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Archive: 02 August 2022

Posts in 02 August 2022

Mere non availability of stock register not sufficient to reject trading results

August 2, 2022 1110 Views 0 comment Print

Mere non availability of stock register cannot be sufficient to reject trading results when the audited final accounts and other sources including the VAT data are available to cross verify the trading results including the sales verification.

Profit & Loss account not signed by Directors: MCA Imposes ₹4 Lakh Penalty

August 2, 2022 2670 Views 0 comment Print

Learn about the penalty imposed on LOIN TECHNOLOGY PRIVATE LIMITED under Section 134(1) of the Companies Act, 2013, by the Registrar of Companies, Madhya Pradesh.

CBDT notifies Telangana State Pollution Control Board under Section 10(46)

August 2, 2022 666 Views 0 comment Print

CBDT notifies Telangana State Pollution Control Board under Section 10(46) of income Tax Act, 1961 vide Notification No. 88/2022-Income-Tax | Dated: 2nd August, 2022. MINISTRY OF FINANCE Department of Revenue (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 88/2022-Income Tax | Dated: 2nd August, 2022 S.O. 3616(E).—In exercise of the powers conferred by clause […]

Govt increases Special Additional Excise Duty on production of Petroleum Crude

August 2, 2022 492 Views 0 comment Print

Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to increase the Special Additional Excise Duty on production of Petroleum Crude and exempt export of Aviation Turbine Fuel vide Notification  No. 22/2022-Central Excise | Dated: 02nd August, 2022 MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification  No. 22/2022-Central Excise | Dated: 02nd […]

Govt reduces Special Additional Excise Duty on Diesel

August 2, 2022 528 Views 0 comment Print

Seeks to further amend No. 04/2022-Central Excise, dated the 30th June, 2022, to reduce the Special Additional Excise Duty on Diesel vide Notification  No. 21/2022-Central Excise | Dated: 2nd August, 2022 MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification  No. 21/2022-Central Excise | Dated: 02nd August, 2022 G.S.R. 613(E).—In exercise of the powers conferred […]

Actions taken by department during enquiry need not necessarily be termed as harassment

August 2, 2022 1065 Views 0 comment Print

HC dismissed petition alleging harassment by Superintendent of GST & held that Actions taken by department during enquiry need not necessarily be termed as harassment

Competition (Amendment) Bill, 2022

August 2, 2022 1983 Views 0 comment Print

Competition (Amendment) Bill, 2022 is Introduced in Lok Sabha to amend the Competition Act, 2002 and to provides for the following, namely:— (a) changes in certain definitions like ‘enterprise’, ‘relevant product market’, ‘Group’, ‘Control’, etc., to provide clarity; (b) broadening the scope of anti-competitive agreements and inclusion of a party facilitating an anti-competitive horizontal agreement […]

Bidder cannot request for conversion into sale as a going concern after accepting Corporate Debtor in slump sale

August 2, 2022 1023 Views 0 comment Print

Once a successful bidder had accepted and purchased the Corporate Debtor in slump sale under IBC, the bidder could not request to convert that sale into a sale of Corporate Debtor as a going concern from slump sale as it would affect the rights of members of the stakeholders’ committee prejudicially .

New record of over 72.42 lakh ITRs filed on 31st July 2022

August 2, 2022 8574 Views 0 comment Print

The surge of filing ITRs peaked on 31st July, 2022 (due date for salaried taxpayers and other non-tax audit cases) with over 72.42 lakh ITRs being filed on a single day i.e on 31st July,2022.

Format of Reply to strike off notice u/s 248(1) of Companies Act 2013

August 2, 2022 9234 Views 1 comment Print

Learn how to draft a reply to a strike off notice u/s 248(1) of the Companies Act 2013 in the prescribed form STK-1.

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