(A) BRIEF FACTS Application was filed under Rule 128 of the Central Goods and Services Rules, 2017 [“CGST Rules”] alleging profiteering in respect of restaurant services supplied by Cilantro Diners Private Limited (“Respondent”), Franchisee of Subway Systems India Private Limited. It was alleged that despite the reduction in the rate of GST from 18 per … Continue reading EVERY RECIPIENT / CUSTOMER IS ENTITLED TO THE BENEFIT OF TAX RATE REDUCTION BY WAY OF REDUCED PRICES: NATIONAL ANTI-PROFITEERING AUTHORITY [REF: STATE TAX OFFICER VERSUS CILANTRO DINERS PRIVATE LIMITED (CASE NO. 18 OF 2020)]
Month: April 2020
RECOVERY PROCEEDING OF INTEREST ON DELAYED PAYMENT UNDER GST CANNOT BE INITIATED WITHOUT INITIATION OF ANY ADJUDICATION PROCEEDINGS – JHARKHAND HIGH COURT [W.P (T) No. 3517 of 2019]
BRIEF FACTS The due date for filing of GSTR 3B Return for the months of February, 2018 and March, 2018 was reflecting as 31st March 2019 in GSTN Portal. The assessee reasonably believed that due date of filing of GSTR-3B Return for the months of February and March, 2018 has been extended up to 31st … Continue reading RECOVERY PROCEEDING OF INTEREST ON DELAYED PAYMENT UNDER GST CANNOT BE INITIATED WITHOUT INITIATION OF ANY ADJUDICATION PROCEEDINGS – JHARKHAND HIGH COURT [W.P (T) No. 3517 of 2019]
NEIGHBOURING COUNTRIES ARE NO LONGER COVERED UNDER THE AUTOMATIC ROUTE – FOREIGN DIRECT INVESTMENT POLICY STANDS AMENDED
BACKGROUND Foreign Investment in India is regulated in terms of clause (b) sub-section 3 of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (FEMA) read with Foreign Exchange Management (Transfer or Issue of a Security by a Person resident Outside India) Regulations, 2017 issued vide Notification No. FEMA 20(R)/2017-RB dated November … Continue reading NEIGHBOURING COUNTRIES ARE NO LONGER COVERED UNDER THE AUTOMATIC ROUTE – FOREIGN DIRECT INVESTMENT POLICY STANDS AMENDED
CLARIFICATION ON ELIGIBILITY OF CSR EXPENDITURE RELATED TO COVID-19
The Ministry of Corporate Affairs (“MCA”) vide General Circular No. 10/2020 dated 23.03.2020 has already clarified that spending CSR funds for COVID-19 related activities shall qualify as CSR expenditure. It was further clarified that funds may be spent for various activities related to COVID-19 under items nos. (i) and (xii) of Schedule VII relating to … Continue reading CLARIFICATION ON ELIGIBILITY OF CSR EXPENDITURE RELATED TO COVID-19
COMPANIES ARE ALLOWED TO HOLD EGMS THROUGH VIDEO CONFERENCING AND OTHER AUDIO VISUAL MEANS
BACKGROUND The provisions of the Companies Act, 2013 (“Act”) allow ordinary and special resolutions to be passed through postal ballot or e-voting route (please refer to Section 108 for e-voting and Section 110 for postal ballot). However, there is no provision under the Act regarding holding of General Meeting through video conferencing (VC) or Other … Continue reading COMPANIES ARE ALLOWED TO HOLD EGMS THROUGH VIDEO CONFERENCING AND OTHER AUDIO VISUAL MEANS
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