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Archive: 29 November 2021

Posts in 29 November 2021

GST on trailers to be used for agriculture purpose – AAR rejects application

November 29, 2021 519 Views 0 comment Print

In re NPS Industries (GST AAR Karnataka) i. Rate of tax on trailers registered to be used for agriculture purpose. ii. Rate of tax on trailers without tipping kit and to be registered for use for agricultural purposes. But the Applicant, vide their letter dated 16.08.2021, requested to permit them to withdraw the instant application, […]

Benefit of concessional rate of customs duty on ‘Coated Paper’ was allowable

November 29, 2021 1305 Views 0 comment Print

PLG Impex Vs Commissioner of Customs (CESTAT Delhi) Conclusion: The ‘coated paper’, as certified by the competent authority designated under the Comprehensive Economic Partnership Agreement (CEPA), did not conform to the description corresponding to sub-heading 8410.13 of First Schedule to Customs Tariff Act, 1975. The denial of the benefit of the concessional rate of duty […]

Lok Sabha Passes Farm Laws Repeal Bill, 2021

November 29, 2021 852 Views 0 comment Print

AS PASSED BY LOK SABHA ON 29-11-2021 Bill No. 143-C of 2021 THE FARM LAWS REPEAL BILL, 2021 A BILL to repeal the Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Act, 2020, the Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Act, 2020, the Essential Commodities (Amendment) Act, 2020 and to […]

How violation of 19(2) of Banking Regulation Act is treated by RBI in recent past

November 29, 2021 8829 Views 1 comment Print

Yesterday’s many financial newspapers carried news: The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on SBI for holding shares in borrower company of an amount exceeding 30 percent of the paid-up share capital of the company. Relevant Text of the RBI Press release dated Nov 26, 2021 is […]

Income Tax on Car sold after personal use for 6 year

November 29, 2021 41010 Views 4 comments Print

Understanding the tax implications of selling a car after 6 years of personal use. Learn whether the gain is taxable under the Income Tax Act, 1961.

Compensation for Loss of Office | Section 202 | Companies Act, 2013

November 29, 2021 7845 Views 0 comment Print

There might be situations where a person is forced to retire from his office, not voluntary of course, then this section acts as a cushion and sword for him for compensation for his loss of such office. Accordingly, in this article we shall study about the provisions of Section 202 of the Companies Act, its applicability, timeline, quantum of loss that can be claimed and other frequently asked questions (FAQs).

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November 2021