"29 June 2019" Archive

Demat Account for Immovable Properties

According to the top sources, the Central Government is planning to implement the Demat Account Scheme for  buying  and selling of Immovable Property(ies) including flats, shops and godowns....

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Posted Under: Corporate Law |

Letter of Authorization / Verification for filing of annual return on FLA

Format of Authority Letter of Authorization for filing of annual return on FLA and Format of Verification letter for CIN / LLPIN / Others UIN (in case of Alternative Investment Fund / Partnership Firm / Public Private Partnership) and PAN of authorised person filing annual FLA form...

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Posted Under: Corporate Law |

User Manual for FLA User Registration Form (Company/LLP/Others)

Foreign Liabilities and Assets Information Reporting (FLAIR) User Manual for FLA User Registration Form (Company/LLP/Others) 1. Who is an Entity? A Company within the meaning of section 1(4) of the Companies Act, 2013 A Limited Liability Partnership (LLP) registered under the Limited Liability Partnership Act, 2008 Others [include SEBI re...

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Posted Under: Corporate Law |

How to submit online FLA Form (Company/LLP/ Others)

Foreign Liabilities and Assets Information Reporting (FLAIR) User Manual for submission of online FLA Form (Company/LLP/ Others) 1. FLA online form 1.1 Logging on to FLA online form Step 1: Enter your user name, new password and valid Captcha. (The captcha is case sensitive.) Step 2: Enter OTP code (the user will receive the OTP […...

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Posted Under: Corporate Law |

Annual Return on Foreign Liabilities and Assets (FLA): FAQs

General Instruction Q1. What will be the consequences in case we do not file the said FLA Return by 15th July, as our accounts are not audited as yet, and we do not wish to file it with unaudited figures. Will there be any imposition of penalty or prosecution initiated against the company by RBI […]...

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Posted Under: Corporate Law |

NDDB cannot be treated as Governmental Authority in absence of sufficient information: AAAR

In re National Dairy Development Board (GST AAAR Gujarat)

In re National Dairy Development Board (GST AAAR Gujarat) Member (Central) held that in absence of sufficient information, it cannot be determined whether M/s. NDDB is ‘Governmental Authority’. It is also held that exemption in not admissible to M/s NDDB for providing services of “Renting of Immovable property” Member (State) agre...

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Issues in filing Form GSTR 9C / Form GSTR 9: Steps to be taken

Issues reported in filing Form GSTR 9C by the taxpayers: Steps to be taken-  29/06/2019 Taxpayers have reported some issues in filing their Form GSTR 9C, which are clarified below: 1. User getting error message while using Excel version: You are also advised to use Microsoft excel version higher than 2007 while preparing Form GSTR [&hell...

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Kerala Flood Cess to be levied from 1st day of August, 2019

S.R.O. No. 436/2019 (29/06/2019)

Government have decided to appoint the date of levy and collection of Kerala Flood cess with effect from the 1st day of August, 2019 and also to make suitable amendment in the said rules....

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Section 147: Manner of recording satisfaction not prescribed

Shri Sushil Kumar Golecha Vs ACIT (ITAT Indore)

Shri Sushil Kumar Golecha Vs ACIT (ITAT Indore) The law is well settled where the issue of jurisdiction of assessing authority is concerned, if the jurisdiction assumed is not in accordance with law, then it cannot be cured or ignored under the provisions of section 292B of the Act. In our considered view, the assumption […]...

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GST refund on inward supply of indigenous goods by retail outlets established at departure area of  international airport

Circular No. 106/25/2019-GST (29/06/2019)

Clarification on GST Refund of taxes paid on inward supply of indigenous goods by retail outlets established at departure area of the international airport beyond immigration counters when supplied to outgoing international tourist against foreign exchange vide Circular No. 106/25/2019-GST dated 29th June, 2019. Circular No. 106/25/2019-G...

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