"18 August 2022" Archive - Page 5

GST on Supply of services for cultivation, planting & nurturing of fruit trees

In re Raj Mohan Seshamani (GST AAR West Bengal)

In re Raj Mohan Seshamani (GST AAR West Bengal) Question: What would be the SAC Code & GST Rate for the outward supply made by the applicant, in case of fruit trees being cultivated and nurtured at marginalised communities? Answer: Supply of services for cultivation, planting and nurturing of fruit trees shall be covered under serial...

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Nidhi Companies under Companies Act, 2013

'Nidhi' means a company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members. Such Companies receive deposits from and lend to its members only for their mutual benefit....

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Disclosures by Listing Companies on Website under Company Law & SEBI Regulations

As per the Companies Act 2013 it’s not mandatory for the companies to have a website whereas, SEBI Listing (Obligations and Disclosure Requirements) Regulations 2015 mandate for listed companies to have updated website. There are various compliance related to website disclosure which needs to be complied by the Companies having website ...

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Gold Investment in India: Everything you need to know

#AD One of the most popular investments in India is gold. Its strong selling advantages include high liquidity and the ability to overcome inflation, charm, prestige, and other qualities. When the markets are turbulent, gold prices soar. Even if there are times when gold prices fall in the markets, these periods are brief, and gold [&hell...

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Section 14A disallowance not considerable in Section 115JB book profit computation

Sundaram Finance Holdings Limited Vs ACIT (ITAT Chennai)

ITAT held that no disallowance of expenses can be made in respect of exempt income by invoking the provisions of s. 14A of the Act r/w Rule 8D of the Rules while computing book profit u/s. 115JB of the Act....

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Physical Verification of Registered Office Address of Company by ROC

G.S.R. 643(E). 18/08/2022

MCA vide its Notification dtd. 18th August, 2022, has notified Companies (Incorporation) Third Amendment Rules, 2022 which pertains to physical verification of the registered office address of the Companies. This rule is added to make sub-section (9) of section 12 fully functional and to provide the procedural aspect. Sub-section (9) was ...

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Housing Credit to Poor after Borrowings from Financial Institutions is a lending Activity & not a charitable activity

Dhan Housing and Habitat Development of Poor for Empowerment Confederation Vs CIT (Exemption) (ITAT Chennai)

Assessee is facilitating the poor people to access to housing credit, which otherwise would not be available to them due to mortgage requirements etc. The only source of funding for the assessee is borrowings and the donations are almost negligible. In such a case, the activity is nothing but a mere-lending activity....

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Block Mechanism in demat account of clients undertaking sale transactions

Circular No. SEBI/HO/MIRSD/DoP/P/CIR/2022/109 18/08/2022

Securities and Exchange Board of India Circular No. SEBI/HO/MIRSD/DoP/P/CIR/2022/109 | Dated: August 18, 2022 To, All Depositories All recognized Stock Exchanges and Clearing Corporations Madam / Sir, Sub: Block Mechanism in demat account of clients undertaking sale transactions 1. SEBI, vide circular no. CIR/HO/MIRSD/DOP/P/CIR/2021/595...

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KTBS not State Government or educational institution for GST

In re Bhagyam Binding Works (GST AAR Karnataka)

KTBS can be classified as 'educational institution' or State Government for applicability of GST on printing services, 18% GST Payable. ...

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GST on services to Karnataka Secondary Education Examinations Board

In re P.K.S Centre for Learning (GST AAR Karnataka)

GST on Services of of printing stationery items such as question papers, admit cards, SSLC Pass Certificate, overprinting of variable data and lamination, fail marks cards, Circulars, ID Cards on contract basis for the Karnataka Secondary Education Examinations Board and utilized for conduct of examinations...

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November 2022