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Help Desk for GST issues related to Foreign Trade Policy

June 14, 2017 1458 Views 0 comment Print

In continuance of Trade Notice No. 08/2018 dated 8th June 2017 and in furtherance of objectives stated in the said trade notice, it is decided to constitute a GST Help Desk in DGFT Headquarters to reply queries on GST related to Foreign Trade Policy.

Sale of Leasehold Rights taxable and Section 50C applicable

June 14, 2017 5418 Views 0 comment Print

Assessee was allotted a residential plot on 19.01.2004 in Sector-105, Noida through lottery on payment of allotment money of Rs.1,30,000/-. The total purchase price of the plot was Rs. 16,75,000/-. 2. The assessee on 28.02.2004 entered into an Agreement to sell in respect of this plot with M/s Rosebud Construction Pvt. Ltd through its Director […]

SEBI Circular on Recording of NDU in Depository System

June 14, 2017 4941 Views 0 comment Print

It has been observed that some shareholders, primarily promoters, enter into non-disposal agreements/ non-disposal undertaking (NDU) for borrowing funds from various lenders. NDUs are typically undertakings given by a shareholder not to transfer or otherwise alienate the securities and are in the nature of negative lien given in favour of another party, usually a lender.

New Exemptions to Government Companies under section 462 of CA, 2013

June 13, 2017 7821 Views 0 comment Print

Appointment of Directors- Chapter XI, subsections (6) and (7) of section 152. Shall not apply to – (a) a Government company, which is not a listed company, in which not less than fifty-one per cent. of paid up share capital is held by the Central Government, or by any State Government or Governments or by the Central Government and one or more State Governments; (b) a subsidiary of a Government company, referred to in (a) above

New Exemptions to Section 8 Companies under section 462 of CA, 2013

June 13, 2017 5292 Views 0 comment Print

G.S.R. 584(E). – Sub-section (7) of section 186 Provided that nothing contained in this sub-section shall apply to a company in which twenty-six per cent. or more of the paid-up share capital is held by the Central Government or one or more State Governments or both, in respect of loans provided by such company for funding Industrial Research and Development projects in furtherance objects as stated in its memorandum of association

Technical fee for setting up of new plant for first time to manufacture cars is revenue expenditure

June 13, 2017 1290 Views 0 comment Print

Assessee in all these appeals is Honda SIEL Cars Ltd. (hereinafter referred to as the Assessee). Question of law that is raised is also identical. Five appeals are filed only because of the reason that same issue has occurred in different Assessment Years, i.e., for the years 1999-2000, 2001-2002, 2002-2003, 2003-2004 and 2005-2006.

Cheque dishonour – Section 138 complaint not maintainable if Bank A/c was locked by statutory authority

June 13, 2017 16515 Views 0 comment Print

The provision contained in section 138 of the N.I. Act makes it clear that it is not every return of a cheque unpaid which leads to prosecution of an offence under the said provision of law.

Product Design for Trading in options on commodity futures

June 13, 2017 927 Views 0 comment Print

This circular is hereby being issued to stipulate necessary guidelines with regard to the product design and risk management framework to be adopted for trading in options on commodity futures.

Guidelines for Investor Protection / Service Fund at NCDEX

June 13, 2017 1137 Views 0 comment Print

SEBI Circular on Comprehensive guidelines for Investor Protection Fund, Investor Service Fund and its related matters at National Commodity Derivatives Exchanges

Alignment of State Codes of ICES with GSTN

June 13, 2017 2454 Views 0 comment Print

Currently in ICES, State Codes are maintained as per RBI list, and is used being for declaration in Bills of Entry and Shipping Bills for various purposes.(State of Origin in Shipping Bill and State Code for VAT Registration).

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