{"id":4182,"date":"2018-06-02T00:28:51","date_gmt":"2018-06-01T18:58:51","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=4182"},"modified":"2021-08-11T11:49:29","modified_gmt":"2021-08-11T06:19:29","slug":"corporate-and-professional-updates-2nd-june-2018","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-2nd-june-2018\/","title":{"rendered":"corporate and professional updates 2nd june 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-69d04a422781c\" 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-69d04a422781c\"  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-2nd-june-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-2nd-june-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-2nd-june-2018\/#FAQ_on_E-WAY_BILLS\" title=\"FAQ on E-WAY BILLS:\">FAQ on E-WAY BILLS:<\/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-updates-2nd-june-2018\/#RBI_Update\" title=\"RBI Update:\">RBI Update:<\/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-updates-2nd-june-2018\/#SEBI_updates\" title=\"SEBI updates\">SEBI updates<\/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-updates-2nd-june-2018\/#MCA_UPDATES\" title=\"MCA UPDATES\">MCA UPDATES<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-2nd-june-2018\/#KEY_DATE\" title=\"KEY DATE:\">KEY DATE:<\/a><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Direct_Tax\"><\/span><img decoding=\"async\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/07\/1-768x433.jpg\" alt=\"Image result for corporate and professional updates\" \/><strong><em><span style=\"text-decoration: underline;\">Direct Tax:<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li>Jaipur ITAT deletes disallowance u\/s 40A(3) with respect to cash payment made by assessee-firm (engaged in real estate business) against purchases of land during AY 2013-14, observes that the\u00a0payment was made out of the explained sources, through the registered document and as a disclosed transaction and the\u00a0identity of the sellers and genuineness of\u00a0\u00a0transaction was established; Notes that only at the insistence of specific sellers, assessee withdrew cash and made payment to them despite having sufficient bank balance, observes that\u00a0in order to secure the deal, assessee had no other option but to make the payment in cash;\u00a0[TS-276-ITAT-2018(JPR)]<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Delhi ITAT refuses to delete Rs. 489 cr capital gains addition, however gives one more chance to assessee (Gagan Infraenergy) to establish the &#8216;genuineness&#8217; and &#8216;validity&#8217;\u00a0of \u00a0the \u00a0transaction that it claims, is &#8216;gifting&#8217;\u00a0of 1.76 cr shares to another co.; Gagan Infra&#8217;s\u00a0counsel argued that the\u00a0company\u00a0gifted 1.76 cr shares that it held in Jindal Steel (flagship operating co.\u00a0of\u00a0O.P. Jindal group), to another co., pursuant to a &#8220;family realignment&#8221; of\u00a0O.P. Jindal Group;[TS-275-ITAT-2018(DEL)]<\/li>\n<li><a href=\"https:\/\/carajput.com\/income-tax-services.php\">Income Tax<\/a> Deptt launched and activated all the seven <a href=\"https:\/\/carajput.com\/income-tax-services.php\">ITR<\/a> forms for e-filing by taxpayers, after more than a month of them being notified.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Indirect_Tax\"><\/span><strong><em><span style=\"text-decoration: underline;\">Indirect Tax:<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li>CBEC has made amendment by way of notification no 4\/2017-<a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">Central Ta<\/a>x (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. 676 (E), dated the 28th June, 2017.<\/li>\n<li>Due date for filing <a href=\"https:\/\/carajput.com\/gst\/gst-return.php\">GSTR-6<\/a> by ISD for July, 2017-June, 2018 is extended till\u00a031.07.2018. Notification to be issued shortly. Source:\u00a0twitter- cbic.gov.in<\/li>\n<li>Government has refuted exporters\u2019 claim that Rs 20,000 crore of <a href=\"https:\/\/carajput.com\/gst\/gst-refund.php\">GST refund<\/a> is pending, and said there has been no dip in refunds as it announced a special refund fortnight beginning May 31.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"FAQ_on_E-WAY_BILLS\"><\/span><strong><em><span style=\"text-decoration: underline;\">FAQ on E-WAY BILLS:<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li><span style=\"text-decoration: underline;\">Query:<\/span>How does taxpayer enter Part-A details and generate e-way bill, when he is transporting goods himself?<\/li>\n<li><span style=\"text-decoration: underline;\">Answer:<\/span>Sometimes, taxpayer wants to move the goods himself. E-way bill Portal expects the user to enter transporter ID or vehicle number. So if he wants to move the goods himself, he can enter his GSTIN in the transporter Id field and generate Part-A Slip. This indicates to the system that he is a transporter and he can enter details in Part-B later when transportation details are available.<\/li>\n<\/ul>\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 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"RBI_Update\"><\/span><strong><em><span style=\"text-decoration: underline;\">RBI Update:<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li><a href=\"https:\/\/carajput.com\/rbi-consulting.php\">RBI<\/a> has issued notification regarding Withdrawal of Exemptions Granted to Government Owned NBFCs.\u00a0Vide notification no RBI\/2017-18\/181, dated 31st May 2018.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"SEBI_updates\"><\/span><strong><em><span style=\"text-decoration: underline;\">SEBI updates<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li><a href=\"https:\/\/carajput.com\/sebi-consulting.php\">SEBI<\/a> directed rating agencies to set up committees to hear the appeals of issuers aggrieved by the ratings assigned to them. Currently, there is no stipulated mechanism to review such issues.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"MCA_UPDATES\"><\/span><strong><em><span style=\"text-decoration: underline;\">MCA UPDATES<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li>ROC, Delhi &amp; Haryana in its drive to clean the registry has issued notice of striking off of\u00a01171 LLP&#8217;s under Section 75 of LLP Act, 2008 read with Rule 37 of LLP Rules, 2009.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"KEY_DATE\"><\/span><span style=\"text-decoration: underline;\"><em><strong>KEY DATE<\/strong>:<\/em><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li>QUARTERLY RETURN FOR REGISTERED PERSONS WITH AGGREGATE TURNOVER UP TO RS. 1.50 CRORES: GSTR-1 :-31. JULY\u00a02018<\/li>\n<li>TURNOVER EXCEEDING RS. 1.5 CRORES OR OPTED TO FILE MONTHLY RETURN:<a href=\"https:\/\/carajput.com\/gst\/gst-return.php\"> GSTR-1<\/a> (MAY2018):-10 JUNE 2018<\/li>\n<li>DUE DATE FOR FILLING GST TRAN-2- 30.06.2018<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Direct Tax: Jaipur ITAT deletes disallowance u\/s 40A(3) with respect to cash payment made by assessee-firm (engaged in real estate business) against purchases of land during AY 2013-14, observes that the\u00a0payment was made out of the explained sources, through the registered document and as a disclosed transaction and the\u00a0identity of the sellers and genuineness of\u00a0\u00a0transaction &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":[1643,1209,1642,558,1637,1644],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/4182"}],"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=4182"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/4182\/revisions"}],"predecessor-version":[{"id":15366,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/4182\/revisions\/15366"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=4182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=4182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=4182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}