"08 September 2021" Archive

Nuts & Bolts of the LLP Amendment Bill, 2021

BACKGROUND:    The Limited Liability Partnership (LLPs) is an alternative corporate business vehicle that provides the benefits of limited liability but allows its members the flexibility of organizing their internal structure as a partnership based on a mutually arrived agreement. In order to provide greater ease of doing business in I...

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Posted Under: Company Law |

GST Query: Whether GST is Applicable on Sale of Designs outside India

Query: Seller is located in India, he wants to sell his designs on online platforms, located outside India, which manufacture and deliver the goods as per the designs as selected by the customer through online mode.  The platforms collect the money from the customers for the goods sold, retains the value of material, other manufacturing ...

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Posted Under: Company Law |

GST: Seizure of Goods beyond Statutory Period is Unlawful

Taxation regimes (direct or indirect) duly recognize the concept of search and seizure as a legal mechanism to avoid tax evasion and to protect the interest of legitimate taxpayers. Any officer so authorized under a taxing statute may search a premise and seize such goods, tax on which he believes has not been paid. The […]...

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Posted Under: Company Law |

Refund of Service Tax paid under RCM allowed post implementation of GST

NSSL (P.) Ltd. Vs Commissioner of Central Excise, CGST & CE, Nagpur (CESTAT Mumbai)

The Appellant failing to pay its Service Tax Liability under RCM in a stipulated time but shown as liability in the Service tax Return under the Finance Act, 1994, which was repealed and was replaced by the Goods and Services Tax...

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ITC not admissible for bills of Jan to March 2020 for which supplier furnished GSTR-1/3B in November 2020

In re Eastern Coalfields Ltd (GST AAR West Bengal)

In re Eastern Coalfields Ltd (GST AAR West Bengal) Whether the applicant is entitled for input tax credit already claimed by him on the invoices raised by the supplier pertaining to the period Jan-2020, Feb-2020 and March-2020 for which the supplier has paid the tax in November-2020 and whether the applicant has to reverse the […]...

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Symbolic Changes For Promoters Under Listing Regulations

SEBI came out with the discussion paper which reduces minimum lock-in period for promoters after IPO, agrees to controlling shareholder’s concept. Markets regulator SEBI proposed to rationalise the definition of ‘promoter group’ and move to the concept of ‘person in control’ as well as lower the minimum lock-in periods for promo...

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Posted Under: Company Law |

Moratorium under IBC applies only to Corporate Debtors not to promoters

Anjali Rathi Vs Today Homes & Infrastructure Pvt. Ltd. (Supreme Court of India)

However, it clarified that the moratorium was only in relation to the Corporate Debtor (as highlighted above) and not in respect of the directors/management of the Corporate Debtor,...

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Notification No. 32/2021-Customs (N.T./CAA/DRI) | Dated: 08.09.2021

Notification No. 32/2021-Customs (N.T./CAA/DRI) [S.O. 3639(E).] 08/09/2021

Notification No. 32/2021-Customs (N.T./CAA/DRI) | Dated: 08.09.2021 Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Directorate of Revenue Intelligence Notification No. 32/2021-Customs (N.T./CAA/DRI) New Delhi, dated 08.09.2021 S.O. 3639(E). In pursuance of notification No. 60/20...

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New guidelines regarding Hearing of Complaint filed before MahaRERA

Order No. 13/2021 08/09/2021

MahaRERA to lay down procedure in the matter of grant of adjournments when complaints are listed for hearings before the respective Bench of MahaRERA as well as in the matter of submission of documents on which partiel rely upon/ place reliance in the complaints as filed and the mode of hearing of complaints:...

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CA Students allowed to appear in Old/ New scheme in Nov, 2021 exam

Students converted from earlier scheme to revised scheme from July 21, 2021 to August 20, 2021 allowed to appear in Old/ New scheme in November, 2021 examination...

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Posted Under: Company Law |

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