SAT : In Mr. Annand Sarnaaik and Ors. vs. Securities and Exchange Board of India
Parties are duty bound to make the necessary disclosures within the stipulated period under the PIT and SAST regulations. Non-disclosures within the stipulated period would attract penalty.
Read full article at : https://dasgovernance.com/2019/08/22/sat-in-mr-annand-sarnaaik-and-ors-vs-securities-and-exchange-board-of-india/
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Government may have to forgo as much as Rs 1.2 lakh crore in revenue a year if it were to cut tax rates in accordance with the recommendations the direct tax code (DTC) task force is understood to have made in its report submitted with finance minister.
Chartered Accountants’ associations have met MOS Finance seeking a slew of reforms in income tax and GST to benefit taxpayers like timely availability of income tax return forms, extending the due date for filing returns to August permanently, simpler refund norms and increasing the monetary threshold for launching prosecutions.
CBIC intends to ‘vigorously pursue’ non-filers of GST in a move to help boost GST collections. “I would urge all field officers to vigorously pursue with the non-filers amongst Centre’s assessees and get the due revenue deposited.
MCA has notified the second amendment rules for the Investor Education and Protection Fund (IEPF) Authority (Accounting, Audit, Transfer and Refund) Rules, 2016.
Delhi High Court issued notice to ROC as well as the Union of India to file counter-affidavits in a PIL challenging the validity of section 164(2)(a) of the Companies Act, 2013. There were around 2000 petitions that were filed before the court for the same prayer and the same were clubbed and heard in batches.
Supreme Court gave the Centre two weeks to file a reply on challenges to Insolvency and Bankruptcy Code (Amendment) Bill 2019. The apex court was hearing the Essar Steel insolvency case.
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Frequent changes complicating GST compliance: TNCCI senior president:
READ MORE- https://www.gststation.in/frequent-changes-complicating-gst-compliance-tncci-senior-president/
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Industries struggle to file GST annual returns, seek time:
READ MORE- https://www.gststation.in/industries-struggle-to-file-gst-annual-returns-seek-time/
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Fake GST registrations found in ‘evasion-prone’ commodities:
READ MORE- https://www.gststation.in/fake-gst-registrations-found-in-evasion-prone-commodities/
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GST: FMCG, pharma cos to contest retro tax:
READ MORE- https://www.gststation.in/gst-fmcg-pharma-cos-to-contest-retro-tax/
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Parle may lay-off 10,000 as GST, slowdown hurt:
READ MORE- https://www.gststation.in/parle-may-lay-off-10000-as-gst-slowdown-hurt/
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Rules under Sabka Vishwas Legacy Dispute Resolution Scheme (SVLDRS), 2019:
READ MORE- https://www.gststation.in/rules-under-sabka-vishwas-legacy-dispute-resolution-scheme-svldrs-2019/
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GST Annual Return and GST audit (GSTR9 & GSTR9C) due date likely to be extended till November 30 2019
https://studycafe.in/2019/08/gst-annual-return-and-gst-audit-due-date-gstr9-gstr9c-likely-to-be-extended.html
