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IBBI suspend Registration of IP for not following true spirit of resolving CD

August 23, 2022 1590 Views 0 comment Print

IBBI suspends registration of IP as decision of liquidation was taken without following true spirit of resolving the CD which is a heart and soul of IBC Code and ignoring interest of other creditors.

Amendment in Compounding procedure of offenses under Customs Act, 1962

August 23, 2022 1548 Views 0 comment Print

Offense under section 135AA of Customs Act made compoundable. Competent authority mandated to grant immunity for such offense

Formulate issues for improving GSTN system: Delhi HC directs STBA

August 22, 2022 4638 Views 0 comment Print

Delhi HC directs STBA to formulate suggestions for improving GSTN system, which, is creating impediments in smooth administration of CGST

New World Realty LLP guilty of profiteering in Tinsel Town Project, Pune

August 22, 2022 675 Views 0 comment Print

Complaint alleged that New World Realty LLP had not passed on the benefit of ITC to him by way of commensurate reduction in prices after implementation of GST w.e.f. 01.07.2017 in respect of Tinsel Town Project, Pune

GST showed in Invoice as SGST/CGST instead of IGST – Shown correctly in E-way Bill- Penalty Imposable?

August 22, 2022 4290 Views 0 comment Print

In the invoice accompanying the goods, the tax paid was shown to be under CGST & SGST, whereas it should have been shown as tax paid towards IGST. However, in the E-way bill accompanying the goods the tax paid was correctly shown as paid towards IGST.

Amount paid by Property Purchaser to Tenant can’t be taxed as gain of owner of capital asset

August 20, 2022 2946 Views 0 comment Print

Amount paid by the buyer to the tenant for the vacation of tenancy should not be taxed in the hands of the owner of the capital asset.

Representation to scrap Clause No. 44 of Tax Audit Report (Form 3CD)

August 18, 2022 15537 Views 3 comments Print

Representation requesting to scrap  Clause No. 44 of  Tax Audit Report (Form 3CD) under the Income Tax Act, 1961

Qualified Suppliers’ for supply of bullion on India International Bullion Exchange

August 18, 2022 2133 Views 0 comment Print

QS-LPTM shall comply with the ‘fit and proper criteria’ specified under regulation 52(2) of the International Financial Services Centres Authority (Bullion Exchange) Regulations, 2020, at all times.

IP shall not engage or appoint any of his relatives or related parties: IBBI

August 18, 2022 2118 Views 0 comment Print

Clause 23B of the Code of Conduct provides that an IP shall not engage or appoint any of his relatives or related parties, for or in connection with any work relating to any of his assignment.

Provisional ADD on UDCA import from China and Korea

August 18, 2022 1800 Views 0 comment Print

CBIC imposes Provisional anti-dumping duty (ADD) on UDCA import from China and Korea vide Notification No. 25/2022-Customs (ADD) | Dated: 18th August, 2022. The provisional anti-dumping duty imposed under this notification shall be effective for a period of six months, unless revoked, amended or superseded earlier, from the date of publication of this notification in the […]

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