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"01 December 2021" Archive

Upcoming Social Stock Exchange – A Gamechanger for Philanthropies in India?

The concept of a Social Stock Exchange (SSE) is rather new. It is a mechanism that allows companies engaging in work for the betterment of the society to raise finance in an environment that is quite similar to that of a stock market....

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Posted Under: SEBI |

When Sinha spoke…..an analysis

I had the opportunity to listen to Mr. Yashwant Sinha, former finance minister of India speaking his mind in a webinar organized by the Cochin Chamber of Commerce on the 20th of November 2021. He spoke for over an hour and took several questions from the participants. The crux of his delivery is reproduced here […]...

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Posted Under: SEBI |

GST Evasion accused released on regular bail after 2½ years

Manish Vs State of Haryana (Punjab and Haryana High Court)

The petitioners are alleged to have floated bogus firms and by entering into bogus transactions with bigger firms, they were getting huge amounts deposited in the bank accounts of the bogus firms so floated and were eventually facilitating the big firms to save on GST in a fraudulent manner...

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Refund claim allowed despite non-filing of ST-3 return for claim period

Blue River Capital India Advisory Services LLP Vs Commissioner of CGST & Central Excise (CESTAT Mumbai)

Blue River Capital India Advisory Services LLP Vs Commissioner of CGST & Central Excise (CESTAT Mumbai) Facts- Refund claim filed by the appellant is rejected on various grounds like- -For the refund claim period no ST-3 return was filed. -Services allegedly exported by the appellant were not used outside India. -Some input tax credit...

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Accident claim benefit available only when accident took place after reviving of policy

Life Insurance Corporation of India Vs Sunita (Supreme Court of India)

Accident benefit could have been claimed and availed of only if the accident had taken place subsequent to the renewal of the policy. The policy in the instant case was lying in a lapsed condition since 14th October, 2011 and, therefore, was not in force as on 06.03.2012, resultantly, the claim over Accident benefit was not payable to the...

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Petitioner entitled to avail NIL rate of withholding tax on aircrafts leased to AIL – Delhi HC

Celestial Aviation Trading 64 Limited Vs ITO (Delhi High Court)

Celestial Aviation Trading 64 Limited Vs ITO (Delhi High Court) Facts- The petitioner entered into an Aircraft Specified Lease Agreement with Air India Limited for lease of one aircraft for a period of 12 years. The case of the petitioner is that the petitioner made applications under Section 197 of the Act for ‘Nil‟ rate [&hellip...

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Ownership Guidelines & Corporate Structure for Indian Private Sector Banks

The IWG had made a total of 33 recommendations. After examining the comments and suggestions received from the stakeholders and members of the public, it has been decided to accept 21 recommendations (some with partial modifications, where considered necessary), as listed in Annex. The remaining recommendations are under examination....

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Posted Under: SEBI |

UDIN for Audit Forms/Certificates can be updated till 31.01.2022

Whereby, all the missed UDINs between the period 1st February 2019 to 10th March 2021 can now be generated upto 31st March 2021 and this is in continuation to the Condonation Scheme announced previously....

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Posted Under: SEBI |

17,130 Implementing Agencies registered with MCA21 registry

17,130 Implementing Agencies are registered with MCA21 registry The Government provides the broad framework for Corporate Social Responsibility (CSR) through Section 135 of the Companies Act, 2013 (‘Act’), Schedule VII of the Act and Companies (CSR Policy) Rules, 2014. This was stated by the Union Minister of State for Corporate Affai...

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Posted Under: SEBI |

Measures taken by MCA to ameliorate difficulties faced due to COVID-19

Measures taken by MCA to ameliorate difficulties faced due to COVID-19 pandemic The Ministry of Corporate Affairs (MCA) administers the provisions of the Companies Act, 2013 (the Act), The Limited Liability Partnership Act, 2008 and The Insolvency and Bankruptcy Code, 2016. MCA does not maintain data on event base. This was stated by the ...

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Posted Under: SEBI |

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