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Archive: October, 2019

Posts in October, 2019

Reg. inclusion of cesses, surcharge, duties in Brand Rate of duty drawback

October 11, 2019 1503 Views 0 comment Print

CBIC Clarification regarding inclusion of cesses, surcharge, duties, etc. levied and collected under legislations other than Customs Act, 1962, Customs Tariff Act, 1975 or Central Excise Act, 1944 in Brand Rate of duty drawback.

GST: Haryana Warehousing Corporation is not a ‘Government entity’

October 11, 2019 2106 Views 0 comment Print

In re Haryana State Warehousing Corporation (GST AAR Haryana) Whether definition of Government Entity as defined in Para 2 (zfa) in Notification No. 12/2017 Central Tax (Rate) dated 28.06.2017 as amended by Notification No. 32/2017- Central Tax (Rate) dated 13.10.2017 is applicable on the applicant i.e. Haryana State Warehousing Corporation? In order to qualify for […]

Transactions / projects not requiring MahaRERA Registration for Sale Agreement/Registration

October 11, 2019 8055 Views 1 comment Print

MAHARERA clarifies the transactions / projects which do not require MahaRERA Project Registration for Agreement for Sale / Sale Deed Registration. MAHARASHTRA REAL ESTATE REGULATORY AUTHORITY No. MahaRER/Secy /File No. 27/1004 Date: 11th October, 2019 Circular No: 25/2019 Subject: Clarification regarding Registration of Agreement for Sale / Sale Deed for Real Estate Projects Whereas in […]

Revision in Proforma & Reporting of Bank / Branch details under CISBI

October 11, 2019 2247 Views 0 comment Print

Consistent with the needs of branch licencing and financial inclusion policies as well as the need for requisite coverage of additional dimensions / features, a new reporting system, viz., Central Information System for Banking Infrastructure (CISBI) (https://cisbi.rbi.org.in), has been web-deployed to replace the legacy MOF system.

Registration of Self-Regulatory Organization for Promoters under MahaRERA

October 11, 2019 6105 Views 1 comment Print

In order to ensure greater professionalism among promoters, bring a certain level of consistency in the practices of promoters, enforcement of code of conduct and to discourage fraudulent promoters, it is proposed to introduce Self-Regulatory Organization (SROs) in the real estate sector in Maharashtra and register them with MahaRERA. Details are given below MAHARASHTRA REAL […]

IBC 2016: Dooray Paved Doorway

October 11, 2019 1128 Views 0 comment Print

Dooray, which had its registered office in Ameerpet and factory in Vishakhapatnam, was incorporated on June 14, 1995. It had a negative net worth at the end of March, 2004 and consequently was declared a sick company by the Board for Industrial and Financial Reconstruction (BIFR) on February 14, 2007.

Insolvency in Aviation Sector

October 11, 2019 4380 Views 0 comment Print

On April 17, 2019, Jet Airways (India) Limited (Jet Airways) announced that it would cease its operations and on June 20, 2019, the corporate insolvency resolution process (CIRP) of the company began. This is the first airline insolvency under the Code and is bound to bring forth unique issues arising out of an insolvency in the aviation sector.

Redesigning the Fast Track Resolution Process

October 11, 2019 4965 Views 0 comment Print

Chapter I; of Part II of the Insolvency and Bankruptcy Code, 2016 (Code) provides a fast- track process for the resolution of insolvency of small companies, start-ups, and unlisted companies with total assets below Rupees.

Foreign Company Compliance Under Companies Act 2013

October 11, 2019 37731 Views 3 comments Print

Definition of Foreign Company: ♦ As per definition given under Section 2 (42) of the Companies Act, 2013; “foreign company” means any company or body corporate incorporated outside India which,— (a) has a place of business in India whether by itself or through an agent, physically or through electronic mode; and (b) conducts any business […]

New GST Rate Applicable on Hotel Industry w.e.f. 01.10.2019

October 11, 2019 298758 Views 33 comments Print

GST Council in the 37th meeting held on 20th September, 2019 at Goa inter-alia, decided to lower GST rates on hotel tariff, outdoor catering and other miscellaneous items. To give effect to its decision they have issued Notification No. 20/2019-Central Tax (Rate) dated 30th September, 2019 NATURE OF SERVICE PARTICULARS TAXABLE AMOUNT TAX RATE CONDITIONS […]

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