Section 297 applicability
This query is : Resolved
27 May 2011
Our is a private Limited Company . We are purcahsing one of the raw material from our Group company which is public limited company .We are having one common director in both the companies and ultimate holding company is same for us .Now whether section 297 is applicable to our purchase from our group company . Is section 297 applicable to public limited company only not to private limited company .
27 May 2011
Hi....
From your Company's perspective, provisions of Section 297 will not be applicable.
However, from the other Party's perspective, which is a Public Limited Company, the provisions of section 297 will be applicable and must be complied with.
Section 297 is applicable to both Public and Private Limited Company in case of contracts between the specified parties.
God Bless
CS Udit Sharma
From your Company's perspective, provisions of Section 297 will not be applicable.
However, from the other Party's perspective, which is a Public Limited Company, the provisions of section 297 will be applicable and must be complied with.
Section 297 is applicable to both Public and Private Limited Company in case of contracts between the specified parties.
God Bless
CS Udit Sharma
Message likes :
1 times
28 May 2011
Dear Expert
Thanks for the guidance . Can u please explain furhter on this subject for clarity
Thanks for the guidance . Can u please explain furhter on this subject for clarity
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
