"28 December 2019" Archive

Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019

Notification No. 16 of 2019 (28/12/2019)

Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019 is  been assented by Hon’ble president and has come into force with effect from 28th December, 2019. MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 28th December, 2019 THE INSOLVENCY AND BANKRUPTCY CODE (AMENDMENT) ORDINANCE, 2019 No. 16 OF 2019 Promulg...

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Response to Income tax notice u/s 143(1)(a)

Have you received any notice u/s 143(1)(a). No worries here is what you have to do! Central Processing Centre (CPC) a branch of Income tax department (ITD) who is responsible for accurate processing of return. Following are different stages of filing and processing of return 1. Filing of Income tax return  (Status : Return Filed/Pending ...

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Posted Under: Corporate Law |

What are the criteria to fulfil to be eligible for Government Tender?

In general, ‘tender’ means a process to invite bids (i.e. offers or proposals) for a definite work. Likewise, ‘Government tender’ is also a process through which government invite submissions/ bids for a specific project or work to be carried out in a definite time. The government offers vide number of tenders in the form ...

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Posted Under: Corporate Law |

Sec-135 Corporate Social Responsibility

Applicability of Corporate Social Responsibility    Every company having net worth of rupees five hundred crore or more or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during the immediately preceding financial year shall constitute a Corporate Social Responsibility Committee of the Board c...

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Posted Under: Corporate Law |

India At Last Finding Some Ways to Regulate Imports- Curbs on Non-Essential Goods

Imports are foreign goods and services that are produced in a foreign country and sold to domestic residents of a country. If a country Imports more than it Exports it runs a Trade Deficit. When a country has a trade deficit, it must borrow from other countries to pay for the extra imports. India is traditionally a Trade Deficit Count...

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Posted Under: Corporate Law |

NAA held ‘Caroa Properties’ Guilty of Profiteering

Potnoor Naveen Vs Caroa Properties LLP (National Anti-Profiteering Authority)

Potnoor Naveen Vs Caroa Properties LLP (National Anti-Profiteering Authority) It is also evident from the perusal of the facts of the present case that the Respondent has denied benefit of ITC to the buyers of the flats and the shops being constructed by him in his Project ‘Godrej City Panvel Phase-I’ in contravention of the [...

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GST on mobilization advance for works contract- Date of Supply

In re Siemens Limited (GST AAAR  West Bengal)

In re Siemens Limited (GST AAAR  West Bengal) Whether mobilization advance for works contract is supply on the date on which it stands credited on the supplier’s account The appellant argued that the lump sum amount was received by them on 24.06.2011 and they have determined the applicability of taxes on the same as per […]...

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Pooja oil classifiable under Chapter sub-heading 1518 00 40: AAAR

In re S.K. Aagrotechh (GST AAAR Karnataka)

In re S.K. Aagrotechh (GST AAAR Karnataka) Having concluded that Pooja Oil is classifiable under sub-heading 1518 00 40 of the Customs Tariff as inedible mixtures or preparations of vegetable fats or oils or of fractions of different fats or oils of this Chapter, not elsewhere specified or included, let us now determine the GST […]...

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Power of GST Appellate Authority to condone delay in filing appeal

In re Durga Projects & Infrastructure Pvt Ltd (GST AAAR Karnataka)

It is evident that this Appellate Authority being a creature of the statue is empowered to condone a delay of only a period of 30 days after the expiry of the initial period for filing appeal. As far as the language of Section 100 of the CGST Act is concerned, the crucial words are "not exceeding thirty days" used in the proviso to sub-se...

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EVM is beyond the scope of RTI Act : Delhi HC

Election Commission of India Vs Central Information Commission & Anr (Delhi High Court)

Election Commission Of India Vs Central Information Commission (Delhi High Court) An EVM which is sought for by this RTI application is not miniature/replica and hence cannot said to be a model. It cannot be termed to be information within the meaning of Section 2(f) of the Act. It is manifest that Section 3 of the […]...

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