Wednesday, 1 November 2017

01 November 2017 Updates

CBEC issues Advisory for Implementing E-Sealing for Containers by Exporters under Self-Sealing Procedure [Read Circular]

Read more at: http://www.taxscan.in/cbec-issues-advisory-implementing-e-sealing-containers-exporters-self-sealing-procedure/12740/
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Refineries should Pay GST on Net Quantity of Superior Kerosene Oil retained for Manufacture of Linear Alkyl Benzene: CBEC [Read Circular] #TaxNews #GSTNews

Read more at: http://www.taxscan.in/refineries-pay-gst-net-quantity-superior-kerosene-oil-retained-manufacture-linear-alkyl-benzene-cbec/12697/
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Delhi HC Reads Down Provision denying Input Tax Credit to Purchasing dealers for Default of Selling Dealers under DVAT Act [Read Judgment]

Read more at: http://www.taxscan.in/delhi-hc-reads-provision-denying-input-tax-credit-purchasing-dealers-default-selling-dealers-dvat-act/12726/
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*CBDT*, due to Technical Gliches, *EXTENDs* the due date of filing of *ITR* & *TAR* for Asst.Year 2017-18 by 7 days to *07 NOV 2017*.
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Companies Act :

Where the Tribunal, taking into consideration the evidence on record, rightly held that notice of the EGM in question was served on the petitioner, and they chose not to attend the meeting, there is no act of oppression uoon the petitioner by the the respondents. *Milind Dayaram Kapse and Others vs. Den Nasik City Cable Network (P.) Ltd. and Others. [2017] 140 CLA 245 (NCLAT)*

IBC :

The Hon'ble SC, in exercise of its  powers under Article 142 of the Constitution of India has held that settlement between the parties can be considered even after the appointment of IRP and case can be withdrawn, taking into account the consent terms entered into between the parties and the undertaking of the Appellant before the Court to abide by the Consent terms.  *Lokhandwala Kataria Construction Private Limited vs. Nisus Finance and Investment Managers LLP.  MANU/SC/1220/2017*
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Cut Pieces of Fabrics attracts 5% GST: CBEC’s Clarification on Unstitched Salwar Suits [Read Circular]

Read more at: http://www.taxscan.in/cut-pieces-fabrics-attracts-5-gst-cbecs-clarification-unstitched-salwar-suits/12692/