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Archive: 30 May 2023

Posts in 30 May 2023

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 18, 2024 4449 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 18, 2024 3933 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

Company failed to circulate annual audited financial statements – MCA imposes penalty

May 30, 2023 16044 Views 0 comment Print

The company did not circulate annual audited financial statements to the members, directors and statutory auditors of the company before the annual general meeting of the company held on 27th June 2022, it is contravening the provision of section 136 of the Companies Act. 2013. So, MCA penalised Draeger India Private Limited for failing to circulate […]

Violation of Section 134(2), 134(3) & 134(7) of Companies Act, 2013 – MCA imposes Penalty

May 30, 2023 11712 Views 0 comment Print

Ministry of Corporate Affairs issued an order for penalties under Section 454 of the Companies Act, 2013, against Draeger India Private Limited. The company has been found in violation of Section 134(2), 134(3), and 134(7) of the Companies Act, 2013, for non-compliance during their annual general meeting held on June 27, 2022. The appointed Adjudicating […]

Company failed to circulate proper notice to AGM- MCA Imposes Penalty

May 30, 2023 5940 Views 0 comment Print

Company failed to circulate proper notice to its members and directors for the Annual General Meeting (AGM) scheduled on June 27, 2022, as required by Section 101 of the Act. The company rectified the default by circulating the notice and holding the AGM on November 9, 2022.

Sale of Old/used Vehicles – Implications under GST Laws

May 30, 2023 37752 Views 2 comments Print

Unravel the complexities of GST implications on the sale of old/used vehicles. Delve into the valuation rules under CGST Rules, 2017, governing transactions involving second-hand goods. Explore key points, including the applicability of the rule, conditions for valuation, and the impact of claimed depreciation. Understand the GST rates on used vehicles, categorized by engine capacity and type.

Understanding Trusts: Types, Creation, Tax Benefits to Donor & Taxation of Trust

May 30, 2023 4152 Views 0 comment Print

Unlock the intricacies of trusts with insights into types, creation, tax benefits to donors, and taxation. Understand the roles of authors, trustees, and beneficiaries. Explore the creation process, trust property, and its types—public trusts (charitable and religious) and private trusts (revocable, irrevocable discretionary, and irrevocable non-discretionary).

Casual vacancy & requirement of prior approval of shareholders – Regulations 17(1A)

May 30, 2023 2466 Views 0 comment Print

Question of Law with respect to the applicability of Regulations 17(1A) of SEBI (LODR) Regulations 2015 in case of casual vacancy and requirement of prior approval of shareholders by way of special resolution to fill the casual vacancy if the Independent Director has attained the age of 75 years

Fast Track Merger in 60 Days – Section 233 of Companies Act, 2013

May 30, 2023 38688 Views 1 comment Print

Unlock the benefits of Fast Track Merger under Section 233 of the Companies Act, 2013, with a streamlined process completed in just 60 days. Explore the recent MCA notification mandating the time limit and its impact on the merger application filed before the Regional Director. Delve into the steps involved, including board approvals, notice issuance, declaration of solvency, shareholder/creditor meetings, and filing applications.

Advisory on Filing of Declaration In Annexure V by GTA

May 30, 2023 3267 Views 0 comment Print

Advisory pertaining to Goods Transport Agencies (GTAs) opting to pay tax under the forward charge mechanism According to the advisory, GTAs that have commenced their business or crossed the registration threshold on or after 1st April 2023 and wish to opt for payment of tax under the forward charge mechanism must file their declaration in […]

Classification & taxation of LAN connection cables (CAT-5 & CAT-6) under Rajasthan VAT

May 30, 2023 1041 Views 0 comment Print

Whether the LAN Connection Cable (CAT-5, CAT-6) is taxable under S. No. 3 or 24 of Part A of Entry No. 65 of Schedule-IV or at General Rate as per Schedule-V appended to the Rajasthan Value Added Tax Act, 2003

Power of reopening an assessment is a ‘power’ which should be exercised with adequate reason

May 30, 2023 1173 Views 0 comment Print

HC set aside SCN issued under Section 148A(b) & consequential orders on the grounds that the opportunity of being heard provided at first instance should be an effective opportunity, since, the power of reopening an assessment is a ‘power’ which should be exercised with adequate reason.

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