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Archive: August, 2019

Posts in August, 2019

GST AAAR cannot entertain an appeal after 60 days from the date of communication of AAR order

August 16, 2019 1239 Views 0 comment Print

In re M/s. Nuetech Solar Systems Private Ltd. (GST AAAR Karnataka) On a plain reading of the provisions of Section 100 of the said Act, it is apparent that the same mandates that an appeal should be filed within 30 days from the date of communication of the advance ruling order that is sought to […]

Power Bank classifiable under Heading 8507 as Accumulator: AAAR Karnataka

August 16, 2019 10626 Views 0 comment Print

In re Xiaomi Technology India Private Limited (GST AAAR Karnataka) In this case, we find that the Power Banks consists of not only the Lithium-ion Polymer battery but also the circuitry such as ‘charge management system’ and ‘voltage boost converter’. All the components together make up the Power Bank. Admittedly, it is not the battery […]

Deposits under Gold Monetisation Scheme, 2015 shall be made at CPTC

August 16, 2019 789 Views 0 comment Print

Gold Monetisation Scheme, 2015- All deposits under the scheme shall be made at the Collection and Purity Testing Centre (CPTC) except in cases as prescribed by RBI. Reserve Bank of India RBI/2019-20/43 DBR.IBD.BC.No.13/23.67.001/2019-20 August 16, 2019 All Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir/Madam Gold Monetisation Scheme, 2015 In exercise of the powers […]

Protection of Children from Sexual Offences (Amendment) Act, 2019 applicable from 16.08.2019

August 16, 2019 816 Views 0 comment Print

Central Government hereby appoints the 16th August, 2019 as the date on which the Protection of Children from Sexual Offences (Amendment) Act, 2019 shall come into force. MINISTRY OF WOMEN AND CHILD DEVELOPMENT (CW-I Section) NOTIFICATION New Delhi, the 16th August, 2019 S.O. 2957(E).—In exercise of the Powers conferred by sub-section (2) of section 1 […]

Companies (Share Capital and Debentures) Amendment Rules, 2019

August 16, 2019 8496 Views 0 comment Print

(1) These rules may be called the Companies (Share Capital and Debentures) Amendment Rules, 2019. (2) They shall come into force on the date of their publication in the Official Gazette.

Liquidation order of Amtek Auto Limited- Need to review provisions of IBC 2016

August 16, 2019 3015 Views 0 comment Print

Recently the Delhi bench of National Company Law Appellate Tribunal (NCLAT) has passed an order for liquidation in the case of Amtek Auto Limited. The two-judge Bench headed by Justice S J Mukhopadhya, stated in its order ‘As we have noted that more than 270 days have been completed much earlier and no case is made to exclude any period, we hold that adjudicating authority has no other option but to pass order of liquidation.’

Decoding Section 153C- Assessment of Income of any other person

August 16, 2019 13056 Views 0 comment Print

Unlock the complexities of Section 153C for the assessment of income in search cases. Delve into the essentials, the satisfaction process, and the impact of incriminating materials on other individuals. Stay informed about the amendments and nuances to navigate the assessment landscape effectively. Consult tax experts for personalized guidance.

FAQs on Anti-Profiteering under GST

August 15, 2019 4644 Views 0 comment Print

The Sec. 171 of CGST/SGST Act, 2017 and the Rule 122 to Rule 137 of the CGST/SGST Rules, 2017 envisages the relevant legal provisions, including the administrative and procedural aspects of the Anti-profiteering.

GST on development agreements- Transition from Pre GST to GST regime

August 15, 2019 9681 Views 2 comments Print

The issue of levy of GST on development agreements has always been a bone of contention between the revenue department and the persons liable to pay GST on such transactions being the developer and the landowner. The challenge to the levy arises on the following issues: 1. Whether execution of development agreements between land owner […]

Conversion Cut off date for Nov 2019 Exams of CA Inter/ Final

August 15, 2019 969 Views 0 comment Print

Cut-off date for conversion from Earlier Scheme to Revised Scheme to appear in November, 2019 Intermediate Examinations – 7th September, 2019 This is in continuation of our announcement dated 22nd July, 2019 The last date of conversion from Earlier Scheme to Revised Scheme to appear in Intermediate November, 2019 examinations was 27th August, 2019. Considering […]

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