Company Law: The Registrar of Companies (Uttar Pradesh) has issued an order related to SONANCHAL MUDRA NIDHI LIMITED for non-compliance with Section 137 of the Companies Act, 2013 by not filing of the financial statement of the company statement for year ending 31.03.2019 thereby attracting the penal provisions mentioned under Section 137(3) of the Act. …
VAT: One Time Settlement Scheme 2023 introduced by Punjab Government for recovery of dues under VAT & State Excise. [No.G.S.R.85/P.A.8/2005/S.29 dated 10.11.2012]
GST: West Bengal Government reduced the threshold for generation of e-way bill from Rs. 1,00,000 to Rs. 50,000 and made e-way bill mandatory for job work also. [Notification No. 02/2023-C.T./GST dated: 10.11.2023]
GST: GSTN enabled functionality to generate automated intimation in Form GST DRC-01C which enables the taxpayer to explain the difference in ITC available in GSTR-2B & ITC claimed in GSTR-3B, In case, no response is filed by the impacted taxpayers in Form DRC-01C Part B, such taxpayers will not be able to file their subsequent …
GST: GSTN has communicated the amount of ITC pertaining to the supplier who have been not filed GSTR-3B for FY 2022-23 for the purpose of reversal of ITC on account of Rule 37A of CGST Rules. [GSTN Advisory dated 14.11.2023]
Bizsol Update for the month November 2023 From the Desk of Chairman Article on ‘Impact Of Remote Work On Organizational Culture ‘ by CS. Venkat R. Venkitachalam, Chairman, Bizsolindia Services Pvt. Ltd. Article on ‘Conversion Of DTA Unit To EOU With Pending EPCG Obligations – Issues And Solutions’ by CA Manoj Malpani, Director, Bizsolindia Services …
Currently lot of taxpayers has received Show Cause Notices for the financial year 2017-18 as due date of issuing SCN for FY 2017-18. Department is not even considering the submission made by the taxpayers before issuing SCNs. Due to this, many taxpayers are facing un-necessary hardship of replying to such baseless SCNs. Department can issue …
GST : Madras High Court in case of Caterpillar India (P.) Ltd. vs. Assistant Commissioner held that Recovery can’t be made directly due to difference in GSTR-1 & GSTR-3B without following procedure under Rule 88C of the CGST Rules 2017. Gujarat High Court in case of Bharatkumar Pravinkumar and Co. vs. State of Gujarat held …
The ongoing Israel – Hamas war was something that was waiting to happen. The first instinctive question that crops up is why this war and why now? There is nothing about the ongoing war that has not been analysed threadbare in the newspapers or on the TV screens. I do believe that no conflict is …
CHALLENGES BEFORE THE HUMAN RESOURCE DEPARTMENT Even those who may have difficulty in defining organisational culture in precise terms with its varied hues and indeterminate characteristics, will have no hesitation in admitting to the fact that great organisations have been built over the years whether in India or elsewhere not just based on their performances, …
Background There are various schemes under the Foreign Trade Policy 2023 like Advance Authorisation (for raw material & components), EPCG (for capital goods), Export Oriented Unit (for raw material, components and capital goods). By availing these schemes read with corresponding exemption notifications issued by Ministry of Finance, the exporter ensures that the goods are exported …
INCOME TAX : Calcutta High Court in case of Bangabasi Collage vs. Union of India remanded matter back to Assessing officer in case where assessee’s case was selected for faceless assessment and he prayed for personal hearing through video conferencing, however opportunity of personal hearing could not be availed due to technical difficulties and Assessing …
Income Tax: Exemption is granted from levy of income tax under clause (46) of section 10 of the Income-tax Act, 1961 on certain income of Punjab Infrastructure Regulatory Authority. [Notification No. 97/2023- Income Tax | Dated: 6th November2023]
Income Tax: Exemption is granted from levy of income tax under clause (46) of section 10 of the Income-tax Act, 1961 for fees on publishers and news papers and Interest earned on FDRs and Savings bank accounts to Press Council of India. [Notification No. 98/2023- Income Tax | Dated: 6th November2023]
FTP/DGFT: DGFT Introduced Centralized Video Conference Facility for Exporters. [Trade Notice No. 32/2023-24 dated 6th November 2023]
GST: Government of Rajasthan clarifies the procedures for manual appeal filing under the Rajasthan Goods and Services Tax Rules, 2017. [GST Circular R-1/2023 dated 1st November 2023]
GST: CBIC notified New Monetary Limits for Appeals before SC (Rs. 2Cr) , HC (Rs. 1Cr) & CESTAT (Rs. 50 lacs). [Instruction dated 2nd November 2023]
GST: CBIC prescribed the procedure for condonation of delay in filing of appeals against demand orders passed until 31st March 2023. [Notification No. 53/2023– CT dated 2nd November 2023]
Customs: CESTAT Chennai in case of COMMISSIONER OF CUSTOMS (AIR),CHENNAI – 600027 Vs M/s ECI TELECOM INDIA PVT LTD held that Rejecting refund claim simply on the ground of delay in filing claim before proper authority while admitting that assessee had filed claim before department on time, albeit at a wrong jurisdiction cannot be approved.
RBI/FEMA: RBI Guidelines issued for change in name of Co-operative Banks. [Notification No. RBI/2023-24/79 DoR.REG/LIC.No.55/07.01.000/2023-24 dated 30th Oct 2023]
