Time of supply means the point in time when goods/services are considered supplied’. When the seller knows the ‘time’, it helps him identify due date for payment of taxes. Place of supply is required for determining the right tax to be charged on the invoice, whether IGST or CGST/SGST will apply. Value of supply is … Continue reading Are the “Time of Supply”, “Place of Supply”, and “Value of Supply” really important ?
The Registrar of Companies, Ahmedabad has on 25-4-2017 issued a List of Defaulting Companies who have not commenced any business within one year of incorporation and also have not done any business during last two financial years. It is well advised not to deal with these companies in any manner, as a customer, vendor, investor, … Continue reading Beware before doing any transactions with the defaulting companies
Last week, the Central Electricity Regulatory Commission (CERC) passed an order relating to Adani Power that has significant implications for the power sector in India. Adani Power, which had entered into power purchase agreements (PPAs) with state utilities in Gujarat and Haryana for sale of power, approached the CERC with a request for relief on … Continue reading CERC Order in the Adani Power Case
Competition Commission of India amends Combination Regulations The highlights of the major changes in the Combination Regulations are as under: ++ The Regulations now do not require a notice to be filed for acquisition of shares or voting rights of companies if the acquisition is less than five percent of the shares or voting rights … Continue reading Combination Regulations – CCI amends
Is defaulting Bank loans a criminal issue as well ? This would be the topic in the coming days as Canara Bank has filed a criminal complaint to the CBI against Deccan Chronicle Holdings (DCHL). Briefly, for the benefit of those who are new to this weird loan saga, more weird than the Kingfisher loan … Continue reading Is defaulting Bank loans a criminal issue as well ?
Here are some googlies Pranabda has bowled… Caring and sharing will now come with riders!! Cash donations above Rs 10,000 towards scientific research or rural development or to certain funds, charitable institutions will not be eligible for tax benefits under section 80G and 80GGA of the Act. The new mantra: “Everyone should contribute to the … Continue reading Budget India 2012: Devil in the fine print
Hon’ble CESTAT, Mumbai has held in the case of Parth Industries vs Commissioner of Customs, Goa, cited in 2012-TIOL-230-CESTAT-MUM, that the Commissioner (Appeals) is not competant to pass interim orders. The appeals are filed before the Commissioner Appeals, under section 128 of the Customs Act, 1962. The procedure to be followed by the Commissioner is … Continue reading Is the Commissioner (appeals) competent to pass interim orders??