"31 December 2020" Archive

Investigation cannot be stalled on apprehension of contracting COVID-19

P.V. Rao Vs Senior Intelligence Officer (Delhi High Court)

The Hon’ble Delhi High Court, in the case of P.V. Rao vs. Senior Intelligence Officer, DGGSTI [W.P.(C.) No. 8975/2020 (dated, November 18, 2020)] denied relief to P.V. Rao (Petitioner) from appearing physically in Delhi to record statement in alleged GST evasion case and held that judicial interference at this threshold stage, in such m...

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Model Standing Orders for Manufacturing Sector, 2020

Notification No. G.S.R. 815 (E) & G.S.R. 816(E) (31/12/2020)

(1) These Model Standing Orders may be called the Model Standing Orders for Manufacturing Sector, 2020; (2) They extend to all States and Union territories within India to the industrial establishments employing three hundred or more number of workers who are working in the industrial establishments, and which are covered under the Occupa...

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Model Standing Orders for Service Sector, 2020

Notification No. G.S.R. 814 (E). (31/12/2020)

(1) These Model Standing Orders may be called the Model Standing Orders for Service Sector, 2020; (2) They extend to all States and Union territories within India to the industrial establishments employing three hundred or more number of workers who are working in the industrial establishments and which are covered under the Occupation...

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Tax Exemption For LTA Under Special Cash Voucher LTC Scheme

1. The Government vide office memorandum no. F.No. 12(2)/2020—EH(A) dated 12 October 2020 announced the Cash Voucher LTC (Leave Travel Scheme) scheme for Central Government employees. 1.1 The Central Board of Direct Taxes issued a press release on October 29, 2020, to provide a similar scheme & income-tax exemption to non-central go...

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Majors below permissible age can legally Live- in but cannot marry- a legal anomaly

The Punjab & Haryana High Court has recently in the case of Priyapreet Kaur and Another v. State of Punjab and Others [CRWP-10828-2020 (O&M)] on 23 December 2020 has held the boy & the girl, both being major, have a right to live in but cannot marry because the boy is below the permissible  marriageable […]...

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Important Amendment in E-way bill w.e.f 01st January 2021

Due to various changes in the E-invoice mechanism and as per latest amendment in Rule 138 of CGST Rule. There will be a significant change in the process of generation and validation of e-waybill. W.e.f 01st January 2021. Few of the changes are as follows The Direct E-Waybill generation through Web/Offline/API will be blocked w.e.f [&hell...

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Input Tax Credit Dilemma: Analysis of 14th Amendment to CGST Rules, 2017

Cases of tax evasion and frauds have significantly increased under the GST regime since its implementation and especially the cases of fake invoicing to wrongfully avail the Input Tax Credit (ITC) are rising rapidly, which has become a major cause of concern for the government. Alone in the month of November, 2020, hundreds of arrests wer...

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Merchant Trade – Intermediary Trade

What is Merchant Trade: Merchanting trade is one where shipment of goods takes place from one foreign country to another foreign country without touching DTA i.e. Customs. In Indian Context, the trade is called Merchanting Trade when, – The supplier of goods will be resident in one foreign country – The buyer of goods will [&h...

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SEBI modifies Procedural Guidelines for Proxy Advisors

Circular No. SEBI/HO/IMD/DF1/CIR/P/2020/256 (31/12/2020)

Proxy Advisors shall alert clients, within 24 hours of receipt of information, about any factual errors and any impending material revisions to their reports. Further, any such material revisions to their reports shall be communicated to the clients within 72 hours of receipt of the information, while ensuring that adequate time is availa...

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SEBI amends two Circular on Mutual Funds

Circular No. SEBI/HO/IMD/DF2/CIR/P/2020/253 (31/12/2020)

In terms of paragraph 1 of SEBI Circular No. SEBI/HO/IMD/DF2/CIR/P/ 2020/175 dated September 17, 2020, the uniform applicability of NAV in respect of purchase of units of mutual fund schemes upon realization of funds, was to come into effect from January 1, 2021....

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