News/Notificaton

Supreme Court held that the corporate debtor must fulfill requirements under sub-section (2) and (4) of section 43 and exception under section 43(3) , filing which it would be adjudged as a preference

Legal

Hon'ble Justice C Hari Shankar, stated that there is a qualitative difference between marital and non-marital rape. unlike live-in and other relationships, there is a legitmate expectation by a spous

Legal

On February 4th, 2022, a Private Member Bill was introduced in Rajya Sabha, by CPI(M) leader Elamaram Kareem to repeal the four new Labour Codes being Opposed by Trade Union Leaders and Labour Law sch

Legal

Public Authority who is the custodian of the record and the designated Public Information Officer is required to provide information deriving from the custody of the Public Authority, and that is the

Legal

The Calcutta High Court on Friday observed that the provisions for disqualification of directors due to non-filing of balance sheets and annual returns as envisaged under Section 164(2) and Section 16

Legal

To protect the interests of the public and prevent possible illegal fundraising activities, the government has amended the rules governing Nidhi companies whereby its prior declaration will be compuls

Business Related

The Madras High Court bench of Justice C. Saravanan held that the taxpayer is liable to pay interest if there is a belated payment of tax declared in the returns filed.

GST Related

The Delhi Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has quashed the service tax demand and penalty and held that the freight charges incurred for transportation of goods

Taxation

The Delhi High Court has held that the petitioner's real intent was to ensure that gift tax is not levied on donee.

Taxation

Section 9 petition on the grounds of the Corporate Debtor being a solvent company, operating as a 'going concern' and is also an MSME enterprise providing employment and generating revenue.

Registration

MCA site to remain disabled from 15.08.2022 to 31.08.2022 for Company related forms filing.

Compliance

The Lok Sabha has passed the Bill to amend the Energy Conservation Act, 2001, to reduce fossil fuel-based energy consumption and resultant carbon emissions to the atmosphere.

Legal

The Central Board of Direct Taxes (CBDT) has notified the conditions for an income tax deduction for expenditure on COVID-19 treatment.

Taxation

The new rule will have an effect on GST-registered tenants. For example, if a company takes a guesthouse for rent then the company has to pay 18% GST.

GST Related

The Kolkata Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that the activity of a mediator cannot fall under business consultant services.

GST Related

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that interest payment on late payment of TDS is not an eligible business expenditure for deduction.

Taxation

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT)has allowed the deduction of the penalty levied by the for a shortfall in margin money.

Banking/Loans

The AAR has ruled that the manpower supply or labor supply services by the manpower supply agency fall under SAC 98519 and are taxable at the rate of 18%.

GST Related

The Central Board of Indirect Taxes and Customs (CBIC) has issued guidelines for arrest and bail in relation to offenses punishable under the Central Goods & Services Tax Act, 2017 (CGST Act).

GST Related

The Central Board of Indirect Taxes and Customs (CBIC) has notified a 15% Customs Duty on the display assembly of a cellular mobile phone.

Taxation

The Allahabad High Court has imposed a cost of Rs. 50,000 for the arbitrary cancellation of GST registration.

GST Related

The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) has held that customs duty is allowable only on a payment basis under section 43B of the Income Tax Act.

Taxation

The Karnataka Authority of Advance Ruling (AAR) has held that the GST is not payable on services provided to the horticulture department for cleaning and sweeping of lawns.

GST Related

The (ITAT) has held that the compensation received in respect of an award or agreement has been exempt from the levy of income tax as per section 96 of the Right to Fair Compensation.

Taxation

The Bombay High Court on Monday issued notice to the Maharashtra government and central government in a petition challenging the amendment to Central Goods and Service Tax Rules, 2017 (CGST Rules).

GST Related

The Rajasthan Goods and Service Tax (GST) department has issued a circular regarding verifying applications for the grant of new GST registration.

GST Related

The Director General of Foreign Trade (DGFT) has extended the deadline for uploading all such Electronic Bank Realisation Certificates (e-BRCs) for shipping bills.

Taxation

The Allahabad High Court has held that the goods lying in the godown cannot be seized by invoking section 129 of the CGST Act.

GST Related

The Insolvency and Bankruptcy Board of India ("IBBI") has amended the IBBI (Insolvency Professionals) Regulations, 2016 ("IP Regulations") for a second time and has notified the amendment on 13.09.202

Legal

The AAR has ruled that security services provided by LLP to any registered person are not covered by the RCM and are taxable on a forward charge basis.

Registration