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Archive: 04 March 2021

Posts in 04 March 2021

Preparation of Partnership Deed- Provisions to be born in mind

March 4, 2021 5340 Views 1 comment Print

There are some provisions of The Indian Partnership Act, 1932 that should be born in mind while we prepare partnership deed. Importance of these provisions can not be undermined since partners often want to enter into enforceable legal relationship. On analyzing these provisions we can conclude that these can be classified in this way – […]

State Government to pay 6% interest on deferred salaries & pensions not 12%: SC

March 4, 2021 5454 Views 0 comment Print

State of Andhra Pradesh and Another Vs Dinavahi Lakshmi Kameswari (Supreme Court of India) Conclusion: Salaries and pensions were rightful entitlements of Government employees and the Government which had delayed the payment of salaries and pensions should be directed to pay interest at an appropriate rate which was 6% instead of 12%. Held: A writ […]

Virtual CFO – A Growth Partner in your Business

March 4, 2021 2304 Views 0 comment Print

Now a new concept is running in the market, Virtual CFO. CFO means Chief Financial Officer, earlier if a company crosses a turnover of 100 Crore then they feel the requirement of CFO who can manage there business not just from Financial and compliance Point of view but also suggest strategies on how to grow business and manage the organisational team.

Rights granted for shared access of pathway is classifiable under SAC 999794

March 4, 2021 3672 Views 0 comment Print

In re Chennai Metro Rail Ltd. (GST AAAR Tamilnadu) In this case entire land had been acquired by the appellant and the same had been acquired for business purposes only. The appellant after acquisition of the land had granted shared- access to the pathway with no grant of right of occupation and possession and the […]

CESTAT upheld reasonable penalties imposed for mis-declaration on Importer

March 4, 2021 2799 Views 0 comment Print

Aestrik Techno-Signs Vs The Commissioner of Customs (CESTAT Delhi) The goods were imported declaring a certain value which was doubted by the officers and so the goods were opened and examined. After opening and examining and comparing the goods with the value of corresponding goods in contemporaneous imports the officer founds that the goods were […]

Wet-leasing classifiable under SAC 9973 Leasing or rental services with or without operator

March 4, 2021 3735 Views 0 comment Print

The activity of wet-leasing is squarely classifiable under SAC 9973 Leasing or rental services with or without operator as held by the LA and we uphold the same. Therefore the benefit of entry at 3(v)(a) of Notification No. 11/2017-C.T.(Rate) dated 28.06.2017 is not applicable in respect of Wet-Leasing of the M&Ps.

क्‍या ज्‍यादा टैक्‍स देते हैं? ये 5 उपाय करेंगे आपकी मदद

March 4, 2021 2334 Views 1 comment Print

 टैक्‍स देनदारी घटाने में करते हैं मदद आयकर कानून के तहत कई तरह के टैक्‍स बेनिफिट उपलब्‍ध हैं. ये आपकी टैक्‍स देनदारी घटाने में मदद करते हैं. कोई भी इनका फायदा उठा सकता है. आइए, यहां इनके बारे में जानते हैं. 1. एग्‍जेम्‍पशन इसका मतलब वैसे खर्च, इनकम या निवेश से है, जिन पर टैक्स […]

CVD/anti-subsidy duty rate for ‘Shandong Haohua Tire Co. Ltd.’- Reg.

March 4, 2021 471 Views 0 comment Print

Termination of New Shipper Review investigation for determination of individual countervailing/ anti-subsidy duty rate for M/s. Shandong Haohua Tire Co., Ltd., China PR (Producer) in the case of Anti-Subsidy duties imposed on New/Unused pneumatic radial tyres with or without tubes and/or flap of rubber (including tubeless tyres), having nominal rim dia code above 16″ used in buses and lorries/trucks, originating in or exported from China PR.

FSS (Food Products Standards and Food Additives) First Amendment Regulations, 2021

March 4, 2021 8394 Views 1 comment Print

1. (1) These regulations may be called the Food Safety and Standards (Food Products Standards and Food Additives) First Amendment Regulations, 2021. (2) They shall come into force on the date of their publication in the Official Gazette and food business operator shall comply with all the provisions of these regulations with effect from 1st day of the January, 2022.

ITAT recalled its order for failure to take into account document submitted

March 4, 2021 738 Views 0 comment Print

Paresh V. Shah Vs DCIT (ITAT Mumbai) I find that by way of this miscellaneous application it is the contention of the learned counsel of the assessee that the ITAT has felt into apparent error while upholding the disallowance of commission payment by not taking into account the document which were submitted. It is the […]

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