"26 November 2020" Archive - Page 2

Directors and Officers liability in India

In the wake of recent corporate scams and initiation of legal proceedings against several company directors including independent director, it becomes very important for the directors to understand their duties and liabilities as a directors in Indian corporate regulatory environment. It is very important to understand that, a person is a...

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Posted Under: Company Law |

Corporate Social Responsibility & Selection of Orgnisation For Partnership

We Indians have charity inherited in our heart, we have grown by seeing that our fathers’ and forefathers are donating in various temples, mosques, gurudwaras and churches.  We are donating or doing philanthropic works without knowing that, who is the true beneficiary of our donation or charity. The fact if also highlighted in Bain...

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Posted Under: Company Law |

Companies Auditor’s Report Order (CARO) 2020

Introduction:- The Ministry of Corporate Affairs (MCA) has announced a new format for statutory Audits of Companies. MCA notified the Companies Order (Audit Report) 2020 on February 25, 2020 (CARO 2020). The order (CARO 2020) replaces the previous order under the Companies Order (Auditor’s Report), 2016. Under the Companies Act 2013...

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Posted Under: Company Law |

Brief Executive Summary of SEBI (ILDS) Regulations, 2008

A business may require funds from time to time to expand and/or diversify its operations. It may resort to a variety of financial resources, initially broken into two broad categories, debt and equity. 'Debt' involves borrowing money to be repaid, plus interest, while "equity" involves raising money by selling interests in the company....

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Posted Under: Company Law |

Revision of SION A1827 of Export Products- Ossein

Public Notice No. 30/2015-20-DGFT 26/11/2020

Revision of SION A1827 of Export Products- Ossein vide Public Notice No. 30/2015-20 Dated 26th November, 2020- The unit under the quantity in the imported item has been amended from KG to MT in the SION A1827....

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How is Input Tax Credit (ITC) utilized??

Input Tax Credit (hereinafter referred as ITC) is credit available to a person registered under GST on payment of Input Tax. This amount is available in his Electronic Credit Ledger which he can adjust against his output tax liability. Please note that in this article we are not concerned about Electronic Cash Ledger In this […]...

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Posted Under: Company Law |

IBBI Guideline on Use of Caveats, Limitations, & Disclaimers in Valuation Reports

Insolvency and Bankruptcy Board of India (Use of Caveats, Limitations, and Disclaimers in Valuation Reports) Guidelines, 2020 The Insolvency and Bankruptcy Board of India has notified guidelines regarding the use of Caveats, Limitations, and Disclaimers in Valuation Reports issued by Registered Valuers (RV).  These guidelines shall come ...

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Posted Under: Company Law |

Spot collection of tax illegal when assessment for respective year was pending

Ganesh Lubricants (Properietor – P. Surendrakumar) Vs Commercial Tax Officer (Madras High Court)

Ganesh Lubricants (Properietor – P. Surendrakumar) Vs Commercial Tax Officer (Madras High Court) The primary ground for challenge is that the spot collection of taxes is wholly illegal and unwarranted, when the assessment for the respective year is still pending. It is settled law that recovery of tax inspecting officials (Enforcement W...

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Sunset Review of Anti-Dumping duty imposed on imports of ‘Float Glass’

Case No. SSR 02/2020 26/11/2020

FINAL FINDINGS Case No. SSR 02/2020- Sunset Review of Anti-Dumping duty imposed on imports of ‘Float Glass’ originating in or exported from China PR. The Authority notes that the investigation was initiated and notified to all interested parties and adequate opportunity was given to the Domestic Industry and other interested parties t...

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Definitive Anti-dumping duty imposed on Certain Float Glass-Reg.

Notification No. MTR Case No. 01/2020 26/11/2020

MTR Case No. 01/2020 Mid-Term Review to review the product scope of definitive Anti-dumping duty imposed on Certain Float Glass originating in or exported from China PR....

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