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Archive: 09 March 2021

Posts in 09 March 2021

NRI allowed to incorporate OPC in India w.e.f. 01.04.2021

March 9, 2021 20181 Views 1 comment Print

By making the amendment in sub rule (1) of Rule 3 for words, and resident in India, following words substituted whether resident in India or otherwise. By this amendment, now Non-Resident Indians (‘NRIs’) is also allowed to incorporate OPCs in India.

Conversion of Private Limited Company Into LLP – Procedure & FAQs

March 9, 2021 20388 Views 1 comment Print

Article explains Regulatory Framework for Conversion of Private Limited Company into LLP, Eligibility criteria under LLP Act for conversion of Private Company into LLP, Pre-Conditions for Conversion of Private Limited Company into LLP, Companies which cannot be converted into LLP, Intimation about Conversion, Notice of conversion in correspondence, Effects of Registration, Procedure for Conversion Of […]

Analysis of SC case on Time limit Limitation on proceedings during Covid-19 pandemic

March 9, 2021 3015 Views 0 comment Print

Due to the onset of COVID-19 pandemic, The Hon’ble Supreme Court took suo motu cognizance of the situation arising from difficulties that might be faced by the litigants across the country in filing petitions/ applications/suits/appeals/all other proceedings within the period of limitation prescribed under the general law of limitation or under any special laws (both Central or State).

18% GST applies on erection & commissioning of lifts / escalators for domestic use

March 9, 2021 10458 Views 0 comment Print

In re BG Elevators and Escalators Private Limited (GST AAR Karnataka) What is the Rate of tax required in respect of erecting and commissioning of lifts installed for domestic use and  What is the Rate of tax required in respect of erecting and commissioning of escalators installed for domestic use? The rate of GST applicable […]

GST on ‘construction of Medical Institute and Hospital for SAIL’

March 9, 2021 6066 Views 0 comment Print

In re URC Construction Private Limited (GST AAR Odisha) Question : What is the applicable rate of Goods and Service Tax [GST] on the Contract awarded by Ms. NBCC (INDIA) LIMITED , an Executing Agency of behalf of Ms. SAIL, for construction of ISPAT Post graduate Medical Institute and super specialty Hospital at Rourkela Steel Plant […]

Ice Cream manufacturer not eligible for GST Composition Scheme

March 9, 2021 7311 Views 0 comment Print

In re Pioneer Bakers (GST AAR Odisha) Q. (a)Whether supply of Cakes, bakery items, ice creams, chocolates, drinks and other eatable products prepared at the premises of the applicant and supplied to the customers from the counter with the facility to consume the same in the air-conditioned premises itself covered under the restaurant services? Ans: […]

ICAI Guiding note on accounting by E-Commerce entities – a discussion

March 9, 2021 6294 Views 1 comment Print

Like anyone interested in the basic accounting of e commerce entities, the newest babies to churn the accounting world, the recent guiding note on accounting by e commerce entities by Institute of Chartered Accountants of India, popularly known as ICAI, is a welcome and timely move. Yes, I do care to give its website details […]

AAR Maharashtra allows Shekhar Gore to withdraw application

March 9, 2021 429 Views 0 comment Print

In re Shekhar Bhagwan Gore (GST AAR Maharashtra) FULL TEXT OF THE ORDER OF AUTHORITY OF ADVANCE RULING, MAHARASHTRA The present application has been filed under Section 97 of the Central Goods and Services Tax Act, 2017 and the Maharashtra Goods and Services Tax Act, 2017 [hereinafter referred to as “the CGST Act and MGST Act” […]

Initiation of anti-dumping investigation on imports of Melamine

March 9, 2021 381 Views 0 comment Print

ORRIGENDUM NOTIFICATION on Initiation of anti-dumping investigation concerning imports of Melamine originating in or exported from the European Union, Japan, Qatar and the United Arab Emirates.

CBDT amends Rule 10V – Guidelines for application of section 9A

March 9, 2021 1458 Views 0 comment Print

In the Income-tax Rules, 1962, in rule 10V, in sub-rule (12), after the second proviso and before the Explanation, the following provisos shall be inserted, namely:‑ Provided also that the provisions of sub-rules (3) to (12) of rule 10VA shall, mutatis mutandis, apply to the application made under the second proviso as they apply to application made under sub-rule (2) of the said rule:

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