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Clarification on approval of resolution plans U/s. 30 & 31 of IBC, 2016

October 25, 2017 2775 Views 0 comment Print

Clarification has been sought by stakeholders as to whether approval of shareholders/ members of the corporate debtor/ company is required for a resolution plan at any stage during the process for its consideration and approval as laid down under sections 30 and 31 of the Insolvency and Bankruptcy Code, 2016

Time to Submit installation certificate under EPCG Scheme

October 25, 2017 27255 Views 5 comments Print

Onetime relaxation for condonation of delay in submission of installation certificate under EPCG Scheme is being provided. Public Notice No. 37/2015-20

Obtaining extension in Export Obligation period under EPCG Scheme

October 25, 2017 9915 Views 1 comment Print

Onetime relaxation for condonation of delay in submission of request for obtaining extension in Export Obligation period under EPCG is being provided.

Block-wise extension in Export Obligation period under EPCG Scheme

October 25, 2017 10320 Views 0 comment Print

Onetime relaxation in condonation of delay of submission for obtaining block-wise extension in Export Obligation under EPCG scheme is provided

Nature of Agricultural income would not change merely because operation were done in a greenhouse

October 24, 2017 4581 Views 0 comment Print

Assessee was engaged in the business of plant floriculture and tissue culture, and claimed exemption of income under section 10(1) for being agricultural income, AO was not justified in disallowing exemption on the ground that basic operation were done in greenhouse since involvement of greenhouse would not change the nature of operations.

Appeal cannot be dismissed for defect in form without granting Opportunity to cure defect

October 24, 2017 5604 Views 0 comment Print

The Income Tax Appellate Tribunal [ITAT], Chandigarh bench, has held that the appellate authority cannot dismiss an appeal by pointing out the defects in its form without granting an opportunity to the assessee to cure the defects.

NCLT imposes Rs. 10 Lakh Cost for seeking transfer of cases on minor excuses

October 24, 2017 6138 Views 0 comment Print

Cyrus Investment & Anr Vs. Tata Sons Ltd. & Ors. (National Company Law Tribunal) A perusal of the aforesaid prayer does not leave any manner of doubt that the prayer was made for entrusting the Company Petition No. 82/2016 to such Bench of the NCLT as may be appropriate for hearing the same on the […]

Permission to resident / non-resident entities to hedge transactions with simple Procedures

October 24, 2017 843 Views 0 comment Print

Notwithstanding anything contained in paras 4, 5, 5A and 5B, resident entities with foreign currency exposures and non- resident entities with rupee exposures, other than individuals, may hedge underlying exchange rate risk arising out of transactions permitted under Foreign Exchange Management Act, 1999

Constitution of Advance Ruling Authority under MGST Act

October 24, 2017 1587 Views 0 comment Print

overnment of Maharashtra hereby constitutes the Maharashtra Authority for Advance Ruling for the State of Maharashtra consisting of :— (1) Shri B. V. Borhade, Joint Commissioner of State Tax and (2) Shri Pankaj Kumar, Joint Commissioner of Central Tax.

6 FAQs on GST Registration and if Turnover Less than 20 Lakh

October 24, 2017 85401 Views 33 comments Print

Registration for persons who makes inter- State supply of services and have aggregate turnover less than Rs. 20 lac, p.a. is exempted. For details please refer to Notification No. 10/2017- Integrated Tax dated 13.10.2017

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