"07 September 2022" Archive - Page 3

Concessional duty benefit cannot be denied on goods meant for use in rotor of windmills for notional billing to customer

Nordex India Private Limited Vs Commissioner of Customs (Madras High Court)

Nordex India Private Limited Vs Commissioner of Customs (Madras High Court) Conclusion: Where the goods imported at concessional rate and meant for use in rotor of windmills were used in the manufacture of Wind Operated Electricity Generators at the site of the customer and imported parts invoiced to customer by importer and then installa...

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Writ Jurisdiction cannot be invoked to challenge Section 13(2) SARFAESI Notice

Rajesh Sukamaran Nambiar Vs Central Bank of India (Gujarat High Court)

In present facts of the case, the Hon’ble High Court while dismissing the Writ Petition under Article 226 held that Notice issued by Bank under Section 13(2) of the SARFAESI Act, 2002 cannot be challenged by invoking Writ jurisdiction as effective alternate remedy has been provided under Section 17 of the Act....

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Procedure for Change in Registered Office in Same State & ROC but outside City

Procedure For Change In Registered Office Outside The Local Limits of The City But In The Same State And Same ROC As discussed in the previous article about the change in the Registered Office of a company with the same State/City/Town/Village here we are going to see the detailed steps required to change the Registered […]...

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Posted Under: Custom Duty |

Desh Hubs: Are We Ready To Plug In

In early 2018, India’s export promotion schemes came up for a challenge by US in WTO, for alleged infringement of the multilateral Subsidies and Countervailing Measures Agreement. As per this agreement, export subsidies are prohibited as these are likely to have adverse effects on the interests of other Members. Under WTO dispute report...

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Posted Under: Custom Duty |

ESG vs. Sustainability – What’s the Difference? Why is ESG Important?

Many times, you might have heard sustainability and ESG in the same sentence – in some cases even see them used interchangeably. In a way it makes sense as both address the environmental and social aspects, but there are dissimilarities between the two regarding benchmarking data and disclosures. As a Company Secretary its necessary...

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Posted Under: Custom Duty |

Taxation of Unlisted Share and Biggest Catch in Disclosure in ITR

Nowadays there is a boom in equity transactions, investment etc., Indian investors have gone beyond traditional gold, silver, real estate to equities, mutual funds and few have further seen to be investing in the public companies which are about to be listed (Shares brought in unlisted market). Today we are going to understand the Taxatio...

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Posted Under: Custom Duty |

Sphere of Section 146 of Companies Act, 2013 – Auditors to attend general meeting

There are many untouched provisions of the Companies Act, 2013 (Act) wherein not much emphasis or clarification has been furnished by the appropriate authority or any respected professional. Section 146 of the Act is one of them. For quick reference, reproducing extract of Section 146: “All notices of, and other communications relating ...

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Posted Under: Custom Duty |

Periodical SEBI Compliances

INTRODUCTION Periodical SEBI related Compliance by Listed companies can be categorised as under 1. Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 i. Quarterly Compliances ii. Half Yearly Compliances iii. Annually Compliances iv. Event Based Compliances 2. Securities and Exchange ...

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Posted Under: Custom Duty |

NSE Guidance note on use of digital signature by listed companies

Circular Ref No: NSE/CML/2022/44 07/09/2022

Presently, listed companies shall submit all corporate announcements using DSC except Outcome of Board meeting which includes only financial result...

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Brief history of income tax in India & notes on Section 1 of Income-tax Act, 1961

The first Income-tax Act in India was introduced in 1860 on account of financial stress owing to the mutiny of 1857 and was to be in force for a period of 5 years. The concept of the aggregate income from all sources was not material except for determining the minimum taxable limit....

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Posted Under: Custom Duty |