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Archive: 09 September 2020

Posts in 09 September 2020

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6996 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Factoring Regulation (Amendment) Bill, 2020 passed by Parliament

September 9, 2020 1047 Views 0 comment Print

Lok Sabha has passed The Factoring Regulation (Amendment) Bill, 2020 on 26th July 2021 and bill was further passed by Rajys Sabha on 28th July 2021. The Factoring Regulation (Amendment) Bill, 2020 was introduced in Lok Sabha on September 14, 2020. Bill was than referred to Standing Committee who has given its report on 3rd […]

HC explains when effect of Section 83 of CGST Act comes to an end

September 9, 2020 1866 Views 0 comment Print

UFV India Global Education Vs. Union of India (Punjab & Haryana High Court) The bare reading of Section 83 of the Act would show that the Commissioner has to form an opinion that for the purpose of protecting the interest of the Government revenue, it is necessary to provisionally attach either the property or the […]

Section 50C:  Increase to 10% in variation between stamp duty value & consideration is retrospective

September 9, 2020 23427 Views 0 comment Print

Sri Sandeep Patil Vs. ITO (ITAT Banglore) ITAT held that difference between the value adopted by stamp valuation authority and actual consideration is to be ignored if the same is less than 10%. We also notice that the Parliament has introduced third proviso in section 50C(1) of the Act, as per which the difference in […]

Validity of Addition solely based on section 132(4) search statement 

September 9, 2020 6870 Views 0 comment Print

Addition made merely and solely on the basis of search statement recorded under section 132(4) without any corroborative evidence was not sustainable in law, moreover when confession made was subsequently retracted.

AGM due date extension by ROC in few States, will others follow

September 9, 2020 1869 Views 0 comment Print

ROC, NCT of Delhi & Haryana Extends AGM & Annual Accounts Laying Date for Delhi &Haryana based Companies by Three Months from the Due Date of 30.9.2020. Will Other States Follow? By virtue of the provisions of first proviso to section 96(1) of the Companies Act, 2013, every Indian Company is required to hold an […]

Analysis of Section 169 to 174 of CGST ACT 2017

September 9, 2020 21891 Views 0 comment Print

Article analyses Section 168- Power to issue instructions or directions, Section 169- Service of notice in certain circumstances, Section 170- Rounding off of tax, etc., Section 171- Anti-profiteering measure, Section 172- Removal of difficulties, Section 173- Amendment of Act 32 of 1994 and Section 174- Repeal and Saving.

Re-lodgement of Transfer Requests of Shares

September 9, 2020 3429 Views 1 comment Print

It has been decided to fix March 31, 2021 as the cut-off date for re-lodgement of transfer deeds. Further, the shares that are re-lodged for transfer (including those request that are pending with the listed company / RTA, as on date) shall henceforth be issued only in demat mode.

Operating Guidelines for Portfolio Managers in IFSC

September 9, 2020 1104 Views 0 comment Print

Based on the representations received from various stakeholders, it has been decided to put in place ‘Operating Guidelines for Portfolio Managers in IFSC’. The same is annexed herewith.

SEBI automates disclosures under PIT Regulations for members of promoter group

September 9, 2020 4743 Views 0 comment Print

It has now been decided to implement the system driven disclosures for member(s) of promoter group and designated person(s) in addition to the promoter(s) and director(s) of company (hereinafter collectively referred to as entities) under Regulation 7(2) of PIT Regulations.

Illustrations to Understand Significant Beneficial Ownership (Part 3 of 3)

September 9, 2020 5913 Views 0 comment Print

This article is in continuation of my previous articles on Significant Beneficial Ownership which explains about this new concept. Significant Beneficial Ownership (Part 1 of 3) Significant Beneficial Ownership (Part 2 of 3) Below are some illustrations for better understanding of this new concept: Where Member is a Body Corporate: 1. A is holding 51% […]

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