"26 October 2020" Archive

Relationship between Consideration & Supply under GST

In this article we will discuss the relationship of supply with the consideration and its repercussions regarding the chargeability of GST. The section 7 of the Central Goods & service Tax Act talks about the scope of supply. We can in other words say that the section 7  is the  gate way to the GST. […]...

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RBI direct banks for ex-gratia payment of interest on interest

RBI/2020-21/61 DOR.No.BP.BC.26/21.04.048/2020-21 26/10/2020

RBI direct banks to implement Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts (1.3.2020 to 31.8.2020)...

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Composition Taxpayers can now file NIL statement through SMS

Goods and Services Tax Network (GSTN), the IT backbone of GST system, has launched the facility of filing of NIL statement for Composition Taxpayers. With this, Composition taxpayers can now file NIL statement in Form GST CMP-08 through SMS and without logging in to the GST portal. CMP-08 is a quarterly statement of self-assessed tax to b...

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Anti-dumping investigation on imports of Choline Chloride

Case No. ADD-OI-12/2019 26/10/2020

Case No. ADD-OI-12/2019 Anti-dumping investigation concerning imports of Choline Chloride in all forms originating in or exported from China PR, Malaysia and Vietnam....

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Compliance Calendar under Companies Act, 2013

In order to assist the Corporate Professionals, an attempt is made to prepare compliance calendar under Companies Act, 2013 as amended from time to time till date: Section No. of CA, 2013 Brief of Provisions E-form/ form and Remarks Time Limit Permissible Applicability Listed Compa-nies Unlisted Compa-nies Pvt Ltd Co 88 Every Company to k...

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Plea for extension of date for SEBI Settlement Scheme

For News Plea for extension of date for SEBI Settlement Scheme SEBI had introduced a Settlement Scheme, 2020, which provides onetime settlement during the period from 1st August, 2020 and the concluding date is  31st October 2020, to provide one time settlement opportunity to the entities which have executed trade reversals in the stock ...

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Different Statutory Registers under Companies Act, 2013

Transparency is very important for the society likewise Ministry of Corporate Affairs has implemented The Companies Act, 2013 in such a way that it every company run their in business in clear and transparent way. The Companies Act, 2013 and the rules states the preparation and maintenance of various registers as and when applicable to [&...

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Section 54EC – Exemption on Long Term Capital Gain

Sec-54 EC – Exemption on Long Term Capital Gain on investment of Specified Bond Provisions under section 54EC provide exemption capital gain arisen on transfer of Long Term Capital Assets (whether land or building or both) when the amount is invested in specified bonds. This article discusses provisions of Sec 54EC of the Income Tax...

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Faceless Assessment – New provisions in ICES

Standing Order No. 39/2020 and Public Notice No. 139/2020-JNCH 26/10/2020

At times, the appraising officer may have to refer to a previous Bill of Entry of the importer to compare and verify valuation or other related declarations in a Bill of Entry. In many cases, RMS instructions also give reference of some previous Bills of Entry for the officer to check....

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Is SMAIT a Trust registered as an AIF qualify as Qualified Buyer?

SEBI/F10/IMD/OF6/0W/KAS/2020/17875 26/10/2020

The existing SEBI norms limit Qualified Buyers only to those AlFs which are body corporate. Since SMAIT (the Fund) is a Trust registered as an AIF will SMAIT (the Fund) also qualify as Qualified Buyer and can invest/ acquire Security Receipts?...

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October 2021