any and every […]...

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Posted Under: Income Tax |

Improve your Low CIBIL Score & Get Approved for Best Personal Loan

Getting approved for online loans with low credit score is a nightmare. Sometimes, your application might get rejected due to your credit history. If you have had a low CIBIL score & want to repair it, then you must know the options to improve and get approved for a personal loan you want. Why don’t […]...

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Posted Under: Income Tax |

Role of Operational Creditor in Corporate Insolvency Resolution Process

Role of Operational Creditor in Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016– Article explains Who is an operational creditor, Application under Section 8 & 9., Appointing Insolvency Resolution Professional under Section 16, Procedure following Appointment, Right to Representation, Right...

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Posted Under: Income Tax |

FAQ’s: Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Ordinance, 2019

Trade Circular No. 20T of 2019 (15/05/2019)

Clarification and FAQ’s on Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Ordinance, 2019  related to the provisions of the Ordinance more particularly relating to determination of requisite amount, un-disputed tax to be paid under the Ordinance, issue based withdrawal of the appeals etc. Office of the Comm...

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Class Action Suit to NCLT & Omission of Fees for Compounding of certain Offences

G.S.R. 351(E) (16/05/2019)

National Company Law Tribunal (Second Amendment) Rules, 2019 (Class Action Suit to NCLT and Omission of Fees for Compounding of certain Offences U/S 441 Ministry of Corporate Affairs vide its Notification No. G.S.R. 351(E) dated 08th May, 2019 has notify National Company Law Tribunal (Second Amendment) Rules, 2019 which is effective from ...

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Posted Under: Income Tax |

Service tax on Ocean Freight: A Never ending pain

In this article, we shall discuss the Applicability of Service tax on Ocean freight paid along with value of goods in case of Import of goods. After the introduction of negative regime the provision related to Ocean freight underwent sea of changes which can be understood from below mentioned flow chart....

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Posted Under: Income Tax |

Notes on Redeemable Preference Shares

PREFERENCE SHARES Meaning of Preference Shares:  Preference Shares are not defined in the Definition part of the Companies Act, 2013. However it has been defined in Section 43 of the Companies Act, 2013 as below: Explanation (ii) to section 43 of the Companies Act, 2013 (‘the Act’) defines the term Preference Shares. “Preferenc...

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Posted Under: Income Tax |

GST AAR Karnataka permits Sanika Developers to withdraw application

In re M/s Sanika Developers (GST AAR Karnataka)

In re M/s Sanika Developers (GST AAR Karnataka) The activity of construction of complex or building intended for sale to a buyer wholely or partly, where the entire consideration has been received /receivable after completion of construction, be treated as supply of taxable service ? But the Applicant requested to permit them to withdraw ...

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18% GST payable on Centage Charges / Consultancy Charges

In re Ms. Kerala State Construction Corporation Ltd. (GST AAR Kerala)

In re Ms. Kerala State Construction Corporation Ltd. (GST AAR Kerala) The GST rate applicable for Centage charges / Consultancy charges. The Centage Charges / Consultancy Charges received by the applicant in respect of the works at Si Nos. (1) to (4) above being in relation to pure services provided to the State Government by […]...

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