"01 January 2020" Archive

SEBI (Issue of Capital and Disclosure Requirements) (Seventh Amendment) Regulations, 2019

Notification No. SEBI/LAD-NRO/GN/2020/1 (01/01/2020)

1. These regulations may be called the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Seventh Amendment) Regulations, 2019. 2. They shall come into force on the date of their publication in the Official Gazette....

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CBDT to fine businesses ₹ 5,000/day for not using digital payment facilities

Specified persons are required to install and operationalise facilities for digital payment on or before January 31, 2020, However, if the specified person fails to do so, he shall be liable to pay a penalty of ₹ 5,000 per day during which such failure continues from February 01, 2020, under section 271DB of the Income Tax Act for such ...

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Posted Under: SEBI |

GST E-invoice (new year, new challenge, new invoice)

Article explains Who required to generated E-invoice under GST, Basic terms related to E-invoice under GST, Why we need to generate E-invoice under GST and  Important point to be considered while Generating E-invoice  under GST. 1. Who required to generated E-invoice under GST Mandatory – As per notification 70/2019 dated: 13/12/2...

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Posted Under: SEBI |

GST on Real Estate Transactions involving JDA/TDR wef 01.04.2019

GST on Real Estate Transactions involving Joint Development Agreements / Transfer of Development Rights wef 1st April 2019 (JDA/TDR) Construction and Real Estate is a complex business with multiple stakeholders involved in it. It has been a growing sector in India, but ironically has been riddled with litigation owing to multiplicity of ...

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Posted Under: SEBI |

Changes in GST exemption list, RCM List & more w.e.f. 01.01.2020

Recently, CBIC issued the following three notifications in regards to changes in the rate of tax, changes in RCM list & changes in the exemption list. Notification No. 27/2019- CTR 30.12.2019: Changes in Rate of Tax w.e.f. 01.01.2020 Notification No. 28/2019-CTR 31.12.2019: Changes in exemption list w.e.f. 01.01.2020 Notification No. ...

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Posted Under: SEBI |

Summary of GST notifications or Circular issued on 26th Dec, 2019

Basic and Concise information at one place regarding all the notifications and order issued on 26th Dec, 2019 for implementation decisions of 38th GST Council Meeting held on 18th, Dec 2019 by the CBIC. (Note 1- all the amendments made by the circulars or notification on dated 26th Dec, 2019 has been marked as bold) […]...

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Posted Under: SEBI |

Time for Corporates to self-evaluate -Taxation Laws (Amendment) Act, 2019 –Part I

In this Article we would be discussing about the Applicability of the new provisions as introduced by The Taxation Laws (Amendment) Act, 2019; the different Structure of Companies and the options available to them. A. Tax rates of company is broadly divided in two categories i.e. turnover based and conditional based from AY 2020-2021:...

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Posted Under: SEBI |

Section 195 TDS on Commission paid to Non-resident: An Analysis

Please also refer the case JLC Electromet Pvt. Ltd. Vs ACIT (ITAT Jaipur).  I’m trying to analyse only some of the provisions applicable, only for understanding purpose. As per Section 195 of Income Tax Act, any person who makes payment to non-resident by way of interest (except the interest as specified in Sections 194LB or […]...

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Posted Under: SEBI |

A Critical Analysis of “Shell Company”- Part 1

Shell company’ has neither been defined in the Companies Act, 1956 nor in the Companies Act, 2013. In Assam Co. India Ltd. Vs. Union of India, the Gauhati High Court has noted that there is no statutory definition of shell company, whether fiscal statutes or penal statutes. The High Court has attempted to define ‘shell [&helli...

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Posted Under: SEBI |

Sec-32A IBC, PLMA and Criminal Liability

Several companies that are undergoing proceedings under the Insolvency and Bankruptcy Code (IBC) are also facing investigations by the Enforcement Directorate (ED) over alleged money laundering by their promoters. ED, which is an investigative arm of the finance ministry, has claimed that it could attach such assets under the Prevention o...

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Posted Under: SEBI |