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Advance ruling application not admittable if applicant is not supplier

November 20, 2019 753 Views 0 comment Print

The applicant is not engaged in the manufacture and supply of ENA presently. The representatives were asked to submit as to why the applicant is seeking advance ruling on this issue in view of the fact that advance ruling is binding only on the takpayer who has sought it. They were told that a ruling on this issue will not help the applicant in any way as he is not the supplier of the same.

SEBI proposes Issuance of SEBI (Portfolio Managers) Regulations, 2019

November 20, 2019 1248 Views 0 comment Print

The salient features of the proposed SEBI (Portfolio Managers) Regulations, 2019 are: 1. To enhance the eligibility criteria and to define the role of Principal Officer clearly. The enhanced eligibility criteria to be applicable to any employee with decision making authority relating to management of the clients’ portfolios.

Cross border Transactions and Investments (2019)

November 19, 2019 1752 Views 0 comment Print

India is now one of the front runners among the developing countries for attracting FDI. Its strong and stable growth and commitment to institutional reforms has made it one of the most attractive destinations for FDI. Cross border flow of capital, human resource and technology has increased manifold over the period of time, which in […]

Technical Guide on Expatriates Taxation (Revised 2019 edition)

November 19, 2019 2520 Views 0 comment Print

Continuous and rapid global integration has impacted the economies of different countries differently and in a positive manner. Consequently, knowledge, experience and skills of human capital have also been seamlessly shared, which in turn has placed expatriate employees in the most vital position. The income of an inbound expatriate or an outbound expatriate is taxable […]

Gurugram Builder found guilty of not passing ITC Benefit to Flat Buyers

November 19, 2019 2271 Views 0 comment Print

NAA carefully considered the Report of the DGAP, submissions made by the Respondent and based on the record it is revealed that the above Applicants had purchased flats from the Respondent in his Green Court project situated in Sector 90, Gurugram, Haryana which was got approved by him under the Affordable Housing Policy-2013 of the Government of Haryana.

MCA notifies Department of Biotechnology (DBT) for CSR

November 19, 2019 2079 Views 0 comment Print

MCA further amends Schedule VII of the Companies Act, 2013 which relates to Activities which may be included by companies in their Corporate Social Responsibility Policies and included contribution to Department of Biotechnology (DBT) in Expenses under Section 135 of Companies Act, 2013. MINISTRY OF CORPORATE AFFAIRS CORRIGENDUM New Delhi, the 19th November, 2019 G.S.R. […]

Technology a key game changer in Financial Services

November 19, 2019 813 Views 1 comment Print

Technology is a key game changer in financial services as it can not only provide fast and better services to the consumer, it can also be a catalyst in improving the ease of doing business, said Shri Ajay Tyagi, Chairman, SEBI while participating in a panel discussion on Technology in Financial Services at Singapore on November 16, 2019.

How to Unblock the GSTIN for generation of e-waybill

November 19, 2019 13422 Views 0 comment Print

The user will be alerted while generating e-waybills in case the entered GSTIN has not filed the Returns for the past 2 successive months as this GSTIN will be blocked for generation of e-way bills .

Exposure Drafts of Guidance Note on ICSI Auditing Standards

November 18, 2019 705 Views 0 comment Print

THE INSTITUTE OF Company Secretaries of India IN PURSUIT OF PROFESSIONAL EXCELLENCE Statutory body under an Act of Parliament (Under the jurisdiction of Ministry of Corporate Affairs) EXPOSURE DRAFTS OF GUIDANCE NOTE ON ICSI AUDITING STANDARDS FOR PUBLIC COMMENTS (Last date for submission of comments: 5th December, 2019) The Institute of Company Secretaries of India […]

Bombay HC refers matter of 10% Mandatory deposit under MVAT to Larger Bench

November 18, 2019 13428 Views 0 comment Print

The petitioners are aggrieved by the refusal of registration of their appeals filed under the Maharashtra Value Added Tax Act since they have not deposited the ten per cent of the disputed amount now mandated under the amended provision of Section 26 of the Act. They have challenged the validity of the amended provisions and the legislative competence of the State.

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