3 New Functionalities on registration on GST Portal
1. Taxpayers can now see all the GSTINs mapped to same PAN across India, at the time of filing the Part A of the registration application form for new registration, on same PAN.
2. Taxpayers applying for registration as OIDAR can now give details of their authorised representative appointed in India (Name, PAN, Mail & mobile number) in Part A of the registration Form GST REG 10.
3. The validation of unique combination of same PAN, Email and Mobile number has been removed while filing registration application by already registered taxpayers. Now another registration can be taken by already registered taxpayers (Normal, Composition, Casual, TDS, TCS, GSTP) by giving same (or any) combination of PAN, Email or Mobile number.
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Effective from 16.12.2019, National Electronic Funds Transfer [NEFT] facility shall be available for all 24 Hours for all days including Holidays. There shall be 48 Settlement Cycles after every 30 Minutes. Presently, the NEFT facility is available from 8.00 AM to 7.00 PM.
Source: RBI Circular dated 06.12.2019
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1. GST- Detention of goods-
The applicant contended that the transaction between the parties was not a sale since there was no transfer of ownership of the goods to the consignee. Held, the definition of supply u/s 7 of CGST Act, 2017 is not confined to transactions of sale but includes transfer for other purposes also. Under such circumstances, the detention is not unjustified.
2019-VIL-585-KER
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The Ld Counsel for the Appellant contends that appellants and Respondents communicated with each other about the proposal of sanctioning of loan by way of email, Whatsapp communications etc . Various WhatsApp communication is on record as Annexure A-5 & A-6 which shows that the respondent further discussed the term loan amount, which may be required to be disbursed, which reflects that the corporate debtor took services. The document submitted by the Appellants requires further investigation to prove its claim, which can't be done in summary proceedings . The Documents relied on are not sufficient to show engagement for service charge fixed, and the rate of service charge.
In the circumstances, there is nothing on record to show that the amount is due and payable. Thus, the Adjudicating Authority has rightly rejected the application filed u/s 9 of the ‘I&B’ Code.* We find no merit in this appeal. The
appeal is accordingly dismissed — no order as to costs.
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This is to inform that ICAI has submitted its pre-budget memorandum for the year 2020 to CBDT.
The same is available at https://resource.cdn.icai.org/57650dtc46843.pdf .
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๐ ARCs will now have to take the auction route to acquire NPAs. Total NPAs in the banking system are pegged at Rs 9.3 lakh crore.
๐ NCLT admits Bank of India's insolvency process against RNA Corp. The public sector lender had granted a loan of Rs 75 crore to RNA Corp in October 2013 and the builder defaulted on repayment of this loan in December 2014, since then the account has been classified as a non-performing asset. The bank has claimed.
๐ JSW’s plea upheld against order on Vardhman Industries. The company had preferred an appeal before NCLAT challenging certain portions of NCLT orders, and the judgment on the same has been pronounced on December 4, 2019, allowing the said appeal of JSW,
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