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

March 10, 2023 32880 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 116349 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 3783 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 6612 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.

CESTAT e-Filing Software User Manual

March 9, 2023 5613 Views 0 comment Print

CESTAT e-Filing Software User Manual explains about New User Registration, User Home Page Navigation, Filing,  (Petition/Appeal) Filing – Petitioner, Application Filing – Petitioner/Respondent and Document Filing (Additional Document Upload on cestat.etribunals.gov.in/. User Registration 1. Click on ‘New User’ button for registration on e-Filing website – cestat.etribunals.gov.in/ 2. New User Registration page: For trial e filing […]

Interest U/s. 73 & 74 attracted only on wrong availment & utilisation of such ITC

March 9, 2023 5472 Views 0 comment Print

Under Sections 73(1) and 74(1) of CGST Act, proceedings can be initiated for mere wrong availing of Input Tax Credit followed by imposition of interest penalty if such credit was not only availed but also utilised for discharging tax liability.

Linking of PAN with Aadhaar to be done by March 31, 2023

March 8, 2023 3195 Views 0 comment Print

Every person who has been allotted a PAN to intimate Aadhaar Number to prescribed authority so that Aadhaar & PAN can be linked by 31.03.2023

Penalty imposed on company for not disclosing in Final statement regarding POSH Act 2013

March 8, 2023 2916 Views 0 comment Print

As per Rule 8 and 8A of the Companies (Accounts) Rules, 2014 other than one person Company or small company shall give a statement that the company has complied with the provisions relating to the constitution of Internal Complaint under the Sexual Harassment of women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 to be made with effect from 31.07.2018.

Mere wrong mention of section not fatal to addition

March 8, 2023 3564 Views 0 comment Print

Unexplained bank deposits cannot be considered under Section 68 and it falls under Section 69A. However, mentioning a wrong section by AO is not fatal.

No service tax on Road Construction Services to Government

March 8, 2023 4551 Views 0 comment Print

Apollo Construction Projects’ service tax dispute with ONGC, GWSSB, and AUDA. CESTAT Ahmedabad sets aside tax demand on road construction services provided to GWSSB and AUDA.

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