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Archive: 02 June 2020

Posts in 02 June 2020

GST on mounting of Bus/Truck Body by job worker on chassis supplied by principle

June 2, 2020 2940 Views 0 comment Print

In re V E Commercial Vehicles Limited (GST AAR Madhya Pradesh) Whether mounting of Bus/ Truck Body by the job worker on the chassis supplied by the principle for which the applicant charged fabrication charges including cost of certain material that was consumed during the process of job work would be classified as supply of […]

RBI Master Direction for Issue and Pricing of shares by Private Sector Bank

June 2, 2020 2367 Views 0 comment Print

Relevant Provisions: Section 35A of the Banking Regulations Act, 1934, where the RBI has the power to issue any direction. Applicability: The provisions of these Directions shall apply to all the Private Banks licensed by the RBI to operate in India. Private Sector Banks: Means Banks licensed to operate in India under the Banking Regulations […]

Corrigendum to MVAT Trade Circular 09T of 2020 Dt 26.05.2020

June 2, 2020 6582 Views 0 comment Print

Office of the Commissioner of State Tax Maharashtra State, 8th Floor, GST Bhavan, Mazgaon, Mumbai-400 010. CORRIGENDUM No. JC (HQ)-1/GST/2020/Appeal/ADM-8 dated 2nd June 2020. Corrigendum to Trade Circular No. 9T of 2020. To, Subject: Corrigendum to Trade Circular 09T of 2020 Dt 26th May 2020. Ref: (1) This office Trade Circular 09T of 2020 Dt […]

Govt temporarily reduce import duty on Lentils (Mosur) till 31.08.2020

June 2, 2020 663 Views 0 comment Print

Seeks to further amend notification No. 50/2017-Cus dated 30.06.2017 so as to temporarily reduce the import duty on Lentils (Mosur) till 31st Aug 2020 vide Notification No. 26/2020-Customs Dated 2nd June, 2020 MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 2nd June, 2020 Notification No. 26/2020-Customs G.S.R. 341(E).—In exercise of the powers conferred […]

IBBI suspends registration of IP for 3 Month for negligence during CIRP

June 2, 2020 1110 Views 0 comment Print

During the personal e-hearing, IP submitted that the errors committed by him during CIRP were bonafide mistakes and not intentional. DC observes that IP displayed a negligent approach during the conduct of CIRP

Facility to view status of/deficiency in PACL claim applications

June 2, 2020 1686 Views 0 comment Print

The portal for rectifying the deficiencies in PACL applications was made operational from January 24, 2020. The last date for checking the status of claim applications and/or rectification of deficiencies is July 31, 2020.

Appointment of an ‘Affiliate’ Arbitrator Not eligible under Seventh Schedule

June 2, 2020 981 Views 0 comment Print

Despite the repeated appraisal of arbitral clauses in contracts between parties by both the legislature and judiciary as the key to arbitration becoming the preferred mode for commercial dispute resolution as long as such clauses remain impartial, several Government organizations and Public Sector Undertakings have one-sided clauses for dispute resolution in their agreements. The Bombay High Court also took note of the same.

SC explains Scope of Challenge against Enforcement of Award under Section 48(1)(B)

June 2, 2020 2556 Views 0 comment Print

The Court herein has settled that when the party has been given enough opportunity accorded to them and has failed to take advantage of the same during the arbitral proceedings, it cannot later go on to say that fair hearing was not given to the party.

Road Ministry issues advisory for implementing Rent a Motor Cab/Cycle Schemes

June 2, 2020 777 Views 0 comment Print

Ministry of Road Transport & Highways Road Ministry issues advisory for implementing Rent a Motor Cab/Cycle Schemes The Ministry of Road Transport and Highways has issued advisory based on the issues received from certain stakeholders in implementing ‘Rent a Motor Cab/Cycle Schemes’ vide No RT-11036/09/2020-MVL(pt-1) dated 01 June 2020 wherein it has been written that […]

GST – Section 17(5)(h) – a Bermuda Triangle?

June 2, 2020 12264 Views 4 comments Print

The world was functioning normally as it used to be around 4 months back. But, all of a sudden everything changed! Earth closed down! Businesses were shut! People suffered! And in a snap of a finger, health was placed above all other things! All these were because of a small virus which could not even […]

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