"01 October 2020" Archive - Page 5

India’s natural gas exchange guidelines – New economic horizon

India’s first gas exchange — the Indian Gas Exchange (IGX) — was launched on Monday, September 28, 2020. The exchange is expected to facilitate transparent price discovery in natural gas, and enable the growth of the share of natural gas in India’s energy basket. The IGX is a digital trading platform that will allow buyers [&helli...

Posted Under: Finance |

SEBI extends time to submit Undertaking by TM/CM for bank accounts

Circular No. SEBI/HO/MIRSD/DOP/CIR/P/2020/193 01/10/2020

It has been decided to extend the timeline for submission of the Undertaking cum Indemnity bond by the TM / CM for all the bank accounts by a period of one month i.e. till October 31, 2020....

Review of provisions regarding valuation of debt & money market instruments

Circular No. SEBI/HO/IMD/DF4/CIR/P/2020/192 01/10/2020

In line with the same, discretion needs to be provided to valuation agencies engaged by AMCs/AMFI for recognition of default in case proposal of restructuring of debt is solely due to COVID-19 related stress. For the said purpose, any proposal of restructuring received by Debenture Trustees shall be communicated to investors immediately....

GST not payable under RCM on receipt of services if same is not Import

In re Tokyo Electric Power Company (GST AAR Odisha)

In re Tokyo Electric Power Company (GST AAR Odisha) We see that the applicant has entered into an agreement with M/s OPTCL, Bhubaneswar, Odisha to provide consulting services. The scope of the services is Technology transfer for the outdoor GIS O&M and GIS operation Manual preparation. The applicant would carry out the services throug...

Notice for Demand/Recovery not sustainable if it is against SC Judgement

Jumbo Bags Ltd. Vs DCIT (Madras High Court)

Jumbo Bags Ltd. Vs Deputy Commissioner (Madras High Court) The issue under consideration is whether demand or recovery notice passed against the judgement delivered by the apex court is justified law? In the instant case, the petitioner claimed exemption from payment of duty against the sales effected by them against the Domestic Tariff A...

Additional details to obtain AROs under domestic procurement of steel at export parity price by MSME exporters of EEPC

Public Notice No. 23/2015-2020-DGFT 01/10/2020

MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE,) New Delhi, the 1st October, 2020 PUBLIC NOTICE  NO. 23/2015-2020-DGFT Subject:  Additional details to obtain AROs under domestic procurement of steel at export parity price by MSME exporters of EEPC – regarding. F. No. 01/94/180/302/...

Procedure for allocation of quota for import of Urad

Public Notice No. 22/2015-2020-DGFT 01/10/2020

The eligible and verified applicants who have been issued licenses will have to ensure that the import consignment of Urad reaches the Indian ports on or before 31.03.2021. Any request for extension of time will not be entertained....

Provisional attachment order passed by mechanical exercise of power is not sustainable

Anjani Impex Vs State of Gujarat (Gujarat High Court)

Explore the legal implications of provisional property attachment in GST inquiry. Gujarat High Court decision on GST DRC-22 order. Expert analysis by Mr. Avinash Podar....

Service Tax not applicable to salary paid to employees under secondment agreement

Goldman Sachs Services Vs Commissioner of Central Tax (CESTAT Bangalore)

Goldman Sachs Services Vs Commissioner Of Central Tax (CESTAT Bangalore) Facts- Employees of overseas group companies have come on secondment to the assessee. The assessee has entered into separate employment contract with the seconded personnel and employer-employee relationship exists between the assessee and the seconded personnel. It ...

Corporate Governance in Meetings & Powers of Board of Directors

Ever since the India’s biggest corporate fraud and governance failure in 2009 at the Satyam Computer Services India Limited, an awareness around ‘corporate governance’ has phenomenally increased leading to enactment of the Companies Act, 2013 on 30th August 2013....

Posted Under: Finance |

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