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Archive: November, 2022

Posts in November, 2022

Detention order set aside for supply of illegible/ dim/ blank pages of RUDs

November 10, 2022 1011 Views 0 comment Print

Delhi High Court granted release from detention to detenu on the ground of supply of illegible/ dim/ blank pages of Relied Upon Documents (RUDs). Detention order set aside.

GST as a Tax – Regressive, Progressive or Hybrid?

November 10, 2022 11193 Views 0 comment Print

Is GST a regressive or progressive tax? Find out how taxes can be categorized and their impact on taxpayers ability to pay.

Role of Company Secretaries in Risk Management

November 10, 2022 5571 Views 0 comment Print

Explore the crucial role of company secretaries in risk management and the need for a strong risk culture in organizations.

GST on Compensation of additional cost incurred due to various delays

November 10, 2022 2484 Views 0 comment Print

In re Continental Engineering Corporation (GST AAAR Telangana) Whether GST payable on the claim of Rs. 2,20,00,000/- for the HGCL share of sitting fee and other expenses paid by the applicant on the directions of the Arbitrators for an amount 1. On this count, the lower authority had held that Arbitration as service was supplied […]

Guidance Note for Verification of CGST Transitional Credit Claimed In TRAN-1/TRAN-2

November 10, 2022 17925 Views 0 comment Print

The jurisdictional tax officer and the counterpart tax officer shall verify the transitional credit claimed under the CGST or the SGST head, as the case may be, by referring to the guidelines detailed in Annexure I

Clarification on formula for grant of GST refund in cases of inverted duty structure

November 10, 2022 10569 Views 0 comment Print

Whether the formula prescribed under sub-rule (5) of rule 89 of the CGST Rules, 2017 for calculation of refund of unutilised input tax credit on account of inverted duty structure, as amended vide Notification No. 14/2022-Central Tax dated 05.07.2022, will apply only to the refund applications filed on or after 05.07.2022, or whether the same will also apply in respect of the refund applications filed before 05.07.2022 and pending with the proper officer as on 05.07.2022?

 Tariff Notification No. 93/2022-Customs (N.T.) | Dated: 10th November, 2022

November 10, 2022 1209 Views 0 comment Print

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Notification No. 93/2022-CUSTOMS (N.T.) | Dated: 10th November, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi Notification No. 93/2022-CUSTOMS (N.T.) | Dated: 10th November, 2022 S.O. 5241(E).— In exercise of the powers conferred […]

Sales tax dues of company can’t be recovered from directors of company: Bombay HC

November 10, 2022 5787 Views 0 comment Print

Mukesh D. Ramani Vs State of Maharashtra (Bombay High Court) It is settled law that liability for duty of the company cannot be fastened upon the Directors of the company unless there is statutory provision to that effect. Since the BST Act did not contain any provision to the effect making the Directors liable for […]

Regulation 114(4) of Company Secretaries Regulations, 1982 permits only candidates to challenge election of office bearers

November 10, 2022 708 Views 0 comment Print

Supreme Court held that as per regulation 114(4) of the Company Secretaries Regulations, 1982 election can be challenged by the candidate concerned. Hence, writ petition filed by the petitioner not contesting the election of office bearers to the High Court was wrongly entertained.

Application u/s 7 by Financial Creditor against Guarantor maintainable on default of Principal Borrower

November 10, 2022 1053 Views 0 comment Print

NCLAT Delhi held that Financial Creditors can invoke the proceedings under section 7 of the Insolvency and Bankruptcy Code, 2016 against the Guarantor, who on default of Principal Borrower transforms into Corporate Debtor

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