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Section 54F exemption cannot be denied merely because bills & vouchers were not produced

December 18, 2018 2499 Views 0 comment Print

Shri Govind Gangadhar Sabane Vs ITO (ITAT Pune) There is no dispute to the fact that one capital asset was sold and thereafter, new house was constructed. That both the Revenue Authorities in their respective orders have agreed that the Inspector had visited the site and has reported that residential house has been constructed consisting […]

DGFT permit PUF panels/doors, furniture & fixtures under EPCG Scheme

December 18, 2018 2352 Views 0 comment Print

Imports of PUF panels/doors for chilled Rooms/cold storages and furniture and fixtures etc. for hospitals are allowed under the EPCG. Public Notice No. 61/2015-20

Companies (Registration of Charges) Second Amendment Rules, 2018

December 18, 2018 2091 Views 0 comment Print

MCA has introduced Revised eForm CHG-4 -Particulars for satisfaction of charge vide Companies (Registration of Charges) Second Amendment Rules, 2018. eForm CHG-4 is required to be filed pursuant to Section 82(1) of the Companies Act, 2013 and Rule 8(1) of Companies (Registration of Charges) Rules, 2014. Government of India MINISTRY OF CORPORATE AFFAIRS Notification New […]

Draft amendment to rule 8 of Companies (Incorporation) Rules, 2014 – Name Availability

December 18, 2018 5076 Views 0 comment Print

Names which resemble too nearly with the name of an existing company. (1) A name applied for shall be deemed to resemble too nearly with the name of an existing company, if, and only if, after comparing the name applied for with the name of an existing company by disregarding the matters set out in sub-rule (2), the names are same.

3 Years Imprisonment to then Central Excise Inspector in Bribery Case

December 18, 2018 1470 Views 0 comment Print

The Special Judge, North Goa has convicted Sh. Nilesh Thakur, then Inspector, Central Excise, Goa in a bribery case and sentenced him to undergo three years Simple Imprisonment with fine of Rs. 40,000/-. The Commissioner, GST, Goa has dismissed Sh. Nilesh Thakur, then Inspector from service.

MEIS benefit on Sal / Kokam Oil & Mango Butter (cultivated) notified

December 17, 2018 978 Views 0 comment Print

Sal Oil, Kokam Oil and Mango Butter (cultivated) have been made eligible for MEIS benefits at the rate of 5% for exports made with effect from the date of publication of this Public Notice.

West Bengal Taxation Laws (Amendment) Act, 2018

December 17, 2018 2505 Views 0 comment Print

(1) This Act may be called the West Bengal Taxation Laws (Amendment) Act, 2018. (2) Save as otherwise provided, this section shall come into force with immediate effect, and the other provisions of this Act shall come into force on such date as the State Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision.

SEBI proposes Early Warning Mechanism to prevent diversion of client securities

December 17, 2018 1683 Views 0 comment Print

There have been instances where stock brokers had diverted clients’ securities received as collaterals towards margin obligations and / or settlement obligations, for raising loan against shares on their own account and / or for meeting securities shortages in settlement obligations on its own account.

SEBI Reviews risk management framework for Equity Derivatives Segment

December 17, 2018 999 Views 0 comment Print

The Principles for Financial Market Infrastructures (PFMI) inter alia prescribe that a central counterparty (CCP) should identify and consider a number of elements, including Margin Period of Risk (MPOR) or close-out period, when constructing an appropriate margin system to address risks that arise from the products cleared. T

Increased customs duty on specified imports postponed to 31.01.2019

December 15, 2018 1422 Views 0 comment Print

 CBIC Seeks to further postpone the implementation of increased customs duty on specified imports originating in USA from 17th December, 2018 to 31st January, 2019. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 80/2018-Customs New Delhi, the 15th December, 2018 G.S.R. 1212(E).- In exercise of the powers conferred by sub-section (1) of section […]

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