"18 October 2019" Archive

Income Tax Department conducts Search on wellness group

On 16.10.2019, the Income Tax Department conducted search action under the Income-tax Act, 1961 in the case of a conglomerate of trusts and companies that run year-round wellness courses and training programmes in philosophy, spirituality, etc at various sprawling residential campuses in Varadaiahpalem in AP, and also in Chennai and Banga...

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Posted Under: Income Tax |

Resignation of statutory auditors from listed entities and their material subsidiaries

Circular No. CIR/CFD/CMD1/114/2019 18/10/2019

Resignation of an auditor of a listed entity / its material subsidiary before completion of the audit of the financial results for the year due to reasons such as pre-occupation may seriously hamper investor confidence and deny them access to reliable information for taking timely investment decisions....

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New Provision in Handbook of Procedure 2015-20 of cases referred to NCLT

Public Notice No. 39/2015-2020-DGFT 18/10/2019

A new para has been added in Chapter 2 of Foreign Trade Policy 2015-20 for operational modalities to be followed for the cases referred to National Company Law Tribunal vide Public Notice No. 39/2015-2020 dated: 18th October, 2019. Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign ...

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New Provision in FTP 2015-20 of cases referred to NCLT

Notification No. 25/2015-2020-DGFT [S.O. 3752(E)] 18/10/2019

A new para has been added in Chapter 2 of Foreign Trade Policy 2015-20 about the cases referred to the National Company Law Tribunal vide Notification No. 25/2015-2020 dated 18th October 2019. Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan ***** Notification N...

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Partnership deed not automatically binds legal heirs of deceased partner

S.P. Misra & Ors. Vs Mohd. Laiquddin Khan & Anr. (Supreme Court)

S.P. Misra & Ors. Vs Mohd. Laiquddin Khan & Anr. (Supreme Court) It is true that as per the deed of partnership, the partners have agreed, in the event of death of either party, their respective legal representatives shall automatically become partners in the partnership firm and they shall continue to act as partners of […...

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AAR rejects application as same issue was already pending before another authority

In re M/s Anik Milk Products Private Limited (GST AAR Madhya Pradesh)

The application filed by the applicant is rejected as not admissible in terms of first Proviso to Section 98(2) of the GST Act 2017, since the issue was already pending before another authority when the application was made before AAR....

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Extend last date of filing of IEPF-1A under IEPF Rules, 2016: ICSI

Extension of last date for filing of Form No. IEPF - 1A under the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016...

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Posted Under: Income Tax | ,

GST on Services provided by Ordnance Factory Bhandara: AAAR

In re Ordnance Factory (GST AAAR Maharashtra)

In re Ordnance Factory (GST AAAR Maharashtra) Question: 1) Being a part of the Ministry of Defence, Government of India, whether our organization Ordnance Factory Bhandara is liable to pay GST on the following supply of services: – a) Liquidated damages deducted from the payments to be made to suppliers in case of delayed delivery [...

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GST on Starter Ring Gear, Universal joint Cross & Starter Ring Gear Flywheel Assembly

In re EI-Chico Clutch Pvt. Ltd. (AAR GST Haryana)

In re EI-Chico Clutch Pvt. Ltd. (AAR GST Haryana) 1.  Whether parts namely Starter Ring Gear Flywheel Assembly, Starter Ring Gear and Universal joint Cross (U.J. Cross) supplied for use in motor vehicle is classifiable under HSN 8708 or 8483 and  What is the applicable rate of GST i.e. 28% or 18% on parts namely […]...

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AAR cannot give ruling on issue pending with SGST Authorities

In re G.B Pant University of Agriculture and Technology (GAT AAR Uttarakhand)

Since the question raised in the application is pending with SGST Authorities under the provisions of this Act, therefore as per proviso to section 98(2) of the Act the said application filed by the applicant is hereby not admitted....

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