{"id":3373,"date":"2017-08-26T17:50:11","date_gmt":"2017-08-26T12:20:11","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=3373"},"modified":"2021-11-18T15:43:43","modified_gmt":"2021-11-18T10:13:43","slug":"corporate-and-professional-update-august-26-2017","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-update-august-26-2017\/","title":{"rendered":"corporate and professional update august 26, 2017"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69eae3861b0e2\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69eae3861b0e2\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-august-26-2017\/#CORPORATE_AND_PROFESSIONAL_UPDATE_August_26_2017_Direct_Tax\" title=\"CORPORATE AND PROFESSIONAL UPDATE August 26, 2017 \nDirect Tax:\">CORPORATE AND PROFESSIONAL UPDATE August 26, 2017 \nDirect Tax:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-august-26-2017\/#Indirect_Tax\" title=\"Indirect Tax:\">Indirect Tax:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-august-26-2017\/#GST_Update\" title=\"GST Update\">GST Update<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-august-26-2017\/#FAQ_on_GST\" title=\"FAQ on GST\">FAQ on GST<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-august-26-2017\/#Corporate_Law\" title=\"Corporate Law:\">Corporate Law:<\/a><\/li><\/ul><\/nav><\/div>\n<div class=\"prose\">\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/ak9.picdn.net\/shutterstock\/videos\/4479587\/thumb\/1.jpg\" alt=\"Image result for corporate images hd\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"CORPORATE_AND_PROFESSIONAL_UPDATE_August_26_2017_Direct_Tax\"><\/span><strong><span style=\"text-decoration: underline;\">CORPORATE AND PROFESSIONAL UPDATE August 26, 2017<br \/>\nDirect Tax<\/span>:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Delhi ITAT upholds assessee&#8217;s Resale Price Method (RPM) over TPO&#8217;s TNMM for AYs 2003-04 to 2005-06 for benchmarking purchases of finished goods from AE for resale, holds that RPM is most appropriate method absent any value addition by assessee[TS-661-ITAT-2017(DEL) -TP]<\/li>\n<li>The<a href=\"https:\/\/carajput.com\/income-tax-services.php\"> income tax<\/a> department is open to lowering the withholding tax rate for foreign companies which have income in India, says CBDT chairman Sushil Chandra.<\/li>\n<li>Supreme Court ruling the right to privacy as a fundamental right under the Constitution has triggered uncertainty over the mandatory linking of Aadhaar for stock trading brokers said they will now wait for the SC judgment that will test the validity of Aadhaar.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Indirect_Tax\"><\/span><strong><span style=\"text-decoration: underline;\">Indirect Tax:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>CBEC made amendment in the <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">Integrated Goods and Services Tax Act<\/a> by way of notification no 8\/2017- Integrated Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 683(E), dated the 28th June, 2017.\u00a0Vide notification no 354\/173\/2017 \u2013TRU, dated 22th August 2017.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"GST_Update\"><\/span><strong><span style=\"text-decoration: underline;\">GST Update<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li><a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a> Authorities have issued clarification w.r.t selling of space for advertisement in print media\u00a0on the basis of the\u00a0queries being raised regarding GST<a href=\"https:\/\/pib.nic.in\/newsite\/PrintRelease.aspx?relid=170186\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">\u00a0<\/a>applicability on the same.\u00a0The rate is @ 5%.<\/li>\n<li>IT Minister launched a GST filing and reconciliation solution product named \u2018XaTTaX\u2019. The product, developed by Sailotech, simplifies the filing of <a href=\"https:\/\/carajput.com\/gst\/gst-return.php\">GST returns<\/a>, claims for refund, raising invoices with comfort from home or workplace.<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"https:\/\/carajput.com\/publications\/gst-complainces-calender-nov-2020.pdf\">GST Return compliances calendar- Nov 2020<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/carajput.com\/learn\/salient-features-of-new-proposed-gst-system-in-india.html\" data-cke-saved-href=\"https:\/\/carajput.com\/learn\/salient-features-of-new-proposed-gst-system-in-india.html\">SALIENT FEATURES OF NEW GST SYSTEM IN INDIA<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/carajput.com\/blog\/key-points-of-42th-gst-council-meeting-headed-by-fm-n-sitharaman\/\" data-cke-saved-href=\"https:\/\/carajput.com\/blog\/key-points-of-42th-gst-council-meeting-headed-by-fm-n-sitharaman\/\">Key points of 42nd GST council Meeting headed By FM N. Sitharaman<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/carajput.com\/blog\/gstn-enable-details-to-be-auto-populated-in-e-invoice-into-gstr-1\/\" data-cke-saved-href=\"https:\/\/carajput.com\/blog\/gstn-enable-details-to-be-auto-populated-in-e-invoice-into-gstr-1\/\">GSTN enable auto-populated in the E-invoice information into GST Return -1<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/carajput.com\/learn\/delayed-in-payment-of-gst-then-intt-to-be-paid-on-net-gst-liability-from-sep-1-2020.html\" data-cke-saved-href=\"https:\/\/carajput.com\/learn\/delayed-in-payment-of-gst-then-intt-to-be-paid-on-net-gst-liability-from-sep-1-2020.html\">Delayed in payment of GST then Intt to be paid on net GST liability from Sep 1, 2020.