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Archive: 11 June 2022

Posts in 11 June 2022

Project-wise Resolution of Real Estate Company (Supertech Ltd.) in CIRP Process: NCLAT

June 11, 2022 6219 Views 0 comment Print

NCLAT taken view that in ‘CIRP’ Process, Project-Wise Resolution to be started as a test to find out the success of such Resolution. Keeping an eye regarding construction and completion of the projects

AAR cannot give ruling if applicant is recipient of supplies in question

June 11, 2022 930 Views 0 comment Print

No ruling can be given on above two Questions, since the applicant is recipient of in respect of supplies involved in the aforesaid questions.

GST not payable on reimbursement of stipend paid to trainees by Industry Partner

June 11, 2022 5697 Views 0 comment Print

Reimbursement by Industry Partner to applicant, of stipend paid to trainees, does not attract tax under GST Act

PV DC Cables liable to GST at 18% : AAR Maharashtra

June 11, 2022 996 Views 0 comment Print

PV DC Cables manufactured and supplied by Leoni Cable Solutions (India) Pvt Ltd to its Customers liable to CGST at 18%.

GST: Detention: Petitioner entitled for return of surety bond & bank guarantee furnished upon deposit of 25% of penalty

June 11, 2022 2463 Views 0 comment Print

The petitioner shall be entitled for return of the surety bond and the bank guarantee furnished. If the petitioner, upon filing the appeal with the deposit as aforesaid, files with the first respondent, the details of the appeal and the deposit made, the first respondent shall within ten [10] working days from the date of receipt of such information, return the bank guarantee/surety bond furnished.

Why LLP is better than Private Limited Company?

June 11, 2022 7686 Views 2 comments Print

Discover the advantages of Limited Liability Partnerships (LLP) over Private Limited Companies. From cost-effectiveness and compliance to tax benefits and fund withdrawal flexibility, explore why an LLP might be a preferable business structure.

Senior Citizen – Exempt From Filing ITR

June 11, 2022 133722 Views 2 comments Print

Discover the ease for senior citizens in tax compliance! Learn about the exemption from filing Income Tax Return under Section 194P for individuals aged 75 and above, receiving pension and interest income. Conditions and benefits explained.

Applicability of GST on sale of used motor vehicles

June 11, 2022 234819 Views 8 comments Print

AAR ruled that the value to be considered for sale of used motor vehicle would be difference between Sale price & WDV on date of sale under Income Tax Act

Powers of Board & Restriction on Powers of Board – Companies Act

June 11, 2022 10056 Views 0 comment Print

Explore the powers and restrictions of the Board of Directors under Sections 179 and 180 of the Companies Act, 2013. Learn about the authority, limitations, and resolutions crucial for effective corporate governance.

Brief History of CARO & Applicability/Coverage of CARO 2020

June 11, 2022 24618 Views 0 comment Print

Companies (Auditor’s Report) Order i.e. CARO was first introduced in 1988, when central government first introduced Manufacturing and Other Companies (Auditor’s Report) order 1988, which later replaced by CARO 2003, CARO 2004, CARO 2015, CARO 2016 and now with CARO 2020.

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