"18 December 2019" Archive

Mere dismissal of SLP by SC does not constitute a declaration of law

P. Singaravelan & Ors. Vs The District Collector Tiruppur and DT & Ors (Supreme Court)

P. Singaravelan & Ors. Vs The District Collector Tiruppur and DT & Ors (Supreme Court) It is useful to recall that it is well-settled that the dismissal of an SLP against an order or judgment of a lower forum is not an affirmation of the same. If such an order of this Court is non-speaking, […]...

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E-invoice and QR Code under GST- 10 Things to know

E-invoice and QR Code (Notification no. 68, 69, 70, 71 & 72/2019 –Central Tax all dated 13th December, 2019) 1. Starting from April 1,2020 a new invoicing system is to be introduced in the GST business process. A standardised protocol will be enabled to generate and read electronic invoices. 2. An e-invoice raised by a […]...

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Posted Under: Corporate Law |

Is E-Invoicing under GST a Boon?

Background The transportation of goods from one place to another is facilitated by the filing of ‘E-Way Bills’ on the common GST portal. Similarly, the GST Council has decided to implement a system of e-invoicing which will be applicable to specified categories of persons (For large Taxpayers). e-invoicing is not the generation of inv...

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Posted Under: Corporate Law |

Company with huge asset base cannot be compared with company having insignificant assets

Evalueserve.com Pvt. Ltd. Vs DCIT (ITAT Delhi)

If a company is having huge asset base, brand value, goodwill and presence in global market with significant R & D, then it cannot be compared with a company which is purely captive service provider in ITeS/BPO, having low risk and insignificant assets....

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A Brief about New Section 194M of Income Tax act, 1961

A New section, 194M has been introduced vide finance act, 2019 with regard to Payment of certain sums by certain individuals or Hindu undivided family, which reads as follows: Any person, being an individual or a Hindu undivided family (other than those who are required to deduct income-tax as per the provisions of section 194C, section...

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Posted Under: Corporate Law |

CPC-Constructive notice, not sufficient-‘Willful disobedience’ to be proved beyond doubt

Makkhan Singh Vs Shyam Singh And 3 Others (Allahabad High Court)

Makkhan Singh Vs Shyam Singh And 3 Others (Allahabad High Court) CPC-Constructive notice, held not sufficient-‘Willful disobedience’ to be proved beyond doubt-Court not to proceed on surmises or inferences As regards the contention raised on behalf of the plaintiff/petitioners with regard to presumption of service of notice in...

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NCLT: Directs for access of GST Portal to Corporate Debtor to pay GST liability

Any company once gone into CIRP, if at all the Corporate Debtor is to be run as a going concern, it can be obligated to pay the taxes from the date of initiation of CIRP. As to the dues of pre-admission period, the creditors, including Tax authorities, are entitled to make a claim against the Corporate Debtor as mentioned in the Insolvenc...

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Posted Under: Corporate Law |

Immediate Steps needed to make GST Compliances Easier

URGENT STEPS NEEDED  TO MAKE GST COMPLIANCES EASIER Business community is still not able to cope up with the GST Compliances due to various complicated and irrational provisions. Based on the feedback received from various stakeholders I have listed some of the suggestions  which will be helpful with respect to : a) ease of doing [&hell...

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Posted Under: Corporate Law |

FM holds Pre-Budget consultation with Finance Ministers of State/UTs

Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman held the Pre-Budget consultations with Finance Ministers of States and UTs (with legislature) here today....

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Posted Under: Corporate Law |

Section 43B: PF & employees state insurance payment within Grace Period Allowable

CIT vs Bharat Hotels Ltd. (Delhi High Court)

Whether the payment of provident fund and employees state insurance (ESI) dues deposited by the Assessee within the grace period would qualify for deduction under Section 43B of the Income Tax Act, 1961?...

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