From this week, exporters who paid Goods and Services Tax (GST) can claim for refunds for the month of August and September. As per Chief Executive, GST Network (GSTN) will launch separate online application this week for claiming Integrated GST (IGST) would be made available from this week. This app is developed wherein exporters can … Continue reading “Exporters who paid GST can claim for Refund This Week”
While seeking a refund under GST Laws, the refund application shall be accompanied by:
When a dividend is declared by a company but has not been paid or claimed within 30 days, the company shall transfer the amount to an Unpaid Dividend Account. If the money transferred to the Unpaid Dividend Account remains unpaid or unclaimed for a period of 7 years from the date of transfer, the amount shall be transferred to the Investor Education & Protection Fund.
Section 18 (1) gives two kinds of rights to the homebuyers i.e. right to get a Refund along with Interest and the Right to get Compensation.
The Consumer Protection Act is a wide-ranging provision and it is not a specific resolution like the Insolvency ad Bankruptcy Code and the remedies are simultaneously and mutually exclusive.
RERA Act grants the remedy to the homebuyers where they can file a complaint under section 31 of RERA Act and can claim interest for delay in possession by the developers. Homebuyers must seek legal assistance without delaying.
Section 18(1) of the RERA Act provides for ‘Return of amount and compensation’ which is the base for complaint under section 31 seeking refund, interest and compensation.
Hon’ble SC clarified the position of the homebuyers similar to that of a “financial creditor” under the IBC, after this the homebuyers were at a par with banks and financial institutions.
In a landmark order, the MAHARERA has gone a step ahead in safe guarding the rights of the Homebuyer’s and allowed refund when the developer could not get the Completion Certificate. This will help the buyers protect their money in cases where project is sold and developer fails to get the basic certificates for construction.
A milestone judgement by the MahaRERA Authority to ensure the development of the real estate industry by protecting the homebuyer’s interest by balancing the rights of homebuyers as well as project developers.
The homebuyers who have got RERA refund orders and if builder has defaulted in making the payment, you can file case before NCLT under IBC laws
Builders requested that Refund and penal orders to be set aside or be reviewed due to the COVID-19 outbreak financial markets are seeing an all-time low.
The Hon’ble Adjudicating Officer took no time and in the short period of a span, gave relief to several homebuyers by granting not only refund but also compensation.
MREAT directed the developers to refund the forfeited amount of Rs. 8.14 lakhs to Jagdish Patel and Pravin Patel within two months.
MahaRERA directs the respondent to refund the amount paid by the complainants to the respondent along with interest under Section-18 of the RERA.
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