Section 129 is a complete code for the purpose of addressing all violations committed in transit leading to detention, seizure, and release of goods and brings within its sweep all such contraventions, irrespective of the gravity of the violation itself.

Vide decision of High Court of Madras in Ideal Movers (P.) limited vs. State tax Officer. Facts of the case: The Petitioner is a transporter and had been engaged to transport a consignment.The consignment was accompanied by invoices and an E-way bill.E- way bill was generated on 12-01-2020 and valid till 16-01-2020. As the lorry had broke-down and [...]

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Payments Bank and Small Finance Banks – access to Call /Notice/Term Money Market

Reserve Bank Of India vide its Circular No. RBI/2018-19/68 has clarified that Payments Banks and Small Finance Banks are eligible to participate in the Call/Notice/Term [...]

Online application for grant of lower deduction of TDS certificate

The Central Board of Direct Taxes vide Notification No. 74/2018 dated 25th October, 2018 has notified that the application for grant of lower deduction of TDS certificate can [...]

Streamlining the Process of Public Issue of Equity Shares and convertibles

The Securities Exchange Board of India(SEBI) Vide its Circular No SEBI/HO/CFD/DIL2/CIR/P/2018/138 dated 1st November 2018 has decided to introduce the use of Unified [...]

Circular clarifying collection of tax at source by Tea Board of India

The Central Board of Indirect Taxes and Customs Vide Circular No 74/48/2018 –GST dated 5th November 2018 has clarified that TCS at the notified rate, shall be collected by [...]

Provisions relating to TDS not applicable to supply from PSU to PSU

The Central Board of Indirect Taxes and Customs Vide Notification No 61/2018 – Central Tax dated 5th November 2018 has notified seeks to exempt a supply from one PSU to [...]

Filing of Form GSTR 10 – Final Return

The Central Board of Indirect Taxes and Customs Vide Notification No 58/2018 – Central Tax dated 26th October 2018 has notified that the persons whose GST registration has [...]

No levy of Service Tax/GST on the fee paid for award of license for sale of liquor – Vide Decision Of High Court Of Punjab And Haryana in Rajwinder Singh V. Commissioner, CGST Commissionerate, Jalandhar

Facts of the Case: The petitioner(Rajwinder Singh) has received notices dated 29.05.2017, 14.07.2017 and 11.01.2018 asking him to furnish certain information with reference [...]

Judgements relating to linking of Aadhar

The Honorable Supreme Court Of India vide Justice K.S. Puttaswamy (RETD.) V. Union of India has held the following – Aadhaar Constitutionally valid - The Aadhaar Act serves [...]

Completed Assessment reopened on the ground that certain transactions were not disclosed during the original assessment – Vide Decision of High Court of Madras in Sun Direct TV Pvt. Ltd. V. Assistant Commissioner of Income-tax, Chennai

Facts of the case: Completed assessments were sought to be reopened by the revenue after a lapse of six years on ground that there were some materials on record and [...]

External Commercial Borrowings (ECB) Policy – Liberalisation

Reserve Bank Of India vide Cirulcar RBI/2018-2019/54 A.P. (DIR Series) Circular No.10 dated 3rd October 2018 has liberalized the norms relating to External Commercial [...]

Relaxation of additional fees and extension of last date of in filing of forms MGT-7 (Annual Return) and Aoc-4 (Financial statement) under the Companies Act, 2013- State of Kerala

The Ministry of Corporate affairs vide Circular No. 09/2018 dated 5th October 2018 has decided to relax the additional fees payable by companies having registered office in [...]

Amendments made in Schedule III(Preparation of Financial Statements) of Companies Act, 2013

The Ministry of Corporate affairs vide Notification dated 11/10/2018 has made amendments in Schedule III of the said Act. Key changes are as follows: Loan receivables [...]