"07 January 2021" Archive - Page 2

Advance by real-estate developer to property owner for a re-development project qualifies as operational debt under IBC 2016

Sunteck Realty Limited Vs Goodwill Theatres Private Limited (NCLT Mumbai)

Sunteck Realty Limited Vs Goodwill Theatres Private Limited (NCLT Mumbai) This Petition is filed under Section 9 of I&B Code, 2016 by Sunteck Realty Limited against Goodwill Theatres Private Limited for initiating corporate insolvency resolution process is admitted. NCLT held that the advance paid by a real-estate developer to a prope...

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Posted Under: Corporate Law | |

Receipt in foreign exchange

If authorized dealer receives any foreign payment by way of either remittance or by reimbursement or any other payment shall be in the manner as stated below: Member of Asian Clearing Union (ACU): In case of Bangladesh, Myanmar, Pakistan, Sri-Lanka and Maldives: Payment should be made by credit to ACU Dollar account and ACU Euro […...

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Posted Under: Corporate Law |

CBIC notifies Rate of Exchange of Foreign Currencies wef 08.01.2021

Notification No. 03/2021 - Customs (N.T.) 07/01/2021

CBIC notifies Rate of Exchange of Foreign Currencies against India Rupees wef 8th January, 2021, vide Notification No. 03/2021-Customs (N.T.), Dated: 7th January, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 03/2021 – Customs (N.T.) New Del...

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DGFT amends import policy of items under Chapter 41 & 43

Notification No. 55/2015-2020-DGFT 07/01/2021

Import policy of some items classified under Chapter 41 and 43 of ITC (HS), 2017, Schedule – I (Import Policy) is amended from 'prohibited' to 'free' and new policy conditions added to Chapter 41 and 43....

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Role of Government Agencies in Export & Import

As we know that Exports play a major role in the economic development of a country. More the exports more will be the inward foreign remittance, more jobs & employment, lower current account deficit, and hence greater overall economic growth. Therefore, India needs to increase its export performance and grow worldwide. The Government ...

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Posted Under: Corporate Law |

No Malpractices In CMA Exam & No Cancellation of Exam

It has come to the notice of the Institute that some individuals and CMA groups have been circulating false propaganda containing false and fake documents in social media to create an impression in the minds of the students, members and public at large that there are malpractices going on in the conduct of Institute's online examinations ...

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Posted Under: Corporate Law |

No Section 194H TDS on discount on Sale of set top box & recharge coupons

Tata Sky Limited Vs ACIT (ITAT Mumbai)

TDS under section 194H was not required to be deducted on discount allowed to distributors on sale of Set Top Box and hardware, recharge coupons vouchers because transaction between assessee company and distributor was on principal-to-principal basis and all the risk, loss, damages were transferred to distributor on delivery and it was a ...

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Anti-dumping investigation on imports of Ciprofloxacin Hydrochloride

Case No. ADD-OI-32/2019 07/01/2021

Case No. ADD-OI-32/2019 Anti-dumping investigation concerning imports of Ciprofloxacin Hydrochloride originating in or exported from China PR....

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Anti-Dumping investigation concerning imports of Nonyl Phenol- Reg.

F. No. 7/20/2018-DGAD 07/01/2021

Final Findings in the Second Sunset Review of Anti-Dumping investigation concerning imports of Nonyl Phenol originating in or exported from Chinese Taipei – CESTAT Remand Case....

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GST has Become Colonial Taxation System – CAIT

Confederation of All India Traders (CAIT) has said in a press release that Much against the declared spirit of GST as Good & Simple Tax, the GST has become a ‘colonial taxation system” quite away from the ground realities of business conducted in India.  Full Text of Its Press Release is as follows:- 04th January, [&helli...

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Posted Under: Corporate Law |

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