"05 March 2020" Archive - Page 4

LLP Settlement Scheme 2020 for Defaulting LLPs

LLP settlement scheme-2020- Defaulting LLPs Can Breathe A Sigh Of Relief!!!! Ministry of Corporate affairs vide its General Circular No. 6/2020‘ dated 04th March, 2020 notified ‘LLP settlement Scheme, 2020′. Article explains LLP Settlement Scheme-2020 in a Nutshell with FAQs. > LLP Settlement Scheme-2020 in a Nutshel...

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Posted Under: Corporate Law |

LLP Settlement Scheme, 2020 – A welcome move for LLPs

The Central Government in exercise of its powers under Section 460 of the Companies Act, 2013 decided to introduce a scheme called “LLP Settlement Scheme, 2020” to grant the defaulting Limited Liability Partnership (LLP), a one-time window to condone the delay in filing of some statutorily required documents with Registrar. Ministry o...

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Posted Under: Corporate Law |

No section 68 addition for loan transaction with father on mere suspicion

Girish Madhukar Rathi Vs DCIT (ITAT Pune)

The issue under consideration is that confirming the addition made u/s 68 by A.O. in respect of the loan taken from father of the appellant on mere suspicion....

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GTA Service: AAR cannot rule on ‘procedure’ which applicant can follow

In re Liberty Translines (GST AAR Maharashtra)

In re Liberty Translines (GST AAR Maharashtra) The second question raised by the applicant is whether Applicant would be right in charging GST @12% under Forward Charge mechanism to POSCO in terms of Notification No 20/2017-Central Tax (Rate) 2017 dated 22 August, 2017 when POSCO as the main contractor is already charging GST @12% under ...

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LLP Settlement scheme 2020- 7 FAQs

LLP Settlement scheme 2020, FAQ on 4 FORM and Rs. 5000 Maximum Late fees. 1. Who Can avail LLP Settlement scheme 2020? Any LLP which is active and which has not filed an application in Form 24 for striking of their name from the registrars as per provisions of Rule 37(1) of the LLP Rules, […]...

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Posted Under: Corporate Law |

GST on shifting / erection of electrical lines for Main Contractor of NHAI

In re Gaurish Sharma (G K Enterprises) (GST AAR Rajasthan)

In re Gaurish Sharma (G K Enterprises) (GST AAR Rajasthan) Applicant is proposing to submit a bid for shifting / erection of electrical lines only to M/s Sadbhav Jodhpur Ring Road Pvt. Ltd who is the main Contractor of NHAI. Thus the activity to be carried out by the applicant is restricted to shifting / […]...

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Bogus Billing & Fake E-Way Bills: HC sustains Provisional Bank Account attachment Order

JSK Sons Vs State of Gujarat (Gujarat High Court)

The issue under consideration is whether the order for provincial attachment of bank accounts against bogus billing and fake generation of E-­Way bills without the actual physical movement of goods is justified in law?...

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Brief Overview of LLP Settlement Scheme 2020

As per one estimate, the scheme could benefit 20-25 per cent of the 1.25 lakh LLPs registered in the country*. To give one time opportunity to such defaulting LLPs, MCA, on March 4, 2020 announced LLP Settlement Scheme 2020 (Scheme). Under the Scheme, LLPs will be given a three-month window to complete overdue filings of […]...

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Posted Under: Corporate Law |

LLP Settlement Scheme 2020- Condoning delay in form filing

Central Government has decided to introduce a scheme namely ‘LLP Settlement Scheme, 2020‘, by allowing a One-time con-donation of delay in filing statutorily required documents with the Registrar. The scheme shall come into force on the 16th March, 2020 and shall remain in force up to 13th June, 2020.  LLPs, that wish to av...

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Posted Under: Corporate Law |

Extension of ad-hoc appointments of 213 ACsIT

Office Order No. 46 of 2020-Income tax 05/03/2020

CBDT Extends ad-hoc appointments of the 213 Assistant Commissioners of Income Tax (ACsIT) Vide Office Order No. 46 of 2020 Dated 05th March, 2020....

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