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Provisions under IBC, 2016 relating to Personal Guarantors to corporate debtors notified

November 15, 2019 1353 Views 0 comment Print

Notification of provisions under Insolvency and Bankruptcy Code, 2016 relating to Personal Guarantors to corporate debtors MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 15th November, 2019 S.O. 4126(E).―In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints […]

HC found 41 questions/answers out of 100 wrongly framed

November 15, 2019 5538 Views 0 comment Print

Kumar Saurav Vs State of Chhattisgarh (Chhattisgarh  High Court) Out of 100 questions, as much as 41 questions/answers have wrongly been framed. Re-examination ordered. Carelessness will always have a price. Considering the degree and percentage of defects in the question papers which according to this Court as much as 41 wrong questions/answers have been found […]

Insolvency and Bankruptcy (Application to Adjudicating Authority for Bankruptcy Process for Personal Guarantors to Corporate Debtors) Rules, 2019

November 15, 2019 936 Views 0 comment Print

Insolvency and Bankruptcy (Application to Adjudicating Authority for Bankruptcy Process for Personal Guarantors to Corporate Debtors) Rules, 2019 MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 15th November, 2019 G.S.R. 855(E).—In exercise of the powers conferred by sub-section (1) and clauses (p), (q), (r), (s), (t), (u), (v), (w), (x), (y), (z), (za), (zb) and […]

Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019

November 15, 2019 4161 Views 0 comment Print

Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019 MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 15th November, 2019 G.S.R. 854(E).—In exercise of the powers conferred by sub-section (1), clauses (g), (h), (i), (m), (n) and (o) of sub-section (2) of section 239 read […]

No interest demandable for delay in GST credit to Govt Account

November 14, 2019 12003 Views 0 comment Print

Messrs Vishnu Aroma Pouching Pvt. Ltd. Vs Union of India (Gujarat High Court) In this case petitioner had duly discharged the tax liability of August, 2017 within the period prescribed therefor; however, it was only on account of technical glitches in the System that the amount of tax paid by the petitioner for August 2017 […]

Modifications in contract specifications of commodity derivatives contracts

November 14, 2019 576 Views 0 comment Print

In order to streamline the process and after consultation with the exchanges, it has been decided to categorise the modifications in contract specification parameters in the following three categories:

AAAR ruling on Value to be adopted for supply to distinct person

November 13, 2019 3861 Views 0 comment Print

In re Specsmakers Opticians Private Limited (GST AAAR Tamil Nadu) The issue before us relates to determination of value to be adopted in respect of supply to distinct persons of the appellant in the course of business. appellant, has claimed before the Lower Authority that applying the Second Proviso to Rule 28 of CGST Rules […]

Export benefit not deniable for mere technical lapse

November 13, 2019 1338 Views 0 comment Print

MEIS benefit available even if concerned box not checked in shipping bill: In a case where the exporter did not check the concerned box in the shipping bill to read ‘Yes’ against the query with regard to intention to claim MEIS benefit, but in the column meant for description had clearly indicated his intention to avail the benefit of the said export promotion scheme, Kerala High Court has directed the department to consider claim for benefit under MEIS.

Notification of ITC (HS), 2017 – Schedule-1 (Import Policy)

November 13, 2019 8778 Views 0 comment Print

Central Government hereby notifies the Exim codes introduced / deleted /split / merged / changed in description vide the Finance (No. 2) Act, 2019 dated 1st August, 2019 in the ITC (HS), 2017 as Annexed to this Notification.

Compliance with provisions of Section 12 of Insolvency and Bankruptcy Code, 2016

November 11, 2019 2715 Views 0 comment Print

You are hereby called upon to confirm that as on 14th November, 2019, (a) you do not have an ongoing CIRP, which is not completed within 330 days from the insolvency commencement date (second proviso to section 12 of the Code)

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