{"id":4447,"date":"2018-06-28T00:37:35","date_gmt":"2018-06-27T19:07:35","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=4447"},"modified":"2021-08-10T18:04:08","modified_gmt":"2021-08-10T12:34:08","slug":"corporate-and-professional-updates-28th-june-2018","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-28th-june-2018\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATES 28TH 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-69d2c56a9ecfc\" 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-69d2c56a9ecfc\"  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-28th-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-28th-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-28th-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-28th-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-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-28th-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-28th-june-2018\/#RBI_UPDATES\" title=\"RBI UPDATES\">RBI 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-28th-june-2018\/#KEY_DATE\" title=\"KEY DATE:\">KEY DATE:<\/a><ul class='ez-toc-list-level-5'><li class='ez-toc-heading-level-5'><ul class='ez-toc-list-level-5'><li class='ez-toc-heading-level-5'><ul class='ez-toc-list-level-5'><li class='ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-28th-june-2018\/#QUARTERLY_RETURN_FOR_REGISTERED_PERSONS_WITH_AGGREGATE_TURNOVER_UP_TO_RS_150_CRORES_GSTR-1_-31_JULY_2018\" title=\"QUARTERLY RETURN FOR REGISTERED PERSONS WITH AGGREGATE TURNOVER UP TO RS. 1.50 CRORES: GSTR-1 :-31. JULY\u00a02018\">QUARTERLY RETURN FOR REGISTERED PERSONS WITH AGGREGATE TURNOVER UP TO RS. 1.50 CRORES: GSTR-1 :-31. JULY\u00a02018<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-28th-june-2018\/#DUE_DATE_FOR_FILLING_GST_TRAN-2-_30062018\" title=\"DUE DATE FOR FILLING GST TRAN-2- 30.06.2018\">DUE DATE FOR FILLING GST TRAN-2- 30.06.2018<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p style=\"text-align: justify;\"><img decoding=\"async\" src=\"https:\/\/scintilladigi.com\/wp-content\/uploads\/2017\/07\/corporate-film-making-company.jpg\" alt=\"Image result for corporate\" \/><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Direct_Tax\"><\/span><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>Karnataka HC dismisses Revenue\u2019s appeal challenging ITAT\u2019s comparables selection for software developer assessee for AY 2006-07, lays down law on interpretation of \u2018substantial question of law\u2019 in respect of appeals against comparables selection in TP cases;\u00a0[TS-475-HC-2018(KAR)- TP]<\/li>\n<li>Mumbai ITAT upholds CIT(A)\u2019s order accepting separate benchmarking of assessee\u2019s transactions under Business model 1 &#8211; receipt of marketing &amp; support services from AE (choosing foreign AE as tested party) and Business model 2 &#8211; assessee\u2019s rendering of ITeS to AE (choosing assessee as tested party) for AY 2004-05;\u00a0[TS-474-ITAT-2018(Mum)-TP]<\/li>\n<li><a href=\"https:\/\/carajput.com\/income-tax-services.php\">Income-tax<\/a> department has attached over 1,500 unaccounted properties worth Rs 43 billion across the country within one and a half years of the introduction of the revised benami legislation. Jaipur and Mumbai top the list, with attachments of 200 each.<\/li>\n<li><a href=\"https:\/\/carajput.com\/tds.php\">TDS<\/a>, TCS and Reverse Charge Mechanism under Gst provisions kept on hold till 30th September.<\/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>Indirect tax department has issued notices to companies that added cash balance lying in their personal ledger account (PLA) to the transitional credit when the tax system moved to <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a>, triggering panic among such companies.<\/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>Whether the e-way bill can be cancelled?\u00a0 If yes, under what circumstances?<\/li>\n<li><span style=\"text-decoration: underline;\">Answer:<\/span>Yes, e-way bill can be cancelled if either goods are not transported or are not transported as per the details furnished in the e-way bill.