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Oblivious status of appeals before CIT(A)

March 11, 2023 5601 Views 1 comment Print

Appeals filed half a decade ago (and even a decade ago in some cases), are yet to decide the fate of the taxpayer who is anxiously anticipating a favourable outcome.

Adjustment of duty drawback against pre-deposit under Section 129E of Customs not permissible

March 10, 2023 705 Views 0 comment Print

Colour Cottex Pvt Ltd Vs Commissioner of Customs (Exports) (Delhi High Court) Delhi High Court  find merit in Revenues contentions that the relief directing adjustment of duty drawback against the petitioner’s obligation to make a pre-deposit under Section 129E of the Customs Act is not permissible. The nature of a claim for duty drawback is […]

Limitation period in case of GST Refund rejection – Rule 89(1A)

March 10, 2023 5253 Views 0 comment Print

Gajraj Vahan Private Limited Vs State of Jharkhand (Jharkhand High Court) As per the amended Rule 89 (1A) of CGST Rules, 2017 and Circular dated 25.09.2021, the limitation period for seeking refund would be two years from the date of the instant notification i.e. 24.09.2021. However, in the face of rejection order, petitioner cannot make […]

Implementation of origin procedures under India-Australia ECTA

March 10, 2023 1218 Views 0 comment Print

The India-Australia ECTA recognizes electronic Certificates of Origin. Hence, an e-COO, issued electronically by the Issuing bodies of Australia, is a valid document for the purpose of claiming preferential benefit under India-Australia ECTA

Bar Council of India allows Foreign Lawyers and Foreign Law Firms in India

March 10, 2023 10911 Views 1 comment Print

Bar Council of India Rules for Registration and Regulation of Foreign Lawyers and Foreign Law Firms in India, 2022 vide Bar Council of India Rules for Registration and Regulation of Foreign Lawyers and Foreign Law Firms in India, 2022. BAR COUNCIL OF INDIA NOTIFICATION New Delhi, the 10th March, 2023 Bar Council of India Rules […]

Reimbursement of late fee payable & deposited under Rajasthan GST

March 10, 2023 366 Views 0 comment Print

Regarding guidelines for reimbursement of late fee payable and deposited under Section 47 by the registered taxable person under the Rajasthan Goods and Services Tax Act, 2017 for the period from April 2021 to March 2022.

Penalty imposed for not numbering Board Meeting & pages in minute book

March 10, 2023 31917 Views 0 comment Print

The applicant company and its officers, who have defaulted the provisions of section 118(10) of the Act for not numbering Board Meeting and the pages in the minute book of the company and Minutes book are not signed by the Chairman, further, the minute book of the Company is not paginated at all.

Maharashtra Amnesty Scheme, 2023 for Goods and Services Tax Department

March 9, 2023 110394 Views 8 comments Print

HIGHLIGHTS OF THE MAHARASHTRA STATE BUDGET SPEECH DATED 9TH MARCH, 2023 BY HONOURABLE DEPUTY CHIEF MINISTER (FINANCE) SHRI DEVENDRA FADNAVIS PART-II (A) Amnesty Scheme, 2023 for Goods and Services Tax Department announced :— > This Amnesty Scheme will be called as ‘Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Act, 2023’. > […]

Penalty imposed on company for not furnishing place, time, number & mode of meetings in Board of Director’s Report

March 9, 2023 3216 Views 1 comment Print

Board of Director’s Report serial number of meetings, date of meeting. However, place, time, number and mode of meetings have not been furnished. Hence, requirements of section 118(10) read with SS -1 has not been complied with.

Penalty imposed for not taking approval of shareholders for ESOP exceeding 1% of issued capital

March 9, 2023 4068 Views 2 comments Print

Company at its Board Meeting convened on 05.04.2021 unanimously accorded its approval for grant of 327 options under the Scheme to identified employees during the Financial Year-2021-2022 which exceeds 1% of the issued capital of the company.

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