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First Time Dual Income Tax Rates For Individuals in Income Tax

June 3, 2020 3618 Views 0 comment Print

Every time the Finance Minister makes the changes in the Income Tax at the time of presentation of annual budget proposals. This year a historical change is announced by the Finance Minister along with the various provisions that keep changing in the Budget, 2020. A new section (Section 115BAC) is added in the Income Tax […]

HC directs GSTN for migration/transition of credit

June 3, 2020 1164 Views 0 comment Print

The petitioner states that since no provisional ID was received from GSTN, it proceeded to utilise an ID using random units that, admittedly, has no basis and was defective. Using this ID, business was conducted during the period 01.07.2017 to 21.08.2017 and credit was also earned.

Consultation paper on proposed amendment to delisting regulations: Will it be a case of “many a slip between the cup and the lip”?

June 2, 2020 5364 Views 0 comment Print

Traditionally, a listed company (Parent Co) wishing to integrate the operations of its listed subsidiary (Sub Co), usually contemplates a merger. However, there may be instances in which a merger is unfeasible for a plethora of reasons, viz.,industry-specific constraints (e.g. licences or contracts with specific restrictions on transfer), cultural differences with an acquired entity, etc. […]

Passport Authorities cannot Impose Penalties : Kerala HC

June 2, 2020 6210 Views 0 comment Print

Passport authorities under the Passports Act, 1967 are not vested with any power under Section 12 of the Act 1967, to impose any fine and it is a matter affecting the public.

Draft Unmanned Aircraft System Rules, 2020

June 2, 2020 1770 Views 0 comment Print

(1) These rules may be called the Unmanned Aircraft System (UAS) Rules, 2020. (2) They extend to the whole of India and shall apply also (unless the contrary intention appears) – (a) to UAS registered in India, wherever they may be; or (b) to a person owning or possessing or engaged in importing, manufacturing, trading, leasing, operating, transferring or maintaining a UAS in India; or (c) to all UAS for the time being in or over India;

HC imposes Penalty for not following social distancing during Marriage

June 2, 2020 4431 Views 0 comment Print

Renu Devi and another Vs State of Punjab and others (Punjab & Haryana High Court) Perusal of the photographs attached with the petition, shows that at the time of marriage ceremony, the petitioners and other attending persons were not wearing the masks, which is otherwise necessary in view of COVID-19 pandemic. Accordingly, the petitioners are […]

GST on mounting of Bus/Truck Body by job worker on chassis supplied by principle

June 2, 2020 3501 Views 0 comment Print

In re V E Commercial Vehicles Limited (GST AAR Madhya Pradesh) Whether mounting of Bus/ Truck Body by the job worker on the chassis supplied by the principle for which the applicant charged fabrication charges including cost of certain material that was consumed during the process of job work would be classified as supply of […]

Corrigendum to MVAT Trade Circular 09T of 2020 Dt 26.05.2020

June 2, 2020 7698 Views 0 comment Print

Office of the Commissioner of State Tax Maharashtra State, 8th Floor, GST Bhavan, Mazgaon, Mumbai-400 010. CORRIGENDUM No. JC (HQ)-1/GST/2020/Appeal/ADM-8 dated 2nd June 2020. Corrigendum to Trade Circular No. 9T of 2020. To, Subject: Corrigendum to Trade Circular 09T of 2020 Dt 26th May 2020. Ref: (1) This office Trade Circular 09T of 2020 Dt […]

Govt temporarily reduce import duty on Lentils (Mosur) till 31.08.2020

June 2, 2020 888 Views 0 comment Print

Seeks to further amend notification No. 50/2017-Cus dated 30.06.2017 so as to temporarily reduce the import duty on Lentils (Mosur) till 31st Aug 2020 vide Notification No. 26/2020-Customs Dated 2nd June, 2020 MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 2nd June, 2020 Notification No. 26/2020-Customs G.S.R. 341(E).—In exercise of the powers conferred […]

IBBI suspends registration of IP for 3 Month for negligence during CIRP

June 2, 2020 1470 Views 0 comment Print

During the personal e-hearing, IP submitted that the errors committed by him during CIRP were bonafide mistakes and not intentional. DC observes that IP displayed a negligent approach during the conduct of CIRP

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