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GST under RCM when raw cotton is supplied by a farmer via a Kacha Arhtiya

March 20, 2023 15435 Views 0 comment Print

GST AAAR Punjab has delivered a landmark ruling on Bansal Industries, examining the applicability and interpretation of the Notification no. 43/2017-Central Tax (Rate). This judgement sheds light on the contentious issue of who bears the responsibility of tax payment under the Reverse Charge Mechanism (RCM) when raw cotton is supplied by a farmer via a Kacha Arhtiya.

No Restriction for GST Registration For Professional on Residential Address

March 20, 2023 31857 Views 0 comment Print

CGST Act does not restrict GST registration of Management consultants, Architects and other professionals operating from residential premises

SEBI Master Circular for Portfolio Managers

March 20, 2023 15645 Views 0 comment Print

Portfolio Managers shall provide adequate disclosures in the Disclosure Document as well as the agreement with the client pertaining to their participation in the Exchange Traded Commodity Derivatives, including but not limited to the risk factors, margin requirements, position limits, prior experience of the Portfolio Manager in Exchange Traded Commodity Derivatives, valuation of goods, etc.

Delhi South CGST unearths fake invoicing racket

March 19, 2023 1863 Views 0 comment Print

The Central Goods and Service Tax (CGST) Delhi South Commissionerate busts racket of firms fraudulently claiming Input Tax Credit (ITC) of ₹17 crore.

Dept. can’t recover balance amount from petitioner when amount more than pre-deposit paid already

March 18, 2023 2337 Views 0 comment Print

Vihaan Networks Limited Vs The State of Bihar (Patna High Court) The present writ application has been filed seeking quashing of a notice bearing Process No. 336 dated 25.01.2023, issued by the Deputy Commissioner of State Tax, Special Circle, Patna, asking the petitioner to deposit outstanding amount of Rs. 97,24,149/- against the State Goods and […]

Additional affirmations by Practicing Company Secretaries (PCS) in ASCR

March 16, 2023 4377 Views 0 comment Print

All applicable policies under SEBI Regulations are adopted with the approval of board of directors of the listed entities. All the policies are in conformity with SEBI Regulations and has been reviewed & timely updated as per the regulations/circulars/ guidelines issued by SEBI

Penalty on Company for not affixing its name in conspicuous position

March 16, 2023 8301 Views 0 comment Print

During inspection, the 1.0 physically visited the registered office of the company on 09.08.2019 and found that company had not affixed or paint its name in conspicuous position accordance to the provisions of Section 12(3)(a) which shows that company has made the violation of section 12(3)(a) of the Companies Act, 2013.

Do Truckers Get Taxed More

March 16, 2023 2685 Views 0 comment Print

As an owner-operator truck driver, your tax situation is challenging yet unique. You must file and pay taxes like a business owner while also being eligible for truck driver tax deductions.

Financial Information (FI) Types for Balances under National Pension System (NPS)

March 16, 2023 732 Views 0 comment Print

The information is not to be used in any other manner except for the purpose of providing it to the customer or Financial Information User (FIU) with respect to customer’s explicit consent. Thus, the role of AA confined to consolidation, organization, presentation of the financial information to the customer or FIU.

Common & simplified norms for processing investor’s service requests by RTAs

March 16, 2023 3570 Views 0 comment Print

SEBI has received representations from investors regarding difficulties being faced by them with regard to certain procedural aspects of the provisions and varied interpretations with regard to the documentation required for processing investor service requests.

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