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No capital gain tax on amount received from WOS for transfer of shares of WOS to a group of shareholders

April 9, 2017 2772 Views 0 comment Print

It is not in dispute that M/s Annamalaiar Textiles (P) Ltd. did not pay any amount to the shareholders who ultimately got the shares transferred in their names. The respondent was holding 100 per cent shares of M/s Annamalaiar Textiles (P) Ltd., before it was transferred to Group B. No payment was made to the shareholders belonging to Group B and, therefore, the question of there being any capital gains at the hands of the respondent herein does not arise.

Adjudicating Officer required to make an enquiry before imposing penalty

April 9, 2017 5205 Views 0 comment Print

The Adjudicating Officer under Food Safety and Standards Act, 2006 (FSS Act of 2006) is required to make an enquiry before imposing penalty over the person charged for violation of Section 26(2) of the FSS Act of 2006.

Anti-Dumping investigation of Glazed/Unglazed Porcelain/Vitrified tiles

April 8, 2017 4224 Views 0 comment Print

Anti-Dumping investigation concerning imports of Glazed/ Unglazed Porcelain/ Vitrified tiles in polished or unpolished finish with less than 3% water absorption”, originating in or exported from China PR.

Understanding Goods and Services Tax (GST)

April 7, 2017 8679 Views 1 comment Print

GST Council – Decisions ◊ Threshold limit for exemption to be Rs. 20 lac (Rs. 10 lac for special category States) ◊ Compounding threshold limit to be Rs. 50 lac –not available to inter-State suppliers, service providers (except restaurant service) & specified category of manufacturers ◊ Government may convert existing Area based exemption schemes into reimbursement based scheme ◊ Four tax rates namely 5%, 12%, 18% and 28%

GST in India – Is it really a “One Nation One Tax”

April 7, 2017 6348 Views 0 comment Print

The term GST stands for Goods and Services Tax, and would be a comprehensive indirect tax levy in India on manufacture, sale and consumption of goods as well as services at the national level. Its main objectives are to cover most of the indirect tax levies into a single tax

Property Tax on IBS/Boosters of Telecom Companies is Constitutionally valid : Gujarat HC

April 7, 2017 1539 Views 0 comment Print

By way of this petition under Article 226 of the Constitution of India, the petitioner as such challenges the levy of General Property Tax on IBS / Booster installed by the petitioner. The petitioner has also by way of amendment prayed for an appropriate writ, direction and order to declare Section 141B of the Gujarat Provincial Municipal Corporations Act, 1949

SC stays HC order on Levy of Stamp Duty on Advertisement Agreements

April 7, 2017 1857 Views 0 comment Print

Argument that it affects the freedom of press and freedom of speech and expression as enshrined under Article 19(1) (a) of the Constitution of India, is mercurial proponement because levy of stamp duty has nothing to do with the concepts that have been highlighted by the learned counsel for the petitioner-Foundation.

A birthright to rule – No More !!!

April 7, 2017 1260 Views 0 comment Print

As ivory towers go; a belief in ones god given right to rule is one that has been broken down piece by piece by the electorate in the recently conducted elections of Uttar Pradesh. The Bharatiya Janata Party in its present incarnation drawing inspiration from the teachings of Ekatma Manav-vaad of Pandit Deendayal Upadhyaya

India as a leading power: Shaping Development Narrative at Home & Abroad

April 7, 2017 846 Views 0 comment Print

If the modest success of the Millennium Development Goals (MDGs) had at its core the remarkable story of China lifting its people from poverty and mass deprivation to the cusp of a middle-income society, the Sustainable Development Goals 2030 (SDGs) agreed by the global community in 2015 will essentially be the narrative of India doing the same in a very different world and context.

MCA passes resolutions to increase use of Hindi Language

April 7, 2017 825 Views 0 comment Print

20012/01/2017-0L(Policy) : The Committee of Parliament on Official Language was constituted in 1976 under the Section 4(1) of the Official Languages Act, 1963. The Committee submitted ninth part of its Report -Lathe President on 02.06.2011 relating to Ministry-wise/Region-wise assessment of the use of Hindi

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