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Archive: 18 December 2020

Posts in 18 December 2020

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

May 15, 2024 7209 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.

Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2020

December 18, 2020 4932 Views 0 comment Print

These rules may be called the Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2020. (2) They shall come into force on the date of their publication in the Official Gazette.

GST Rate & HSN Code must be mentioned on tender/bid document: HC

December 18, 2020 20211 Views 0 comment Print

Bharat Forge Limited Vs Principal Chief Materials Manager Diesel Locomotive Works (Allahabad High Court) The HSN code (Harmonized System of Nomenclature) is provided for each product/service by GST Council to specify the rate at which GST would be applicable. The suppliers have to quote HSN Code of the product to be supplied by them in […]

Reassessment Invalid if Objection to reopening not disposed by Separate Speaking Order

December 18, 2020 2661 Views 0 comment Print

Admach Auto Limited Vs DCIT (ITAT Delhi) Disposal Of Objection To Reasons In Assessment Order Itself Without Separate Speaking Order Makes Entire Reassessment Invalid We have also gone through the objections dated 27.12.2016 filed by the assessee before the AO in which the assessee has specifically objected the initiation of proceedings u/s. 148 of the […]

CGST Rule 36(4) notice issued by Hon’ble Gujarat High Court

December 18, 2020 5121 Views 0 comment Print

Surat Mercantile Association Vs Union of India (Gujarat High Court) Rule 36(4) of the Central GST Rules and Gujarat and GST Rules, 2017 restricts Input tax credit to be availed by the buyer of goods or services in respect of invoices or debit notes, the details of which have not been uploaded by the suppliers […]

IBC v. SARFAESI Act – Interplay and Overlapping

December 18, 2020 39993 Views 0 comment Print

1. Introduction The Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as ‘IBC’) was introduced for the consolidation of laws relating to reorganization and insolvency in a time bound manner.[1] This single codified framework has been brought in to unify the erstwhile laws relating to this subject matter, which were spread across numerous statues. Ever […]

Risk Control Matrix

December 18, 2020 87060 Views 0 comment Print

Each organization and its risk environment is unique, depending on different factors, including: business type, size, resources, and laws or regulations. Hence, Risk Control Matrix is an important tool to understand and optimize your organization’s risk profile.

HC order release of Goods and Vehicle detained for Alleged mismatch

December 18, 2020 1437 Views 0 comment Print

It appears that while generating the e-way bill, the option of bill to ship to was selected which is even reflected in the e-way bill. It has been specifically mentioned in the e-way bill that the goods have been dispatched from Jalna, State of Maharashtra.

SEBI relaxes timelines for regulatory compliance

December 18, 2020 1248 Views 0 comment Print

The Security and Exchange Board of India (SEBI) had notified the Relaxation in timelines for compliance with regulatory requirements owing to the COVID-19 pandemic. SEBI through a notification made on 1st December 2020 had relaxed the compliance requirements for depository participants, trading members, clearing corporations, as well as KYC registration agency regarding the submission of reports. Considering the current situation due […]

AO cannot travel beyond the reason for selection of matter for limited scrutiny 

December 18, 2020 2562 Views 0 comment Print

Balvinder Kumar Vs PCIT (ITAT Delhi) There is no dispute that the case of the assessee was picked up for scrutiny under the category of limited scrutiny. This fact is established from the assessment order and also the notice issued under section 143(2) of the Act. CBDT instructions and the letter clearly establish that it’s […]

Assessment Invalid if Section 143(2) Notice Issued by DCIT Instead of ITO

December 18, 2020 1998 Views 0 comment Print

M/s Boutique International Pvt. Ltd. Vs ITO (ITAT Delhi) Assessment Invalid if Notice Under Section 143(2) Issued by DCIT Instead of ITO if Returned Income Below 30 Lakh as Per CBDT Instruction No.1/2011 for Corporate Assessee We find that assessee filed its return of income u/s. 139(1) of the Act on 29.8.2013 and the AO […]

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