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1. Tax wrongfully collected and Paid under wrong head > Section 77 of the CGST Act 2017 provides that if the registered taxpayer has paid CGST and SGST/UTGST, as the case may be on a transaction considered by him to be intra-state supply, but which was subsequently held to be inter- state supply, would get […]
The officers of Central Goods and Services Tax (CGST) Commissionerate, Delhi East, carried out the detailed analysis and unearthed a network of fictitious exporters who were availing and utilizing fake Input Tax Credit (ITC) of Rs 134 crore under the Goods and Services Tax (GST) with an intent to claim IGST refund fraudulently.
(i) These Regulations shall be called the Foreign Exchange Management (Debt Instruments) (First Amendment) Regulations, 2021. (ii) They shall come into force with effect from the date of their publication in the Official Gazette.
As per Entry No. 6 of Notification No. 12/2017- Central Tax (Rate) dated 28.06.2017; All services provided by the Central Government, State Government, Union territory or local authority are exempt from the payment of tax, excluding the following services; (a) services by the Department of Posts by way of speed post, express parcel post, life […]
In present facts of the case the Hon’ble High Court have allowed the writ petition filed by the Company, wherein it was held that so far as the ownership of land is concerned, each company has right to purchase property and the Benami Act, 1988, would not extend to properties purchased by the company.
Section 135(1) of the Companies Act 2013, deals with the CSR provisions and constitution of CSR committee. Modes of spending CSR expenditure: As per Rule 4(2), Companies can spend on CSR activity through any of the below 3 ways. 1. Eligible Companies coming together to form a Trust, Society, or Section 8 Company for conducting CSR […]
Generally, there are two types of shareholders in the company- Registered shareholder and Beneficial Shareholder. Registered shareholders are those whose names are registered as shareholder in the register of members of the company. On the other hand, beneficial shareholders are that shareholders whose name is not entered in the register of members however they hold […]
Foreign Exchange Management (Deposit) Regulations, 2016 do not allow NRI’s to hold the savings bank account in India which means banks are not allowed to accept deposits from the NRI’s in the form of a general savings account. However, Post Offices in India may maintain savings bank accounts in the names of persons resident outside India […]
As per the ICSI UDIN Guidelines, 2019, UDIN shall be generated for the following services rendered by a PCS- 1. Certification of Annual Return in Form MGT-8 under Section 92(2) of the Companies Act, 2013 and Rule 11(2) of the Companies (Management and Administration) Rules, 2014. 2. Issuance of Secretarial Audit Report in terms of […]
This article talks about the rights which are available to the flat buyers under IBC after commencement of CIRP against the builder. HOMEBUYERS AS FINANCIAL CREDITORS The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 inserted an Explanation under Section 5(8) (f) which clarified that payments made by an allottee under a real estate project would be deemed to […]