<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/carajput.com\/publications\/effect-of-gst-on-advertising-and-cinema-induatry.pdf\" data-cke-saved-href=\"https:\/\/carajput.com\/publications\/effect-of-gst-on-advertising-and-cinema-induatry.pdf\">Effect of GST on Advertisement and Cinema Industry<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/carajput.com\/publications\/gst-impact-on-import-and-exports.pdf\" data-cke-saved-href=\"https:\/\/carajput.com\/publications\/gst-impact-on-import-and-exports.pdf\">GST Impact on Import and Export\u00a0<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/carajput.com\/blog\/gst-impact-on-real-estate\/\" data-cke-saved-href=\"https:\/\/carajput.com\/blog\/gst-impact-on-real-estate\/\">GST Impact on Real Estate\u00a0<\/a><\/strong><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"FAQ_on_GST\"><\/span><strong><span style=\"text-decoration: underline;\">FAQ on <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a><\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Query:<\/strong>\u00a0What is the time limit beyond which the inputs\/capital goods sent for job work shall be treated as supply?<\/p>\n<p><strong>Answer:<\/strong>The time limit prescribed for return of goods sent to job work under the exemption route is 1 year of being sent out (for inputs) and 3 years of being sent out (for capital goods).<\/p>\n<p>Therefore, if the inputs\/ capital goods are returned to the principal after 1 year\/ 3 years (as applicable), then such return of goods to the principal after the said period would be treated as \u2018supply\u2019. This time limit is not applicable to moulds and dies, jigs, fixtures, and tools<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Corporate_Law\"><\/span><strong><span style=\"text-decoration: underline;\">Corporate Law:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>MCA made companies (Arrests in connection with Investigation by serious Fraud Investigation Office) Rules, 2017 which shall come into force on the date of their publication in the Official Gazette.Vide notification no ur2l20r3 cL-V, dated 24th august 2017<\/li>\n<li>MCA amend the National Company Law Appellate Tribunal Rules, 2O16. These rules may be called the National Company Law Appellate Tribunal (Amendment) Rules&#8217; 2O17 which shall come into force on the date of their publication in the official Gazette.\u00a0Vide notification no 1\/30\/2013-CL-V, dated 23th August 2017<\/li>\n<li>The\u00a0Cabinet\u00a0has approved a framework to speed up mergers of public sector banks, the first of which could take place by March. The mergers will not involve any cash but only share swaps.<\/li>\n<\/ul>\n<p><strong><span style=\"text-decoration: underline;\">Quotes of the day<\/span><\/strong><\/p>\n<p>&#8220;Plant your garden and decorate your own soul, instead of waiting for someone to bring you flowers.&#8221;<\/p>\n<p>We look forward for your valuable comment www.carajput.com<\/p>\n<p>FOR FURTHER QUERIES CONTACT US:<\/p>\n<p>W: <a href=\"https:\/\/carajput.com\/\">www.carajput.com<\/a> \u00a0 E: <a href=\"https:\/\/carajput.com\/\">singh@carajput.com<\/a> T: 011-233-4-3333, 9-555-555-480<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; CORPORATE AND PROFESSIONAL UPDATE August 26, 2017 Direct Tax: Delhi ITAT upholds assessee&#8217;s Resale Price Method (RPM) over TPO&#8217;s TNMM for AYs 2003-04 to 2005-06 for benchmarking purchases of finished goods from AE for resale, holds that RPM is most appropriate method absent any value addition by assessee[TS-661-ITAT-2017(DEL) -TP] The income tax department is &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[208,172,9027],"tags":[442,5293,5294,5298,5297,5300,5292],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3373"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=3373"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3373\/revisions"}],"predecessor-version":[{"id":7342,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3373\/revisions\/7342"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=3373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=3373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=3373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}