Full text of the trade notice The Import policy of metallic scrap and waste requires importers to furnish Preshipment Inspection Certificate (PSIC) for customs clearance of metal scrap and waste imports in accordance with the conditions laid out in Para 2.54 of Handbook of Procedures,…
UIN holders can claim refund under section 55 of the GST Act. The facility of cash ledger and liability register was not provided to UIN holders earlier, as they were only claiming refunds. As there is no check on invoices reported in Form GSTR-11, for…
The persons registered as ISD can distribute ITC among its Units by filing Form GSTR-6, every month. Previously, ISD were not able to adjust negative ITC to its units, under a major head through ITC available under another major head. For example, if in a…
Union minister Nitin Gadkari on Thursday said he has requested Finance Minister Nirmala Sitharaman to expedite processing of tax refunds to businesses "anyhow" within eight days to ease the liquidity crunch being faced by MSMEs during the lockdown. The minister said he was constantly in…
The Ministry of Corporate Affairs vide General Circular No. 20/2020 dated 5th May 2020 has clarified that the companies are allowed to conduct Annual General Meeting (AGM) through Video Conferencing or other audio visual means due to lockdown or COVID-19 outbreak MCA has prescribed certain additional…
Cases: Hon'able Delhi High Court in a Landmark Judgement has responded to four (4) Writ petition of similar facts as mentioned Below BRAND EQUITY TREATIES LIMITED versus THE UNION OF INDIA & ORS. W.P.(C) 11040/2018) and C.M. No. 42982/2018 MICROMAX INFORMATICS LTD. versus UNION OF…
Circular No.138/08/2020 dated 06th May, 2020 provides as follows Issues related to Insolvency and Bankruptcy Code, 2016 Time limit for Registration by IRP/RP shall be 30 days from his/her appointment or 30th June whichever is later Relevant posts for understanding concept of IRP and GST…
Introduction & Brief Background: In line with its circular dated March 24, 2020, the Ministry of Corporate Affairs (‘MCA’) has introduced Companies Fresh Start Scheme, 2020 (‘CFSS, 2020’) vide circular no. 12/2020 under Section 460 of the Companies Act, 2013 (“Act”) read with Section 403. This…