\u00a0 The e-way bill can be cancelled\u00a0within 24 hours\u00a0from the time of generation.<\/li>\n<\/ul>\n<p>Read our articles:<\/p>\n<ul>\n<li><a href=\"https:\/\/carajput.com\/blog\/e-invoice-mechanism-under-the-gst\/\">E-Invoice Mechanism under the GST<\/a><\/li>\n<li><a href=\"https:\/\/carajput.com\/blog\/blocking-the-e-way-bill-creation-system-if-fails-to-file-gstr-3b-gstn\/\">Blocking\/Unblocking the E-Way Bill creation system if fails to file GSTR-3B: GSTN<\/a><\/li>\n<li><a href=\"https:\/\/carajput.com\/blog\/reasons-for-the-movement-of-goods-under-the-gst\/\">Reasons for the Movement of Goods under the GST<\/a><\/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>MCA has taken an initiative to introduce a chapter on Cross-Border Insolvency within the Insolvency &amp;Bankruptcy Code, 2016\u00a0to provide a comprehensive legal framework, considering the fact that corporates transact businesses in more than one jurisdiction and also have assets across many jurisdictions.<\/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> issues List of Defaulters as on 31.03.2018 For Non-Payment of Penalty imposed by SEBI through Orders Passed Upto 31.12.2017.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"RBI_UPDATES\"><\/span><strong><em><span style=\"text-decoration: underline;\">RBI UPDATES<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li>The <a href=\"https:\/\/carajput.com\/rbi-consulting.php\">Reserve Bank of India<\/a> has imposed a monetary penalty of \u20b9 1,00,000\/- (Rupees one lakh only) on Northern Railway Multi-state Primary Co-operative Bank Ltd., Lucknow in exercise of powers vested in it under the provisions of Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949.\u00a0\\<\/li>\n<li>The Reserve Bank of India has imposed a monetary penalty of \u20b9 1,00,000\/- (Rupees one lakh only) on Urban Co-operative Bank Ltd., Basti in exercise of powers vested in it under the provisions of Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949.<\/li>\n<li>RBI has come out with draft guidelines on constituting a board of management (BoM) in addition to the board of directors, for urban cooperative banks (UCBs), with the aim of strengthening the governance in these banks. The BoM will be responsible for credit, risk and liquidity management.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"KEY_DATE\"><\/span><strong><em>KEY DATE<\/em><\/strong>:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li>\n<h5><span class=\"ez-toc-section\" id=\"QUARTERLY_RETURN_FOR_REGISTERED_PERSONS_WITH_AGGREGATE_TURNOVER_UP_TO_RS_150_CRORES_GSTR-1_-31_JULY_2018\"><\/span><strong>QUARTERLY RETURN FOR REGISTERED PERSONS WITH AGGREGATE TURNOVER UP TO RS. 1.50 CRORES: GSTR-1 :-31. JULY\u00a02018<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<\/li>\n<li>\n<h5><span class=\"ez-toc-section\" id=\"DUE_DATE_FOR_FILLING_GST_TRAN-2-_30062018\"><\/span><strong>DUE DATE FOR FILLING GST TRAN-2- 30.06.2018<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Direct Tax : Karnataka HC dismisses Revenue\u2019s appeal challenging ITAT\u2019s comparables selection for software developer assessee for AY 2006-07, lays down law on interpretation of \u2018substantial question of law\u2019 in respect of appeals against comparables selection in TP cases;\u00a0[TS-475-HC-2018(KAR)- TP] Mumbai ITAT upholds CIT(A)\u2019s order accepting separate benchmarking of assessee\u2019s transactions under Business model 1 &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":[2707,2708,1455,2712,558,2709,2711,2710,322,2713],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/4447"}],"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=4447"}],"version-history":[{"count":4,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/4447\/revisions"}],"predecessor-version":[{"id":15322,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/4447\/revisions\/15322"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=4447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=4447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=4447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}