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Steel manufacturers allowed to claim Duty Drawback

October 1, 2020 1002 Views 0 comment Print

 Steel manufacturers can also claim Duty Drawback on steel supplied through their Service Centers/ Distributors/ Dealers/ Stock yards. Notification No. 35/2015-2020-DGFT dated 1st October, 2020 Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhavan, New Delhi ******* Notification No. 35/2015-2020-DGFT Dated the 1st October, 2020 Subject: […]

SEBI relaxes timelines for compliance with regulatory requirements

October 1, 2020 972 Views 0 comment Print

In view of the prevailing situation due to Covid-19 pandemic and representation received from the Stock Exchanges, it has been decided to further extend the timelines for compliance with the regulatory requirements by the trading members / clearing members, mentioned in the SEBI circulars, as under:

Section 83 powers cannot be exercised without forming an opinion based on relevant material

October 1, 2020 939 Views 0 comment Print

Meenakshi Trendz through Its Partner Ratan Kumar Saraf Vs State of Gujarat (Gujarat High Court) Section 83 talks about the opinion which is necessary to be formed for the purpose of protecting the interest of the government revenue. Any opinion of the authority to be formed is not subject to objective test. The language leaves […]

Section 153C Assessment has to be based on material found in the course of search which relates/belongs to Assessee

September 30, 2020 6894 Views 0 comment Print

Sree Lakshmi Vs DCIT (ITAT Bangalore) We have already examined the legal position with regard to validity of initiation of proceedings u/s. 153C of the Act de hors incriminating material found in the course of search which belong or relate to the assessee. Admittedly, no such incriminating material was found in respect of any of […]

Section 171(3A) profiteering Penalty cannot be imposed retrospectively: NAA

September 30, 2020 384 Views 0 comment Print

Since, no penalty provisions were in existence between the period w.e.f. 01.07.2017 to 31.12.2018 when the Respondent had violated the provisions of Section 171 (1) of the CGST Act, 2017, the penalty prescribed under Section 171 (3A) cannot be imposed on the Respondent retrospectively.

Renting of e-bikes/bicycles without operator cannot be classified under SAC 9973

September 30, 2020 3786 Views 0 comment Print

In re Yulu Bikes Pvt. Ltd. (GST AAR Karnataka) Renting of e-bikes/bicycles without operator cannot be classified under SAC 9973 – Leasing or rental services without operator and Sl.no. 17(viia) of Notification no. 11/2017 CT(R) dated 28th June 2017 as amended is not applicable to the instant case. Read AAAR Order- Renting of e-bikes/bicycles without […]

7 Due dates extended by MCA to 31st December, 2020

September 29, 2020 13329 Views 5 comments Print

Extension of due dates for various Schemes, Registration as Independent Director, DIR-3 KYC, holding EGM, till 31st December, 2020 by the Government of India

IEPF e-forms filing due date extended till 31st December 2020

September 29, 2020 2580 Views 0 comment Print

MCA enabled filing of various IEPF e-forms (IEPF -1, IEPF- I A, IEPF-2, IEPF-3, IEPF-4, IEPF-7) and e-verification of claims filed in e-form IEPF-5 without additional fees till 31st December 2020

Financial difficulties cannot be a ground for non/delayed payment of wages

September 29, 2020 3657 Views 0 comment Print

Hind Kamgar Sanghatana  Vs. State of Maharashtra (Bombay High Court) Payment of due wages to a workman is a statutory right under section 5 of the Payment of Wages Act &  is a fundamental right of a worker under Article 21 of the Constitution. Financial difficulties of employer cannot be a ground for non-payment or […]

President assent ‘The Code on Social Security, 2020’

September 29, 2020 2271 Views 0 comment Print

(1) This Act may be called the Code on Social Security, 2020. (2)  It extends to the whole of India. (3)  It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint; and different dates may be appointed for different provisions of this Code and any reference in any such provision to the commencement of this Code shall be construed as a reference to the coming into force of that provision.

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