In re Amazon Seller Services Pvt. Ltd. (CAAR Mumbai) Classification of four different devices, namely, Audio Receiver (Echo Link) having model no. SXP16E, Audio Transceiver and Amplifier (Echo Link Amp) having model no. K9Y29E, Media Transmission Device (Echo Auto) having model no. BP39CN, and Echo Flex having model no. C77A68. Audio Receiver (Echo Link) having […]
Biesse Manufacturing Company Pvt. Ltd. Vs DCIT (ITAT Bangalore) We have noticed that the turnover of the assessee company for software development segment was Rs. 4.56 crores and hence the assessee company falls in the category of companies having turnover of Rs. 1 to 200 crores. The coordinate bench in the case of Autodesk India […]
In re Garware Industries Limited (GST AAR Maharashtra) Question: – Whether as per Notification no. 20/2019 dated 30/09/2019, services provided by Garware industries Limited falls under clause (id) Heading 9988. Answer:- The Impugned services provided by applicant falls under clause (id) Heading 9988. FULL TEXT OF ORDER OF AUTHORITY OF ADVANCE RULING, MAHARASHTRA PROCEEDINGS (Under […]
In re Accurex Biomedical Private Limited (GST AAR Maharashtra) Question: – HSN Classification and GST rate to be charged on below products: 1. Turbilatex C-reactive protein (CRP) infinite 2. HbA1c infinite Answer:- The said products are classifiable under Heading 38.22 and under Sr.No 80 of Schedule II of the Notification No. 1/2017 – Central Tax […]
In re Fine Electro Coating (GST AAR Maharashtra) Since no new product comes into existence after the process conducted by the applicant on the goods supplied by its principals, therefore the process undertaken will come under the purview of jobwork as defined under Section 2 (68) of the GST Act, 2017. Thus, in view of […]
In re Mumbai Port Trust (GST AAR Maharashtra) Question. Whether in law and in facts and circumstances of the case, the Applicant (MbPT) is entitled to exemption from payment of GST in terms of Entry No.3 of the Notification No. 12/2012-CTR dtd.20-06-2012 on the following considerations payable to it by Mumbai Metropolitan Region Development Authority […]
This article provides the Detailed procedure to be followed for compounding the offences under the Companies Act, 2013. IMPORTANT NOTES: – ♦ Compounding can be done either before (or) after the institution of any prosecution. ♦ The compounding authority has no power to impose fine which exceeds the maximum amount of fine which may be […]
INVESTMENTS MADE BY NRI IN INDIA Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) Regulations, 2019 Reporting Requirements: The reporting requirement for any Investment in India by a person resident outside India shall be as follows: (1) Form Foreign Currency-Gross Provisional Return (FC-GPR): An Indian company issuing equity instruments to a person […]
FILING OF FINANCIAL STATEMENTS UNADOPTED 1. As per the proviso to Section 137(1) where the financial statements under sub-section (1) are not adopted at AGM or adjourned AGM such unadopted financial statements along with the required documents under sub-section (1) shall be filed with the Registrar within thirty days of the date of AGM. 2. […]
1. For ODI under Automatic route: Under the Automatic Route, an Indian Party does not require any prior approval from the Reserve Bank for making overseas direct investments in a JV/WOS abroad. Indian Parties / Resident Individuals are required to follow below mentioned procedure for ODI in WOS/JV: Filling form ODI Part I and getting […]
