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MCA notifies new provisions for Issue of shares on private placement basis

August 7, 2018 15291 Views 0 comment Print

MCA has notified revised Section 42 of Companies Act, 2013 related to Issue of shares on private placement basis by with effect from 7th August 2018 by notifying section 10 of Companies (Amendment) Act, 2017 vide Notification Dated 7th August, 2018. Government of India Ministry of Corporate Affairs Notification New Delhi , the 7th August, […]

Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2018

August 7, 2018 30618 Views 0 comment Print

MCA notifies Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2018 and substituted existing rule 14 related to private placement of Companies (Prospectus and Allotment of Securities) Rules, 2014 vide Notification dated 7th August, 2018

HC explains the Principle for reliability of computer printouts as admissible evidence

August 6, 2018 5919 Views 0 comment Print

Shri A K Prasad Vs Shri S. K. Bansal (CESTAT Delhi) The Evidence Act does not contemplate or permit the proof of an electronic record by oral evidence if requirements under Section 65B of the Evidence Act are not complied with, as the law now stands in India. Thus, it has been clearly laid down […]

GST Payable on Penal Interest for default in EMI payment: AAR

August 6, 2018 8025 Views 0 comment Print

In re Bajaj Finance Limited (AAR GST Maharashtra) Exemption for financial transactions under GST laws is only in respect of the interest/discount earned or paid for loans, deposits or advances. If the transaction, as in the subject case deviates from the above the same fails the test of being a ‘loan’, ‘deposit’ or ‘advance’, or […]

GST on whole (Sheep/Goat) animal carcass in its natural shape in frozen state supplied to Army

August 4, 2018 2133 Views 0 comment Print

In re M/s Monrovia Leasing and Finance Pvt. Ltd. (GST AAR Maharashtra) Q.1 Whether the whole (Sheep/Goat) animal carcass in its natural shape in frozen state in different weight and size packed in LDPE bags without mentioning the weight and one or two such LDPE bags further packed in HDPE bags being supplied to Army […]

Technical error cannot be treated as Professional Misconduct or gross negligence

August 4, 2018 2715 Views 0 comment Print

Ramchandra Y. Kulkarni Vs Disciplinary Committee of icai (Appellate Authority) complainant is an Asset Reconstruction Company and the only grievance of the Complainant is that the Appellant who was auditor of M/s AV Forging Private Limited, a company which had taken loans from M/s Axis Bank amounting to Rs. 22.70 Crores approximately, which were taken […]

Minimise impact of GST on private security industry: FICCI

August 3, 2018 1422 Views 0 comment Print

Finance Ministry is actively considering FICCI’s recommendation to reduce the GST rate on private security agencies from the current level of 18% to minimise the impact of the levy on the industry and capitalise on its job-creation potential.

Compensation for Discontinuing Commodity Trading Business is Taxable U/s. 28(va)

August 3, 2018 1158 Views 0 comment Print

M/s. Geojit Investment Services Limited Vs JCIT (ITAT Cochin) The assessee-company in the instant case, had received the compensation for not carrying on any activities in relation to its commodity trading business. The compensation so paid for not carrying any activity in relation to any business (commodity trading business) would be taxable going by the […]

Loading or Unloading of Goods for Movement out of factory or into factory amounts to Cargo Handling Service

August 3, 2018 15189 Views 0 comment Print

If the goods are moved out of the factory or into the factory they meet the definition of cargo and the activities of handling it is cargo handling service.

How to Download GST Notices and Demand Orders

August 3, 2018 79725 Views 0 comment Print

Can I View Notices & Orders issued by the Tax Officials at the GST Portal? All the notices and demands raised by the Tax Authorities are displayed on the Taxpayer’s dashboard in a descending chronological order. On clicking View Notices and Demand Orders, all the notices and demand orders issued to you will be displayed in descending chronological order. 2. What data can I see for the Notices and Demand Orders issued to me?

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