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Important decisions taken by ICSI Council on 19.12.2020

December 24, 2020 789 Views 0 comment Print

One more attempt will be granted to the students of Executive & Professional Programme (2012 Old Syllabus) in June 2021 session of Examination. Further, with effect from December 2021 Session of Examinations, all remaining students under Executive and Professional Programmes (2012 Old Syllabus) shall be compulsorily switched over to 2017 New Syllabus.

Govt lays down Rights to Electricity Consumers

December 24, 2020 732 Views 1 comment Print

Union Government for the first time lays down Rights to the Electricity Consumers through’Electricity (Rights of Consumers) Rules, 2020′. Beginning of an era of empowering Power Consumers in a paradigm shift bringing Consumers to Centre Stage : Shri R K Singh

‘Committee of Creditors’ may consider revised Resolution Plan

December 23, 2020 1335 Views 0 comment Print

Jay Overseas Pvt. Ltd. Vs George Samuel (NCLAT Delhi) The Learned Counsel are not disputing that Respondent No. 2 is ‘Committee of Creditors’ having 100% voting right. The Learned Counsel for Respondent No. 2 submits that if this Hon’ble Tribunal directs the Respondent No. 2 is ready to consider the revised Resolution Plan (Annexure P/6). […]

Section 54 deduction eligible on investment in house purchased abroad within stipulated time u/s 139(4)

December 23, 2020 2205 Views 0 comment Print

Joseph K. Zachariah Vs ACIT (ITAT Bangalore) Section 54(2) of the Act has two conditions for availing deduction u/s 54(1) of the Act. Firstly, the assessee has to utilize the capital gain in purchase of new property before the due date of furnishing the return of income u/s 139 of the Act, which encompasses sub-section […]

Central Goods and Services Tax (Fourteenth Amendment) Rules, 2020

December 22, 2020 106335 Views 0 comment Print

(1) These rules may be called the Central Goods and Services Tax (Fourteenth Amendment) Rules, 2020. (2) Save as otherwise provided in these rules, they shall come into force on the date of their publication in the Official Gazette.

Late fees for delay in furnishing of FORM GSTR-4 waived for Ladakh dealers

December 22, 2020 1338 Views 0 comment Print

Late fee payable for delay in furnishing of FORM GSTR-4 for the Financial Year 2019-20 under section 47 of the said Act, from the 1st day of November, 2020 till the 31st day of December, 2020 shall stand waived for the registered person whose principal place of business is in the Union Territory of Ladakh. […]

Amendment in Export Policy of Medical Goggles & Nitrile/NBR Gloves

December 22, 2020 921 Views 0 comment Print

The export policy of Medical Goggles and Nitrile/NBR Gloves is amended from ‘Restricted’ to ‘Free’ category making all types of Medical Goggles and Nitrile/ NBR Gloves freely exportable.

HC directs department to refund Service Tax Recovered in excess of amount approved by resolution plan

December 22, 2020 1692 Views 0 comment Print

GGS Infrastructure Private Limited Vs Commissioner of CGST & Central Excise (Bombay High Court) Once a resolution plan is approved by the committee of creditors by the requisite percentage of voting and the same is thereafter sanctioned by the adjudicating authority (Tribunal in this case), the same is binding on all the stakeholders including the […]

Mere Balance Sheet entries not amounts to acknowledgment of Debt under Limitation Act

December 22, 2020 4578 Views 0 comment Print

Section 18 of the Limitation Act, 1963 would have no application to proceedings under I&B Code. Therefore, the issue raised as regards acknowledgement of liability by reflection in the Balance Sheet/ Annual Return would be irrelevant.

Anti-Dumping Investigation concerning imports of ‘Phenol’ from South Africa

December 22, 2020 489 Views 0 comment Print

Case No. SSR-13/2019 Sunset Review of Anti-Dumping Investigation concerning imports of ‘Phenol’ originating in or exported from South Africa. The Authority had initiated the original investigation concerning imports of Phenol originating in or exported from European Union (EU), Singapore and South Africa vide Notification No.14/4/2002-DGAD dated 15th February, 2002.

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