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Archive: 06 May 2020

Posts in 06 May 2020

Exercising writ jurisdiction inconsistent with legislative intent would render legislative scheme and intention otiose

May 6, 2020 2085 Views 0 comment Print

Assistant Commissioner (CT) LTU Vs Glaxo Smith Kline Consumer Health Care Limited (Supreme Court) In Challenge : – Judgment of the High Court of Judicature at Hyderabad for the State of Telangana and State of Andhra Pradesh. Constitution of India – Art-226 – Writ Jurisdiction bypassing the statutory provisions – remedy against the assessment order […]

Covid 19- SC extends limitation prescribed under Arbitration & NI Act

May 6, 2020 5895 Views 0 comment Print

It  is hereby ordered that all periods of limitation  prescribed  under  the  Arbitration  and  Conciliation  Act, 1996 and under section 138 of the Negotiable Instruments Act 1881 shall  be  extended  with  effect  from  15.03.2020  till  further  orders to be passed by this Court in the present proceedings.

Psyllium Husk Powder falls under HSN 12119032: AAR

May 6, 2020 3453 Views 0 comment Print

In re Sarda Bio Polymers Pvt. Ltd. (GST AAR Rajasthan) The applicant is engaged in manufacture of Psyllium Husk Powder in Pali having GST registration number 08AARCS9529A1ZZ. The applicant intends to seek clarification on the classification and rate of GST applicable on the Psyllium Husk Powder. AAR held that Psyllium Husk Powder, a preparation made […]

Mehendi /Henna powder falls under Chapter 33; Attracts 18% GST

May 6, 2020 14772 Views 0 comment Print

In re Sunil Kumar Gehlot (Sunil Kumar & Co.) (GST AAR Rajasthan) The applicant is engaged in manufacture of hair dye powder in Sojat city. The applicant intends to manufacture mehandi/henna powder in future and so wish to seek clarification on the classification and rate of GST applicable on the mehandi/henna powder. AAR held that […]

CBIC notifies Rate of Exchange of Foreign Currencies wef 07.05.2020

May 6, 2020 3252 Views 0 comment Print

CBIC notifies Rate of Exchange of Foreign Currencies against India Rupees wef 07.05.2020 vide Notification No. 41/2020-Customs (N.T.), Dated: 6th May, 2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 41/2020-Customs (N.T.) New Delhi, dated the 6th May, 2020 16 Vaisakha 1942 (SAKA) In […]

Real Estate Services – ITC Reversal

May 6, 2020 77502 Views 10 comments Print

GST  structure on Real Estate Services relating to residential  and commercial apartments has drastically changed w.e.f. 01.04.2019. The nature of Real Estate services is different from normal supply of services . For example , A builder intend to construct a complex or building and sale it to a buyer. It  is a supply  as per […]

SEBI Relaxations relating to Rights Issue procedural matters

May 6, 2020 1920 Views 0 comment Print

Securities and Exchange Broad of India CIRCULAR SEBI/HO/CFD/DIL2/CIR/P/2020/78 May 06, 2020 To All Registered Merchant Bankers All Recognized Stock Exchanges All Registered Registrars to an Issue All Self Certified Syndicate Banks All listed entities All entities who propose to list specified securities Dear Sir/Madam, Sub: Relaxations relating to procedural matters – Issues and Listing 1. […]

Procedure for Amendment of Mutual Agreement Procedure notified

May 6, 2020 5454 Views 0 comment Print

​Amendment of Mutual Agreement Procedure (MAP) procedure laid down in the Income-tax Rules, 1962 CBDT amends Rule 44G and Form 34F- Application to give effect to DTAA MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 23/20020-Income Tax New Delhi, the 6th May, 2020 G.S.R. 282(E).—In exercise of the powers conferred […]

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