Company failed to attach a complete copy of the Director’s Report and Auditor’s Report for financial year 2019-20, resulting in violation of Section 134 & 137 of Companies Act.
Violation of Section 135(6) of Companies Act, 2013 by M/S. Kony India Private Limited as company failed to transfer an unspent amount of Rs. 42,09,263/- to the Unspent Corporate Social Responsibility Account within the specified time frame. The company has since transferred the amount, but a penalty has been imposed. The penalty for the company […]
Section 152(3) of Companies Act, 2013, mandate that an individual cannot be appointed as director unless allocated a DIN as per Section 154
In re Aroma Agrotech Pvt Ltd. (GST AAR Haryana) The applicant is a manufacturer of rice and supplies the goods in the taxable as well as non taxable territory. He has mentioned that there are three types of customers to whom the supply of rice is being made. i. The applicant exports the goods to […]
As per theCompanies Act, 2013, if a company fails to comply with the provisions of Section 137 regarding the filing of financial statements and annual returns within the prescribed timeframe, the Adjudicating Authority (AA) has the power to impose penalties. However, if the company rectifies the default and files the required documents within 30 days […]
AAAR held that Polypropylene Non-woven bags are made from polypropylene which is a type of plastic and merits classification under Chapter Heading 3923 of HSN/Customs Tariff Act, 1975.
The Ifsca Banking Handbook General Directions- V 2.0 (Gen) | 07/06/2022 1. Legal framework i. The International Financial Services Centres Authority Act, 2019 (IFSCA Act) provides the foundation for regulatory framework, under the broad definitions of ‘financial institution’, ‘financial services’ and ‘financial product’, for entities and activities including those related to banking business. ii. Apart […]
CESTAT held that the assistance rendered by the appellants to their member farmers in auctioning their agricultural produce does not tantamount to rendering any service classifiable under ‘Auctioneers’ Service’.
Delhi High Court directs timely adjudication of objections on default tax assessment. Create an online portal, warns against delay. Read the judgment details.
Provision for obsolete stock be allowed as deduction subject to satisfying himself that valuation is done based on principle that at cost or market price or net realizable value, whichever is less.
