HC directed the Income-Tax Department to allow tax deducted at source (TDS) credit to the assessee, even if the same is not deposited by the employer. Further held that, where tax has been deducted by an employer but not paid to the Central Government, the Department should resort to Section 201 of the Income-tax Act, 1961 (IT Act) to recover TDS from the employer.
Pursuant to detailed analysis as brought out above, it is established that reversal trades are not normal transactions and it clearly demonstrates beyond reasonable doubt that the Noticee had intentionally executed these trades and manipulated the volume by artificial trading pattern in the contract ‘HPCL15FEB600.00CE’ where the trades executed by the Noticee during the Investigation […]
The objective of Consultation Paper regarding developing ‘One Commodity One Exchange’ is to solicit comments/views from the public on the proposal regarding developing the concept of ‘One Commodity One Exchange’ so as to reduce fragmentation of liquidity and help every stock exchange to develop an exclusive set of un-fragmented liquid contracts.
Part I – Law(s) Governing the eForm MSC-4 Section and Rule Number(s) e-Form MSC-4 is required to be filed pursuant to Section 455(5) of the Companies Act, 2013 and Rule 8 of Companies (Miscellaneous) Rules, 2014 which are reproduced for your reference. Section 455 (5): A dormant company shall have such minimum number of directors, […]
New Functionalities on GST Portal New Functionalities made available for taxpayers by Goods and Service Network in different categories are given below: – 1. Registration 2. Refunds, Registration, Returns and Payment 3. Refunds 4. Appeals 5. Enforcement 6. Recovery 1. Registration: – A functionality has been introduced for taxpayers to withdraw their application for cancellation […]
E-commerce operators are required to pay GST on certain specified services supplied through their platform as if they are the supplier of such services liable for payment of tax, as per section 9(5) of the Central Goods and Services Tax Act 2017. E-commerce operators are those who own, operate or manage digital or electronic facility […]
eForm GNL-1- Form for filing an application with the Registrar of Companies Part I – Law(s) Governing the eForm GNL-1 Section and Rule Number(s) eForm GNL-1 is required to be filed pursuant to rule 12(2) of Registrar of Companies (Registration Offices and Fees) Rules, 2014 the Companies Act, 2013 which are reproduced for your reference. […]
eForm INC-12 – Application for Grant of License to an existing company under Section 8 Part I – Laws Governing the eForm INC-12 Section and Rule Numbers eForm INC-12 is required to be filed pursuant to section 8(5) of the Companies Act, 2013 and rule 20 of Companies (Incorporation) Rules, 2014 (Refer Annexure A) The […]
In re Cummins India Limited (GST AAR Maharashtra) Whether parts of diesel marine engine or genset supplied or to be supplied by the Applicant to the Indian Navy are chargeable to 5% IGST or 2.5% CGST + 2.5% SGST as ‘parts of heading of 8902, 8904, 8905, 8906 and 8907’ in terms of Sr. No. […]
AAR held that, contributions from club members, recovered for spending on weekly meetings, other petty administrative expenses amounts to ‘supply’ and the activity of collecting contributions and spending towards meeting and administrative expenditures only, is business under Central Goods and Services Tax Act, 2017
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