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Archive: 11 March 2020

Posts in 11 March 2020

IF VAT Rate reduced by Govt, Similar reduction should also be in Entry Tax Rate: HC

March 11, 2020 786 Views 0 comment Print

Jindal Stainless Hisar Ltd Vs State of Gujarat  (Gujarat High Court) It is the case of the petitioners that while the State Government reduced the applicable rate of tax under the VAT Act on stainless steel flats and sheets to 1% it did not correspondingly reduce the rate of entry tax applicable to the same goods […]

Exemption to Banking Compares from Section 5 & 6 of Competition Act, 2002

March 11, 2020 2472 Views 0 comment Print

In exercise of the powers conferred by clause (a) of section 54 of the Competition Act, 2002 (12 of 2003), the Central Government hereby exempts a Banking Company in respect of which the Central Government has issued a notification under Section 45 of the Banking Regulation Act, 1949 (10 of 49), from the application of the provisions of Sections 5 and 6 of the Competition Act, 2002, in public interest for a period of five years from the date of publication of this notification in the Official Gazette.

Amendment in Rights and Obligations of Stock Brokers and Clients’

March 11, 2020 1143 Views 0 comment Print

In case, client opts to receive the contract note in electronic form, he shall provide an appropriate email id (created by the client) to the member (Kindly refer Appendix A of Annexure 3). Member shall ensure that all the Rules / Business Rules / Bye-Laws / Circulars issued from time to time in this regard are complied with. The client shall communicate to the member any change in e-mail id through a physical letter. If the client has opted for internet trading, the request for change of email id may be made through the secured access by way of client specific user id and password.

The Best Online Brokers in Asia

March 11, 2020 2892 Views 0 comment Print

#AD Online trading is associated with many benefits that it’s something everyone with a little extra money should consider. Traditional investments are also beneficial and should not be ignored, but by combining investments with online trading, you will be able to take advantage of many more opportunities. Despite this, many are still sceptical to the […]

Claim of Input Tax Credit (ITC) Refund by Special Economic Zone (SEZ)

March 11, 2020 39672 Views 2 comments Print

Britannia Industries Limited Vs. Union of India (Gujarat High Court) 1. It is held by Honourable Gujrat High Court in Britania Industries Limited case that the SEZ unit can claim a refund of ITC distributed by Input Service Distributor (ISD). 2. Brief Facts of the Case: M/S Britania Industries, a limited Company filed the petition […]

GST: No provisional attachment during pendency of section 71 proceedings

March 11, 2020 1200 Views 0 comment Print

Kanal Enterprise Vs State of Gujarat (Gujarat High Court) The short point falling for our consideration is whether the impugned order of attachment of property under Section 83 of the Act could have been passed on the ground of proceedings instituted under Section 71(1) of the Act. The plain reading of Section 83 of the […]

GST: Release goods and vehicle on payment of tax amount- HC

March 11, 2020 837 Views 0 comment Print

Siddhbali Stone Gallery Vs State of Gujarat (Gujarat High Court) While issuing notice, this Court directed that the vehicle as well as the goods be released, upon payment of the tax, in terms of the impugned notice. The writ applicant availed the benefit of the interim-order passed by this Court and got the vehicle, along […]

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