{"id":3379,"date":"2017-08-28T19:12:20","date_gmt":"2017-08-28T13:42:20","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=3379"},"modified":"2021-08-12T15:44:19","modified_gmt":"2021-08-12T10:14:19","slug":"corporate-and-professional-update-august-28-2017","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-update-august-28-2017\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE August, 28 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-69f32e7ac2fa9\" 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-69f32e7ac2fa9\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-august-28-2017\/#Direct_Tax\" title=\"Direct Tax:\">Direct Tax:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-august-28-2017\/#Indirect_Tax\" title=\"Indirect Tax:\">Indirect Tax:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-august-28-2017\/#GST_Update\" title=\"GST Update\">GST Update<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-august-28-2017\/#FAQ_on_GST\" title=\"FAQ on GST\">FAQ on GST<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-august-28-2017\/#Corporate_Law\" title=\"Corporate Law:\">Corporate Law:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-august-28-2017\/#Quotes_of_the_day\" title=\"Quotes of the day\">Quotes of the day<\/a><\/li><\/ul><\/nav><\/div>\n<p><strong>CORPORATE AND PROFESSIONAL UPDATE August, 28 2017<\/strong><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.agdenetim.com\/mp-include\/uploads\/2015\/03\/1425307532_banner2.jpg\" alt=\"Image result for corporate images\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Direct_Tax\"><\/span><strong><span style=\"text-decoration: underline;\">Direct Tax<\/span>:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>CESTAT held that data retrieved from CAs cannot be used as incriminating material against assessee. Shri. Mahalaxmi Distilleries Vs CCE (CESTAT Chandigarh)<\/p>\n<h2><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><\/h2>\n<p>Allahabad high court held that <a href=\"https:\/\/carajput.com\/gst\/gst-return.php\">GST return<\/a> and deposit of tax thereon provided the returns and the tax is deposited\u00a0within two weeks\u00a0of the issuance of the correct registration certificate.\u00a0M\/s Modern Pipe Industries Vs. State Of U.P. (Allahabad High Court)<\/p>\n<h2><span class=\"ez-toc-section\" id=\"GST_Update\"><\/span><strong><span style=\"text-decoration: underline;\"><a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a> Update<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As many as 2,964,653 filers had submitted returns for July under the GST regime by the Friday\u00a0evening.\u00a0Friday\u00a0was the deadline for filing returns. The numbers of filers are likely to increase.<\/p>\n<p>Filing of GST TRAN \u2013 1 Forms is mandatory for anyone to carry forward the Balances of Tax Credit lying unutilized in the erstwhile Central Excise\/Service Tax\/VAT Regime and to claim the unavailed credit either on Capital Goods or Inputs lying in stock. Today is\u00a0the last date for filing of <a href=\"https:\/\/carajput.com\/gst\/gst-return.php\">GSTR \u2013 3B<\/a> for the month of July, 2017.<\/p>\n<p><strong><em><u>Read more about: <\/u><\/em><em><a href=\"https:\/\/carajput.com\/blog\/what-is-core-business-activity-in-gst\/\">What is core Business Activity GST<\/a><\/em><\/strong><\/p>\n<p><strong><em><u>Read more about<\/u><u>: <\/u><\/em><em><a href=\"https:\/\/carajput.com\/blog\/all-about-gst-offenses-penalties-appeals\/\">All about GST Offenses, Penalties, and Appeals<\/a><\/em><\/strong><\/p>\n<h2><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><\/h2>\n<p><strong>Query:<\/strong>\u00a0Whether recovery provisions can be initiated in case of wrong distribution of credit?<\/p>\n<p><strong>Answer:<\/strong>\u00a0Yes. In terms of Section 21 of the Act, the recovery provisions can be initiated if the\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Input Service Distributor distributes credit in contravention of the law resulting in excess distribution of credit to one\/ more recipients of credit. Such credit can be recovered from the recipients along with applicable interest<\/p>\n<h2><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><\/h2>\n<p>MCA introduced new sub-sections (8), (9) and sub-section (10) of section 212 in the\u00a0Companies Act,\u00a02013 (18 of 2013).\u00a0Vide notification no rlt2l2013 CL-v, dated 24th August 2017.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Quotes_of_the_day\"><\/span><strong><span style=\"text-decoration: underline;\">Quotes of the day<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Aim for success, not perfection. Never give up your right to be wrong, because then you will lose the ability to learn new things and move forward with your life.<\/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:\u00a0<a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">www.carajput.com<\/a><\/p>\n<p>E: <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">singh@carajput.com<\/a>\u00a0T: 011-233-4-3333, 9-555-555-480<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CORPORATE AND PROFESSIONAL UPDATE August, 28 2017 Direct Tax: CESTAT held that data retrieved from CAs cannot be used as incriminating material against assessee. Shri. Mahalaxmi Distilleries Vs CCE (CESTAT Chandigarh) Indirect Tax: Allahabad high court held that GST return and deposit of tax thereon provided the returns and the tax is deposited\u00a0within two weeks\u00a0of &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,150,172,9,4],"tags":[5290,649,5291,5287,648],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3379"}],"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=3379"}],"version-history":[{"count":4,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3379\/revisions"}],"predecessor-version":[{"id":15544,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3379\/revisions\/15544"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=3379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=3379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=3379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}