Latest Tax News & Updates

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Statutory dues for taxes operational Debt:NCLAT

Company Law - 03-Apr-2019

ORDER OF NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI These appeals though heard separately but the question being common are being disposed of by this common judgment. In Company Appeal (AT) (Insolvency) No. 205 of 2017 2. This appeal has been preferred by ‘Pr. Director General of Income Tax (Admn. & TPS)’ against the order dated 2ndAugust, 2017 passed by the Adjudicating Authority (National Company Law Tribunal), Hyderabad Bench, Hyderabad under Section 31 of...

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Cabinet approves Promulgations of Companies (Second Amendment)

Company Law - 03-Apr-2019

The Union Cabinet chaired by Prime Minister Narendra Modi has approved the Promulgation of the Companies (Second Amendment) Ordinance 2019 and for replacement of the said Ordinance in Parliament by a replacement Bill. It is based on the recommendations of the Committee to review offences under the Companies Act, 2013, so as to fill critical gaps in the corporate governance & compliance framework as enshrined in the Companies Act 2013, while simultaneously extending greater Ease of...

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Company features of Active (Company KYC) form

Company Law - 03-Apr-2019

 The Ministry of Corporate Affairs, in its pursuit to improve Corporate Governance and Compliances on the part of the Company after the successful roll out of DIR-3 KYC for Directors/DIN holders, has introduced eform (INC-22A) christened ‘ACTIVE (Active Company lagging Identities and Verification) vide rule 25 A of the Companies (Incorporation) Rules, 2014 inserted vide notification dated 21st February 2019 which is effective from 25th February 2019 for Companies....

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General Bond (Form B-17) to be executed by the EOU,s

Excise Duty - 03-Apr-2019

CBIC hereby notifies Form B – 17 General Bond (with Surety/Security) to be executed by the Export Oriented Units /Units in the Electronic Hardware Technology Park/Software Technology Park/ Bio-Technology Park vide Notification No. 1/2018-Central Excise (N.T) Dated 5th December, 2018. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi, the 5th December, 2018 G.S.R______In pursuance of rules...

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Central Excise Officer of DGCEI have all india jurisdiction: HC

Excise Duty - 03-Apr-2019

Delhi High Court held as under: (i) Central Excise Officers of DGCEI have all India jurisdiction and can issue notices and enquire into the matters relating to service-tax against any assessee/ person even if the said person or assessee is registered with one or multiple Commissionerates. (ii) Notice under Section 14 of the CE Act i.e. Central Excise Act can be issued even if proceedings under Section 73 of the Fin Act i.e. Finance Act, 1994 are not pending. However the notice should...

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