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Archive: February, 2023

Posts in February, 2023

MCA allows physical filing of Forms GNL-2, MGT-14, SH-8, SH-9 & SH-11

February 22, 2023 10056 Views 0 comment Print

Clarification about filing of Form GNL-2, for the purposes of filing prospectus related documents, MGT-14, PAS-3 and SH-8 during 22.02.2023 to 31.03.2023 due to process of stabilization of 45 forms launched with effect from 23.01.2023.

Applicability of amended Plastic Waste Management Rules, 2016 on imported goods

February 22, 2023 4407 Views 1 comment Print

Importers of goods which are not plastic packaging, but are coming wrapped or packed in plastic packagings, such as machinery, textile, etc., are required to upload the EPR registration in e-sanchit at the time of filing of the Bills of Entry to avoid any query on this issue.

Consultation Paper on Strengthening Corporate Governance At Listed Entities

February 22, 2023 2448 Views 0 comment Print

SEBI Consultation Paper on Strengthening Corporate Governance At Listed Entities By Empowering Shareholders – Amendments To SEBI (LODR) Regulations, 2015

GST provisions cannot be interpreted to deny right to trade & commerce to any citizen

February 22, 2023 4455 Views 0 comment Print

HC held that it is not the object of GST law to curtail right of the assessee to carry out business. Further restored GST registration of assessee which was cancelled due to non-filing of GST returns.

Assessee cannot claim Section 54F exemption based on unregistered Banakhat agreement

February 22, 2023 4272 Views 0 comment Print

ITAT held that, transfer of property only takes place when either possession of property is transferred or sale deed is executed and documents like unregistered ‘Banakhat’ or power of attorney are not substitute of sale deed.

Corporation failed to establish involvement of company in advertising its product without permission

February 22, 2023 1068 Views 0 comment Print

Calcutta High Court dismissed the petition of Kolkata Municipal Corporation in absence of any evidence proving establishing direct or indirect involvement of the respondent company to have advertised its product without permission.

MCA imposes Rs. 92 Lakh penalty for delay in Transfer of Unspent CSR Fund

February 22, 2023 18165 Views 0 comment Print

Violation of Section 135(6) of Companies Act, 2013 by M/S. Kony India Private Limited as company failed to transfer an unspent amount of Rs. 42,09,263/- to the Unspent Corporate Social Responsibility Account within the specified time frame. The company has since transferred the amount, but a penalty has been imposed. The penalty for the company […]

Amendment in Circular No. 26/2016-Customs dated 09.06.2016

February 21, 2023 6909 Views 0 comment Print

It has been brought to notice that cases of such antecedent verification arc lacing unreasonable delays at certain field formations. In order to ensure that this task is completed in a time hound manner. it has been decided to amend the aforesaid Circular 26/2016-Customs by inserting the following sentence at the end of Para 4.1

CBIC amends details of ex-bond Bill of Entry / Shipping Bill in Form A

February 21, 2023 3318 Views 0 comment Print

F. No. 483/01/2020-LC Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs Room No. 227 A. North Block, New Delhi *** Circular No. 04/2023-Customs Dated 21st February, 2023 To. All Principal Chief Commissioners/ Chief Commissioners of Customs All Principal Chief Commissioners/ Chief Commissioners of Customs (Prey.) All Principal […]

Amendment in Import Policy condition of Cashew Kernels (Broken/ whole)

February 21, 2023 2058 Views 0 comment Print

Minimum Import Price (MIP) on Cashew kernel (broken / whole) will not be applicable for imports by 100% Export Oriented Units (EOUs) and units in the SEZs subject to the condition that the imported Cashew Kernels are not sold into Domestic Tariff Area (DTA).

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