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Bogus GST ITC- HC rejects bail to prevent Tampering of Evidence

August 18, 2020 1791 Views 0 comment Print

Mr. Ashok Kumar Vs Commissioner CGST & Central Excise (Bombay High Court) Taking into consideration, the facts of the case, though the officers under the CGST Act, cannot seek custody of the arrested persons for completing the investigation, respondent’s contention that applicant’s detention in custody is necessary to prevent him from causing the evidence of […]

RBI releases framework for authorisation of pan-India Umbrella Entity for Retail Payments

August 18, 2020 888 Views 0 comment Print

Reserve Bank has today placed on its website, the ‘framework for authorisation of pan-India Umbrella Entity for Retail Payments’. The framework has been released after due deliberations on the comments / feedback received on the ‘draft framework for authorisation of a pan-India New Umbrella Entity for Retail Payment Systems’ which was placed on Reserve Bank’s website on February 10, 2020 inviting public comments.

CCI dismisses Plea Alleging Dominant Position abuse by Whatsapp & Facebook

August 18, 2020 1722 Views 0 comment Print

Harshita Chawla Vs. WhatsApp Inc. & Facebook Inc. (Competition Commission of India) As regards the allegation of leveraging, the Commission does not agree with the Informant for reasons cited supra while dealing with the allegation under Section 4(2)(d) of the Act. The Informant has contended that WhatsApp will leverage its dominance in the upstream market […]

File GNL-1 for seeking extension of time in holding of AGM

August 17, 2020 25029 Views 0 comment Print

MCA has not given any extension for holding of AGM for the financial year ended as at 31.03.2020 and has only allowed holding of annual general meeting (AGM) through video conferencing (VC) or other audio visual means (OAVM). MCA has now clarified as below- 1. Companies can use relaxations in General Circular No. 20/2020, dated […]

HC imposes cost on Punjab National Bank for frivolous litigation

August 17, 2020 3981 Views 0 comment Print

Punjab National Bank Vs. Mithilanchal Industries Pvt. Ltd. (Gujarat High Court) In the present case, the borrower took an objection of non-compliance of sub-section (3), in his objection / representation given sub-section (3A), but despite the same the Bank – Secured Creditor in the present case rejected the objection instead of ensuring the compliance of […]

CBDT notifies New Rule 2DB & 2DE – Pension fund- Section 10(23FE)

August 17, 2020 2460 Views 0 comment Print

CBDT, vide Notification No.67/2020 dated 17th August, 2020, has prescribed the procedure for notification of Pension Funds (PF) for claiming exemption under section 10(23FE) for income from investment made in specified infrastructure business: CBDT notifies New Income Tax Rule  2DB. – Other conditions to be satisfied by the pension fund and Rule 2DC. -Guidelines for […]

Special Warehouse (Custody and Handling of Goods) Amendment Regulations, 2020

August 17, 2020 1089 Views 0 comment Print

(1) These regulations may be called the Special Warehouse (Custody and Handling of Goods) Amendment Regulations, 2020. (2) They shall come into force on the date of their publication in the Official Gazette.

Manufacture and Other Operations in Warehouse (no. 2) Amendment Regulations, 2020

August 17, 2020 648 Views 0 comment Print

(1) These regulations may be called the Manufacture and Other Operations in Warehouse (no. 2) Amendment Regulations, 2020. (2) They shall come into force on the date of their publication in the Official Gazette.

Manufacture and Other Operations in Special Warehouse Regulations, 2020

August 17, 2020 1773 Views 0 comment Print

(1) These regulations may be called the Manufacture and Other Operations in Special Warehouse Regulations, 2020. (2) They shall come into force on the date of their publication in the Official Gazette.

Anti-Dumping investigation concerning imports of Flax Fabric- Reg.

August 17, 2020 513 Views 0 comment Print

Sunset Review of Anti-Dumping investigation concerning imports of Woven Fabric (having more than 50% Flax content) commonly known as “Flax Fabric” originating in or exported from China PR & Hong Kong.

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