TaxLiner | Summarizing Laws

2021-06-27 11:22:44 CBIC has released the updated CGST Rules, 2017 Part A and Part B (Forms) updated upto 01st June 2021. You can download the Updated CGST Rules from below links:

CGST Rules Part A:
https://www.cbic.gov.in/resources//htdocs-cbec/gst/010621(Part-A_Rules).pdf

CGST Rules Part B:
https://www.cbic.gov.in/resources//htdocs-cbec/gst/010621(Part-B_Rules).pdf

@HubofCA ओपन / कमेंट

2021-06-27 10:31:06 @HubofCA ओपन / कमेंट

2021-06-27 05:30:05 One-Liner IBC Updates/News:

• Cognizing the Interplay between Limitation Act, 1963 and IBC

• Personal Guarantors under the Insolvency Regime: An Insufficient Framework

• Treatment of Bank Guarantees in CIRP of a company under IBC, 2016

• Analysing the Pre-Existing dispute conundrum in IBC

• Any claim for CIRP period has to be raised before approval of a resolution Plan: NCLAT

• RBI is authorized to give directions to banking Co. to identify specific cases on default for 'resolution' under IBC

• Preservation of Going Concern through the Clean Slate Concept

Join: @HubofCA for fitfully #IBCNews ओपन / कमेंट

2021-06-26 16:30:05 #Banking News & Updates By @HubofCA:

• In Covid year, banks see record profit of Rs 1 lakh crore

• In Covid year, banking sector sees record profit of Rs 1 lakh crore

• PNB Housing shareholders approve appointment of CEO and other directors amid capital infusion controversy

• RBI prescribes qualifications for MDs, WTDs of urban cooperative banks

• SBI-led consortium gets over Rs 5,800 crore in Mallya loan default case: ED

• RBI extends curbs on the operations at PMC Bank

• Indian economy will be impacted due to the second wave of Covid 19: SBI chairman Dinesh Kumar Khara

• RBI extends restrictions on PMC Bank till December 31

• IFSC forms panel to examine best practices in ship financing ओपन / कमेंट

2021-06-26 07:54:25 The Secret of Hair Colour...

https://readon.substack.com/p/the-secret-of-hair-colour ओपन / कमेंट

2021-06-26 06:30:04 Once Addition towards alleged Bogus Purchases made, Additions of similar amounts can’t be made as it leads to Double Addition: ITAT

Dealers Liable to register under VAT whose Taxable Turnover exceeds Rs.10 Lakhs in 3 Months to avail ITC: Telangana HC

GST TRAN-1 Issues: 4 Years and Counting…!!

Income Tax Compliance dates Extended: Govt announces Exemption for Medical Treatment Expenses and Ex-Gratia received on Death due to Covid-19

Initiation of Reassessment Proceedings justified on prima facie view of escapement of Income, LTCG disclosed at a Lesser Amount: Madhya Pradesh HC

All you need to Know about ICAI Revised Training Rules for CA Students

4 Years of GST: Reasons Why Petroleum Products are still controlled by State

Maharashtra Govt. extends Due Date for filing Professional Tax Returns

Join @HubofCA for Daily One-Liner Top Stories #StatNews ओपन / कमेंट

2021-06-26 05:30:05 Exclusive #GST News By @HubofCA

• Even if the powers are exercised under Rule 86(A) of the CGST Rules, 2017, then also, the authorities are required to give reasons for blocking the credits in the credit ledger of the petitioner.

• Officer issuing the SCN was not clear in his mind as to what category the petitioner falls and the notice also does not indicate what actually the petitioner needs to respond to; Vague SCN issued under Sec. 73 of the CGST Act is set aside.

• Motor Vehicle Seat and Track Assembly are two individual and independent products fixed together to make the seat movable; ‘Track Assembly’ is not in the nature of 'Parts' of vehicle seats and would not merit classification under CTH 9401.

• It is the mandate of law that at the time of release, not only tax but also the penalty is required to be paid; directing applicants to execute bond and furnishing BG for the amount of tax and penalty cannot be said to be beyond the purview of law. ओपन / कमेंट

2021-06-25 22:59:55 The Illegality of Artificial Short Squeezes: A Fradulent and Manipulative Move

https://www.irccl.in/post/the-illegality-of-artificial-short-squeezes-a-fradulent-and-manipulative-move ओपन / कमेंट

2021-06-25 20:57:00 3-yr old fintech BharatPe acquires (rescues) 37-year-old PMC bank
5-yr-old online investment platform Groww acquires 13-yr old AMC IndiaBulls
7-year-old PharmEasy in advanced talks to acquire 24-year-old diagnostic labs chain Thyrocare
10-yr-old Edtech giant Byju’s acquires 31-yr-old coaching institute Aakash Education

The tech startup ecosystem in India is getting bolder where ambition, agility, and execution trump legacy and experience. One of the most exciting decades unfolding for startups in India!

By @HubofCA ओपन / कमेंट

2021-06-25 17:52:08 The most awaited amendment for CA Articles is out !!

Now Industrial Training can be started after the completion of 18 months of the Articleship. Find the details in the attached Gazette.

@HubofCA ओपन / कमेंट