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Archive: 08 December 2022

Posts in 08 December 2022

GST on Real Estate – Joint Development Agreements (JDA)

December 8, 2022 27591 Views 1 comment Print

Under joint development agreements, two or more parties join hands to carry out a common project for a profit. Typically, parties work on principal-to-principal basis and divide roles and responsibilities on the basis of experience, and resources of each party. Say, landowner brings in land and developer undertake construction on such land.

Number of recognized Startups increased from 452 in 2016 to 84,012 in 2022

December 8, 2022 768 Views 0 comment Print

Sustained Government efforts result in increasing the number of recognized Startups from 452 in 2016 to 84,012 in 2022 Sustained Government efforts in this direction have resulted in increasing the   number of recognized Startups from 452 in 2016 to 84,012 in 2022 (as on 30th November 2022), Minister of State for Commerce and Industry, Shri […]

Inter Corporate Loans and Investments – Section 186

December 8, 2022 36768 Views 0 comment Print

A Company can give loans and guarantees, acquire securities or make investments in another company or body corporate with the consent of the board or shareholders. Such loans given by a company to other companies or body corporates are known as inter-corporate loans. When a company invests in another company, it is known as inter-corporate investment.

Books of Accounts & Records Under GST

December 8, 2022 12015 Views 1 comment Print

Recently you might be aware that, so many numbers of notices are received by a various registered persons from GST authorities both central and state for the period from 2017-18 to 2020-21.

Emergency Fund- Your Financial Shield

December 8, 2022 1191 Views 0 comment Print

Discover the importance of an Emergency Fund as your financial shield. Learn what it is, how to build it, and the benefits it provides in times of financial uncertainty. Start creating a separate fund to cover daily expenses and protect yourself from unexpected situations.

Cancelled GST registration be restored subject to conditions in paragraph 229 of order of Tvl. Suguna Cutpiece Centre case

December 8, 2022 2646 Views 0 comment Print

HC directed the petitioner to file the pending GST returns thereafter the GST registration cancelled, on account of non-filing of GST return for continuous period of 6 months, will be restored.

Corporate Fraud in India & Outside India under Companies Act 2013 

December 8, 2022 3054 Views 0 comment Print

Dive into the complexities of Corporate Fraud under the Companies Act 2013 in India. Explore the introduction of Section 447, imprisonment, and financial penalties for offenders. Understand the comparison between robbery and fraud, reasons for committing corporate fraud, and the special features of such fraud in India and beyond.

Notice is mandatory for physical verification of place of business under Rule 25 of CGST Rules, 2017

December 8, 2022 13818 Views 0 comment Print

Bimal Kothari Vs Assistant Commissioner (DSGST) & Ors (Delhi High court) The Hon’ble Delhi High Court (“the High Court”) in the case of M/s. Bimal Kothatri v. Assistant Commissioner (DSGST) & Ors. [(W.P.(C) 9207/2019 & CM No. 37947/2019] dated November 01, 2022, held that cancellation of GST registration is not sustainable when no notice was […]

Order passed without Document Identification Number is invalid

December 8, 2022 3525 Views 0 comment Print

ITAT Kolkata held that non-mentioning of the Document Identification Number (DIN) on the body of the order makes the order as invalid and deemed to have never been issued.

Order passed beyond limitation period by TPO u/s 92CA(3A) is unsustainable

December 8, 2022 2847 Views 0 comment Print

ITAT Mumbai held that any order passed by the TPO beyond a period of limitation as prescribed under the provisions of section 92CA(3A) of the Income Tax Act is bad in law.

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