"03 December 2019" Archive

CLC recommends decriminalisation of compoundable offences

The Company Law Committee, constituted by the Ministry of Corporate Affairs (MCA) vide order dated 18.09.2019, has submitted the first phase report to the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman on 18th November, 2019, proposing amendments in the Companies Act, 2013 for further decriminalising the offences unde...

Read More
Posted Under: Company Law |

No proposal to stop circulation of Rs 2,000 notes

An analysis of the search cases, conducted by Income Tax Department (ITD), involving cash seizures of more than Rs 5 crores in the last three Financial Years reveals that there is a declining trend visible in the seizure of unaccounted cash in denomination of Rs 2,000 notes....

Read More
Posted Under: Company Law |

MCA deactivates 19,40,313 Director Identification Numbers

The Ministry of Corporate Affairs (MCA) deactivated 19,40,313 Director Identification Numbers (DINs) in the MCA21 Database due to non-filing of Know Your Client  (KYC), as on 28.11.2019. This was stated by Shri Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha today....

Read More
Posted Under: Company Law |

18,782 cases filed under Insolvency & Bankruptcy Code

Ministry of Corporate Affairs 18,782 cases filed under Insolvency & Bankruptcy Code Posted On: 03 DEC 2019 4:20PM by PIB Delhi As on 30th June, 2019, a total of 18,782 cases have been filed under Insolvency and Bankruptcy Code (IBC), 2016, of which 2,173 cases have been admitted under IBC. Out of 2,173 admitted cases, 1,274 […...

Read More
Posted Under: Company Law |

Listing of Differential Voting Rights Shares- Superior Voting Rights by tech companies

SEBI Regulations prohibit issuance of shares with superior voting rights by listed companies.  The present regulatory regime dealing with issuance of DVR shares include the following: SEBI Listing Regulations, 2015:Reg 41(3) prohibits a listed company from issuance of shares which may confer on any person superior rights as to voting or...

Read More
Posted Under: Company Law |

Dematerialisation of Securities

What is dematerialisation and its benefits: Dematerialization (Commonly known as ‘Demat’) signifies conversion of a share certificate from its present physical form to electronic form for the same number of holding. It offers scope for paperless trading through state-of-the-art technology, whereby share transactions and transf...

Read More
Posted Under: Company Law |

NAA found builder Guilty of Not passing ITC benefit of 4.36 Crore to Customers

Smt. Mamta Aggarwal Vs GLS Infratech Pvt. Ltd. (National Anti-Profiteering Authority)

Smt. Mamta Aggarwal Vs GLS Infratech Pvt. Ltd. (National Anti-Profiteering Authority) Authority determines the profiteered amount as Rs. 4,35,53,927/- (inclusive of applicable GST @ 12% or 8%) for the 1075 residential units for the period from 01.07.2017 to 31.08.2018 as per the details furnished by the DGAP vide Annexure-20 of his above ...

Read More

GST Revenue Gives Hope Amidst Economic Slow Down

The opposition parties, mainly Congress have claimed that GDP for the Q3 of financial year 2019-20 is going to be further down, given the state of economy. India’s economic growth, GDP, has slipped to slab 5% level @ 4.5% in July – September quarter, which is a six year low. India’s GDP grew by 4.5% […]...

Read More
Posted Under: Company Law |

Menace of Rule 138E of CGST & E-way Bill Website – Blocking of E-way Bill

The CBIC has inserted Rule 138E in the CGST Rules which restricts generation of E-way bill by the taxpayer if the returns for a consecutive period of two months has not been furnished. Similarly, in case of composition taxpayers have not furnished the statement in FORM GST CMP-08 for two consecutive quarters. This rule has […]...

Read More
Posted Under: Company Law |

Service of interconnectivity between two points for transferring of data or its transmission cannot be held as OIDAR service

Philips Electronics India Ltd. Vs Commissioner of Central Tax (CESTAT Bangalore)

Philips Electronics India Ltd. Vs Commissioner of Central Tax (CESTAT Bangalore) The appellants, Philips Electronics India Ltd. are a 100% EOU (Software Technology Park Unit) are engaged in developing and export of software. No part of the output services are rendered to any client in India. The appellants have entered into various agreem...

Read More

Search Posts by Date

September 2021
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930