"20 October 2021" Archive

Audit conducted by GST department under Section 65 of CGST Act, 2017

I have received suggestions to prepare an article on ‘Audit conduct by the GST Department’ under Section 65 of CGST Act,2017.   I have covered the following topics on Audit conducted by GST officer under Section 65 of CGST Act,2017 for your easy reference and prepare records to be submitted to the GST audit officer to [&hell...

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HC makes scathing remarks against dept for not allowing filing of Form Trans-1

Siddharth Enterprises Vs The Nodal Officer (Gujarat High Court)

HC directs Department is to open the portal and allow the Petitioner to file declaration in Form GST TRAN-1 and GST TRAN-2 so as to enable them to claim the transitional credit of the eligible duties in respect of the inputs held in stock on the appointed day in terms of Section 140(3) of the CGST Act....

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Writ jurisdiction cannot be invoked, in case efficacious alternative remedy is available

Kesoram Industries Ltd. Vs Assistant Commissioner of Central GST & Central Excise (Andhra Pradesh High Court)

Kesoram Industries Ltd. Vs Assistant Commissioner of Central GST & Central Excise (Andhra Pradesh High Court)  The Writ Petition was filed to get relief of levy of interest on late payment. Section 107 of the Act clearly provides an efficacious alternative remedy to the petitioner to approach the appellate authority. It is, indeed, a...

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Worried About Your Family’s Future? Here’s How Life Insurance Can Help

There are situations when the family needs emergency funds. If invested at the right time in life insurance, it could provide benefit at a later stage of life. Financial security is something that is a must to ensure so that family can meet the financial requirement. Individuals often opt for insurance so that they can protect their famil...

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Formation of Company in Dubai (UAE)

The United Arab Emirates (UAE) is a federation which was formed on 02nd December 1971 between Abu Dhabi, Dubai, Sharjah, Ajman, Fujairah, Umm al-Quwain, Fujairah and Ras al Khaimah (7 emirates of UAE). Dubai is one of the largest cities in the Middle East having multitude of opportunities to allow foreign investors to set up […]...

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Section-8 Company-Incorporations and Myths

Section 8 companies are those companies which are incorporated with an objective to promote arts, commerce, education, charity, environment protection, sports, welfare, medicines, etc. The income of the company or money raised by doing events, receiving donations cannot be used for paying out dividends among the members of the company. Th...

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Reg. Multiple requests made for change in CFS for particular bill of lading /consignments

F. No. S/22-Gen-402/2017-18 AM(I) DPD Cell 20/10/2021

It is hereby instructed to all concerned that in cases of multiple requests made for change in CFS for particular bill of lading /consignments, the latest request for change of CFS shall be taken as final request....

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ADD on Phenol imported from European Union, Singapore & Korea RP

Notification No. 61/2021-Customs (ADD) [G.S.R.748(E)] 20/10/2021

Notification No. 61/2021-Customs (ADD) Seeks to rescind Notification No. 06/2016-Customs(ADD) levying ADD on Phenol originating and imported from European Union, Singapore and Korea RP. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 20th October, 2021 Notification No. 61/2021-Customs (ADD) G.S.R.748(E).—In exerc...

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RBI imposes Penalty on payment system operator Paytm & Western Union

Press Release: 2021-2022/1069 20/10/2021

RBI had, by an order dated October 01, 2021, imposed a monetary penalty of ₹1 crore (Rupees one crore only) on Paytm Payments Bank Limited (PPBL), for an offence committed of the nature referred to in Section 26 (2) of Payment and Settlement Systems Act, 2007 (PSS Act)....

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Multipurpose Empanelment of CAs started

Multipurpose Empanelment Form (MEF)  is now hosted at MEFICAI website. Members can fill up the application form directly on the MEFICAI website itself and Submit it. Members can view the Application and can edit the Application in different stages. However after submission of the application form members will not be able to edit the app...

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November 2021