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Archive: January, 2023

Posts in January, 2023

GST on supply to Water Resource Department of Andhra Pradesh for desilting of foreshore of Prakasam Barrage

January 13, 2023 1458 Views 0 comment Print

In re Reach Dredging Limited (GST AAR West Bengal) Whether Government of Andhra Pradesh- Water Resources Department comes under the purview of State Government and whether the supply being undertaken by the applicant to the said department for desilting of the foreshore of Prakasam Barrage would be taxable vide entry No. 3 (vii) of the […]

GST under RCM on renting of immovable property services received from SEEPZ/SEZ

January 13, 2023 9363 Views 1 comment Print

In re Portescap India Private Limited (GST AAAR Maharashtra) AAAR held that any supply of goods or services or both made to a SEZ developer or SEZ unit for carrying out the authorised operation in SEZ will be considered as zero-rated supply. That is, the said supply will not attract any GST whatsoever. It is […]

Legal aspects for Appointment of first Statutory Auditors in a Private Company & Procedure

January 13, 2023 4419 Views 0 comment Print

Appointment of statutory auditors in a Company incorporated under the Companies Act is one of the important compliance to which every Company should adhere to in terms of Section 139 of the Companies Act, 2013.

How to File GST Return Quickly ?

January 13, 2023 2676 Views 0 comment Print

Individuals who have not opted for the QRMP scheme and business who have annual aggregate sales of at least Rs.5 core must file 25 different GST returns annually. It consists of 2 monthly returns and 1 annual return.

Capital Gain on Issue of Bonus Shares (The Nykaa Strategy)

January 13, 2023 3714 Views 1 comment Print

Find out how Nykaa issued Bonus Shares in the ratio of 5:1 to its existing shareholders & how to calculate Capital Gain on Issue of Bonus Shares (The Nykaa Strategy). Get the story of Nykaa and its IPO now!

Resolution professional not taking any steps to get Corporate Debtor as going concern is bad in law

January 13, 2023 2175 Views 0 comment Print

NCLAT Delhi held that impugned order is liable to be set aside as resolution professional didn’t took reasonable step to get the Corporate Debtor as going concern which is mandated as per Section 25(2)(h) of the Insolvency & Bankruptcy Code, 2016.

Extension granted as referring documents, collecting information and preparing reply like to take more time

January 13, 2023 2130 Views 0 comment Print

Telangana High Court granted two months time for submission of reply to the show cause notice. Further, stated that extended period of two months will be excluded for the purpose of computing period of 180 days under Section 5(3) of the Prevention of Money Laundering Act, 2002.

Sovereign Green Bonds (SGrBs)-Categorisation and Classification

January 13, 2023 1566 Views 0 comment Print

Investment in Sovereign Green Bonds shall be treated as Investment in Infrastructure and shall be classified as Central Government Securities under Category Code CSGB

Tariff Notification No. 04/2023-Customs (N.T.) Dated: 13th January, 2023

January 13, 2023 2724 Views 0 comment Print

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver vide Notification No. 04/2023-Customs(N.T.) Dated: 13th January, 2023. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi, Notification No. 04/2023-Customs (N.T.) | Dated: 13th January, 2023 S.O. 259(E).- In exercise of the powers conferred by sub-section […]

CBIC exempt COVID-19 vaccines from basic Custom duty till 31.03.2023

January 13, 2023 564 Views 0 comment Print

CBIC exempt COVID-19 vaccines from basic Custom duty till 31st March, 2023 vide Notification No. 01/2023–Customs Dated: 13th January, 2023. MINISTRY OF FINANCE (Department of Revenue) Notification No. 01/2023–Customs | Dated: 13th January, 2023 G.S.R. 22(E).—In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the […]

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