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Archive: October, 2019

Posts in October, 2019

Empanelment as Concurrent Auditors with Vidharbha Konkan Gramin Bank

October 22, 2019 3723 Views 0 comment Print

Vidharbha Konkan Gramin Bank invites applications from practising Chartered Accountants who fulfil the eligibility criteria as mentioned hereunder and are willing to have their Firms empanelled as Concurrent Auditors in the Bank for conducting Concurrent Audit at different intervals of 326 branches spread over 17 Districts of Maharashtra. District-wise list of branches is given in Annexure-II.

Buy Back of Shares under SEBI Regulation and Companies Act, 2013

October 22, 2019 43512 Views 1 comment Print

Article explains Securities And Exchange Board Of India (Buy-Back Of Securities) Regulations, 2018, Conditions and requirements for buy-back of shares and specified securities, General compliance and filing requirements for buy-back, Disclosures, filing requirements and timelines for public announcement, Disclosures, filing requirements and timelines for draft letter of offer, Offer procedure, Buy Back Through tender offer, […]

Entry Tax on Unmanufactured Tobacco in ‘Sealed Container’ is Justified: HC

October 22, 2019 1455 Views 0 comment Print

HC held that The Notification impugned dated 1.10.2013 issued by the Government of Karnataka insofar it relates to the amendment made to the Notification dated 30.3.2002 for insertion of sub-item [ii] in Serial No.[5], specifying unmanufactured tobacco in ‘sealed container’ for levy of Entry Tax at 5% with effect from 02.10.2013 cannot be held to be unjustifiable and is accordingly upheld.

Introduction of online module for facilitation of MSMEs – reg

October 22, 2019 2424 Views 0 comment Print

As a trade facilitation measure, Mumbai Customs Zone-II has introduced a facility for Micro, Small and Medium Enterprises (MSME) wherein MSMEs can opt for registering themselves under ‘MSME Seva Module’ on the DPD JNCH website i.e. (www.dpdjnch.com).

Framework for listing of Commercial Paper and disclosures

October 22, 2019 6195 Views 0 comment Print

The issuers of Commercial Papers (CPs) have shown interest to list CPs for trading on Stock Exchange(s) with a view to broadening investor participation in CPs. Accordingly, to enable listing of CPs and to ensure investor protection, it is important that issuers make appropriate disclosures at the time of listing and on a continuous basis.

Mis-declaration of imported goods under ‘Others’ category of ITC (HS) 2017

October 22, 2019 2478 Views 0 comment Print

Members of the trade and industry are hereby advised to be careful while mentioning HS Codes in the Bill of Entry, in case of imports and Shipping Bills in case of exports, and indicate the specific HS codes of items at 8 digit where they exist, instead of using the ‘Others’ category in a loose and inaccurate manner Any wilful mis-declaration of HS Codes will be duly dealt with under Foreign Trade (Development & Regulation) Act, 1992.

Provisions in Brief Relating to Directors Identification Number

October 22, 2019 2757 Views 0 comment Print

Q.1 What is DIN ? Ans: A Unique identification number allotted to an existing director or a person intending to become a director of a Company. Q.2 How DIN is Obtained ? Ans: 1. Any person intending to become a director in an existing company shall have to make an application in Form DIR-3. 2. […]

CESTAT can be temporary GSTAT if GST Council agrees- Suggestion in Delhi HC

October 21, 2019 954 Views 0 comment Print

He has also made a suggestion that instead of constituting a separate tribunal to deal with GST matters, the CESTAT could be empowered to deal with the same since several cases involve issues relating to customs duties and GST as well.

SC set aside Delhi HC order restraining I-T dept from taking action Gautam Khaitan

October 21, 2019 822 Views 0 comment Print

Union of India and Ors. Vs Gautam Khaitan (Supreme Court) Scheme of the Black Money Act is to provide stringent measures for curbing the menace of black money. Various offences have been defined and stringent punishments have also been provided. However, the scheme of the Black Money Act also provided one time opportunity to make […]

GST offences, penalties and appeals

October 21, 2019 13095 Views 1 comment Print

Being a destination based, transaction wise tax, Goods and Services Tax (GST) ropes in strict compliance procedures for all the taxpayers or people falling under the gamut. Since every transaction is being recorded and tracked between the source and destination, it is obligatory for the taxpayers to maintain and declare information with utmost accuracy. GST […]

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