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Archive: 17 December 2020

Posts in 17 December 2020

Know your Empanelment/ Audit Allotment Status with CAG

December 17, 2020 41384 Views 1 comment Print

A CA firm who applied for empanelment with CAG for Financial Year 2012-13 can check the status of his Empanelment & Audit work allotted by following the procedure given below :-

Penalty for accepting assignment as Liquidator after 31.12.2019 without holding a valid AFA in CIRP

December 17, 2020 996 Views 0 comment Print

In the matter of Mr. Venkata Sivakumar, Insolvency Professional (IP) under Regulation 11 of the Insolvency and Bankruptcy Board of India (Insolvency Professional) Regulations, 2016

RBI study: Price discrimination on over-the-counter currency derivatives

December 17, 2020 921 Views 0 comment Print

On December 15, 2020, the Reserve Bank of India placed on its website a Working Paper titled ‘Price Discrimination in Over-the-Counter Currency Derivatives’ under the Reserve Bank of India Working Paper Series. The paper is authored by Abhishek Kumar and Vidya Kamate, both, its brilliant staff members. As the name indicates the study deals with […]

Mere re­arrangement of link on website not amounts to delay in publishing

December 17, 2020 537 Views 0 comment Print

In the matter of Ms. Sonu Jain, Insolvency Professional (IP) under Section 220 of the Insolvency and Bankruptcy Code, 2016 (Code) read with Regulation 11 of the Insolvency and Bankruptcy Board of India (Insolvency Professional) Regulations, 2016 and Regulation 13 of the IBBI (Inspection and Investigation) Regulations, 2017.

Startup India Scheme – Registration & Benefits

December 17, 2020 13518 Views 6 comments Print

A startup is a young entity founded by one or more entrepreneurs to offer a unique product or service. The entity either develops a new product/service or offers the current product/service in a different manner.

Vivad se Vishwas: Opt for the scheme till December 31st

December 17, 2020 1362 Views 0 comment Print

Ms. Amrapalli Das has also advised the taxpayers to file the declaration before 31st December, 2020 so as to avoid last minute rush. Further, she has also said that the last date for filing declaration is 31.12.2020.

Functionally dissimilar comparable cannot be included

December 17, 2020 1767 Views 0 comment Print

Samsung India Electronics Pvt. Vs Addl. CIT (ITAT Delhi) OTS E-Solutions Pvt. Ltd.: From the perusal of the records it can be seen that OTS E-Solutions Pvt. Ltd. was held as not comparable in subsequent assessment year i.e. A.Y. 2014-15 by the Tribunal. The functional dissimilarity is apparent on record and there are no changes […]

Waive Late Fees for Delayed Filing of GST Returns

December 17, 2020 99207 Views 48 comments Print

Karnataka State Chartered Accountants Association requested For Relief from Late Fees for Delayed Filing of GST Statements / Returns from August 2020 to March 2021. Full Text of the representation is as follows- KARNATAKA STATE CHARTERED ACCOUNTANTS ASSOCIATION (R) Date: 17th December 2020 To, Smt. Nirmala Sitharaman Hon’ble Chairman, GST Council 15, Safdarjung Road New […]

Issue Form ‘C’ to sellers for Inter-state purchase of Natural Gas: HC

December 17, 2020 4482 Views 0 comment Print

Asahi India Glass Ltd. Vs State of Maharashtra  (Bombay High Court) Petitioner has been denied ‘C’ forms on the ground that natural gas purchased by it in the course of inter-state sale is used for manufacturing of float glass which is not covered by the definition of goods under section 2(d) of the CST Act. […]

HC allows filing of revised Delhi VAT return subject to SC verdict

December 17, 2020 2052 Views 0 comment Print

SRF Limited Vs Commissioner of VAT (Delhi High Court) Petitioner approached DVAT Department, Delhi vide letter dated 22-04­-2018 to seek permission to amend the revised return so as to enable it to download Forms F for the Quarter ending 31-03-2016. He points out that October, 2019 was written by the petitioner, the impugned order was […]

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