Recently Gujarat High Court ([TS-858-HC-2018(GUJ)-NT-Torrent Power Ltd]) has held that when a company is engaged in the business of supply and distribution of electric power which is principal supply, the ancillary and related supply such as application fee for release of connection, meter testing … [Read more...]
GST Update on whether dual investigation proceedings can be initiated by different authorities against the assessee?
This update intends to discuss about the issues in cross empowerment of both the Central and the State tax authorities for enforcement of intelligence based action against the taxpayer. It has been clarified vide Letter D.O.F. No. CBEC/20/43/01/2017-GST (P.T.) dated 5th October 2018 that officers of … [Read more...]
GST Update On Applicability of GST On Remuneration Paid To Directors
The litigation as regards liability of the company to pay tax under reverse charge mechanism on payments made to its directors is not new and is continuing from the erstwhile service tax regime. The legacy has been travelled into the GST regime and various pronouncements rendered by Authority for … [Read more...]
Update on Refund Amendments made in recent notifications issued?Part 2
We are analysing the provisions of Notification no. 16/2020 - CT dt. 23.03.2020. One update is already forwarded to you. This is the second part on the same notification. Certain important amendments have been made in connection with refunds, in the CGST Rules, 2017, which are explained in this … [Read more...]
CSR Committees and its Meetings
Corporate Social Responsibility (CSR): Corporate social responsibility refers to the initiative and contribution of an enterprise towards the economic, environmental and social welfare of the general community. In this article, we look at some of the major aspects of CSR committees and its … [Read more...]
Procedure for Seeking Extension of Date for Holding of Annual General of the Company
Section 96 of the Companies Act, 2013 provides that every company other than a one person company shall in each year hold an Annual General Meeting of its shareholders and not more than fifteen months shall elapse between the date of one annual general meeting of the company and that of the … [Read more...]
GST Update on Notification Issued for GST Rate on Real Estate Sector w.e.f. 01.04.2019 Part-1
The much awaited notifications with respect to GST Council’s decision as regards prescribing new GST rates for real estate sector being 1% without ITC for affordable residential housing and 5% without ITC for non-affordable residential housing have been released by the Government yesterday. The … [Read more...]
Note on 6% Presumptive Scheme under GST
The Central Board of Indirect Taxes (CBIC) has notified a New Scheme in GST vide Notification No. 2/2019 Central Tax (Rate), dated March 7, 2019 in which a tax payer has been allowed to pay GST on a presumptive basis at the rate of 6% (3% CGST and 3% SGST/UTGST). It is a new scheme (herein after … [Read more...]
Activation of DIN Of Disqualified Directors: Writ Petition And Interim Stay Order
In the year 2017, Ministry of Corporate Affairs by taking the ambit of Section 248 which talks about “Power of Registrar to remove name of company from register of companies” struck off more than 2 lakh companies which were not filing its returns for the last many years and the Government was of the … [Read more...]
The Banning of Unregulated Deposit Schemes Ordinance 2019
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