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Procurer can stipulate technical specifications/ conditions in tender document as per his requirements: CCI

May 6, 2022 936 Views 0 comment Print

Swastik Road Carrier Vs Central Railside Warehouse Company Limited (Competition Commission of India ) On perusal of the Information, the Commission observes that the Informant is primarily aggrieved by the conduct of OP in disqualifying and rejecting its bid in the first tender on the ground of “conflict of interest” and thereafter again providing for […]

Multiple Ways to establish Veracity of Aadhaar: UIDAI

May 6, 2022 516 Views 0 comment Print

The issue of how to verify the genuineness of an Aadhaar card is often faced by organizations, when they are presented to them as a proof of identities. Unique Identification Authority of India (UIDAI) has stated that the veracity of ‘Aadhaar’ can be easily established both in an online and offline mode as mentioned below: […]

CBI Arrests An IRP of NCLT In A Bribery Case

May 6, 2022 1305 Views 0 comment Print

Central Bureau of Investigation has arrested an Interim Resolution Professional (IRP), National Law Tribunal (NCLT), Mumbai and two private persons including Proprietor of Mumbai based firm in a  bribery case of Rs. Two Lakh.

ITAT explains Tax on renouncement of Rights Shares In Favour of Assesse

May 6, 2022 20814 Views 0 comment Print

Jigar Jashwantlal Shah Vs ACIT (ITAT Ahmedabad) Now, we shall deal with the issue of whether section 56(2)(vii)(c) of the Act can be invoked in respect of additional 82,200 shares received by the assessee since the assessee’s wife and father did not exercise the rights issue and renounced the right in favour of the assessee. […]

GST on Composite Supply of hospital construction works for Govt Entity

May 6, 2022 3291 Views 0 comment Print

 In re KPC Projects Ltd. (GST AAR Maharashtra) From the submissions made by the applicant, we find that in the instant case there is Composite supply of works contract provided to UPRNN, a Government Entity by way of construction of a clinical establishment i.e. a hospital.  However we also find that, the above mentioned Rate […]

GST on Royalty, MMDR, DMF Fund & Reserve Price paid directly to Government

May 6, 2022 3111 Views 0 comment Print

In re Baranj Coal Mines Private Limited (GST AAR Maharashtra) In the subject case, we find that the applicant (supplier of service) and KPCL (recipient of service) are not related persons and price is the sole consideration for the supply. Further, from Article 6.1.3 and Article 29.1.2 of the Mining Agreement it is clear that […]

LoA of Plastic Recycling units in SEZs and EOUs extended for 5 years

May 5, 2022 1119 Views 0 comment Print

LoA of the Plastic Recycling units in SEZs and EOUs may be extended for 5 years by the Board of Approval subject to fulfillment of other conditions/norms. Other conditions of the Policy Guidelines dated 27.05.2021 in respect of Plastic recycling units will remain unchanged.

MCA Designates Special Courts at ‘Ranchi’ under Company Law

May 5, 2022 987 Views 0 comment Print

Chief Justice of High Court of Jharkhand, designates Court of Additional Judicial Commissioner, Ranchi in Jharkhand as Special Court for providing speedy trial of offences punishable with imprisonment of two years or more as per section 435(2)(a) of Companies Act, 2013. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 5th May, 2022 S.O. 2099(E).—In exercise […]

RBI Increase Policy Rates by 40 basis Points- Read Notifications

May 4, 2022 2928 Views 0 comment Print

RBI notification on change in Cash Reserve Ratio (CRR) from 4.00 percent to 4.50 percent, Change in Bank Rate from 4.25 per cent to 4.65 per cent, Change in Liquidity Adjustment Facility (LAF) to 4.40 per cent from 4.00 per cent, change in standing deposit facility (SDF) rate from 3.75 per cent to 4.15 per cent […]

India’s Services exports set a new record of USD 254.4 Billion

May 4, 2022 1251 Views 0 comment Print

India’s Services exports set a new record of USD 254.4 Billion in FY 2021-2022, beats previous high of USD 213.2 Billion in 2019-20 Services exports hit an all-time monthly high of USD 26.9 Billion in March 2022 Telecommunications, computer, and information services, other business services and Transport top contributors in Services exports India’s overall exports […]

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