{"id":3777,"date":"2018-02-26T10:56:21","date_gmt":"2018-02-26T05:26:21","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=3777"},"modified":"2021-08-11T18:37:02","modified_gmt":"2021-08-11T13:07:02","slug":"corporate-and-professional-updates-26th-feb-2018","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-26th-feb-2018\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATES 26TH FEB 2018"},"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-69ea9148943ad\" 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-69ea9148943ad\"  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-updates-26th-feb-2018\/#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-updates-26th-feb-2018\/#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-updates-26th-feb-2018\/#RBI_Update\" title=\"RBI Update:\">RBI Update:<\/a><\/li><\/ul><\/nav><\/div>\n<p style=\"text-align: justify;\"><img decoding=\"async\" src=\"https:\/\/www.agdenetim.com\/mp-include\/uploads\/2015\/03\/1425307532_banner2.jpg\" alt=\"Image result for corporate and professional updates\" \/><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Direct_Tax\"><\/span><strong>Direct Tax:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">Gujarat HC upholds ITAT order, confirms unexplained cash credit addition u\/s 68\u00a0in case of\u00a0assessee\u00a0(an individual),\u00a0with respect to receipt of unsecured loan despite confirmation from lender;\u00a0\u00a0[TS-71-HC-2018(GUJ)]<\/p>\n<p style=\"text-align: justify;\">Pune ITAT deletes Sec. 40(a)(i) disallowance for non-deduction of <a href=\"https:\/\/carajput.com\/tds.php\">TDS<\/a> u\/s. 195 on\u00a0payment of lease line charges by assessee (an Indian company) to its US parent, holds payment was not royalty under India-USA DTAA;\u00a0[TS-70-ITAT-2018(PUN)]<\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Indirect_Tax\"><\/span><strong>Indirect Tax:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">CBEC has issued\u00a0directions under Section 168 of the <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">CGST Act<\/a> regarding non-transition of CENVAT credit under section 140 of CGST Act or non-utilization thereof in certain cases-reg.\u00a0Vide Circular\u00a0 No. 33\/07\/2018-GST, dated 23rd February 2018.<\/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><\/em><em><a href=\"https:\/\/carajput.com\/blog\/43rd-gst-council-meeting\/\">Important decisions made at the \u00a043<sup>rd<\/sup> GST Council\u00a0 meeting<\/a><\/em><\/strong><\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"text-decoration: underline;\">FAQ on Condonation of Delay Scheme (CODS):<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"text-decoration: underline;\">Query:<\/span><span style=\"text-decoration: underline;\">\u00a0\u00a0<\/span>\u00a0Which companies cannot file overdue documents under CODS, 2018?<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-decoration: underline;\">Answer:\u00a0<\/span><span style=\"text-decoration: underline;\">\u00a0\u00a0<\/span>Companies which have been struck off by ROCs or whose name have been removed from the <a href=\"https:\/\/www.legalpillers.com\/services\/roc-compliances-of-pvt-ltd-opc\/\">Register of Companies<\/a> u\/s 248(5) of the Companies Act, 2013 by the ROCs shall not be eligible to file documents under this Scheme. Such companies can however, make application to NCLT for revival and upon successful order for revival avail benefits of this Scheme during the period of its validity only.<\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"RBI_Update\"><\/span><strong><span style=\"text-decoration: underline;\">RBI Update:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">The <a href=\"https:\/\/carajput.com\/rbi-consulting.php\">Reserve Bank of India (RBI)<\/a> today launched the Ombudsman Scheme for Non-Banking Financial Companies (NBFC) vide Notification dated February 23,2018\u00a0 for redressal of complaints against NBFCs registered with RBI under Section 45-IA of the RBI Act, 1934.\u00a0Dated 23<sup>rd<\/sup>\u00a0February 2018.<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><strong>\u00a0Quotes of the day<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">\u201cThere are two primary choices in life; to accept conditions as they exist, or to accept the responsibility for changing them.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Direct Tax: Gujarat HC upholds ITAT order, confirms unexplained cash credit addition u\/s 68\u00a0in case of\u00a0assessee\u00a0(an individual),\u00a0with respect to receipt of unsecured loan despite confirmation from lender;\u00a0\u00a0[TS-71-HC-2018(GUJ)] Pune ITAT deletes Sec. 40(a)(i) disallowance for non-deduction of TDS u\/s. 195 on\u00a0payment of lease line charges by assessee (an Indian company) to its US parent, holds payment &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,150,172,9,4],"tags":[1020,960,460,1019,444],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3777"}],"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=3777"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3777\/revisions"}],"predecessor-version":[{"id":15481,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3777\/revisions\/15481"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=3777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=3777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=3777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}