Consistent with the needs of branch licencing and financial inclusion policies as well as the need for requisite coverage of additional dimensions / features, a new reporting system, viz., Central Information System for Banking Infrastructure (CISBI) (https://cisbi.rbi.org.in), has been web-deployed to replace the legacy MOF system.
In order to ensure greater professionalism among promoters, bring a certain level of consistency in the practices of promoters, enforcement of code of conduct and to discourage fraudulent promoters, it is proposed to introduce Self-Regulatory Organization (SROs) in the real estate sector in Maharashtra and register them with MahaRERA. Details are given below MAHARASHTRA REAL […]
Dooray, which had its registered office in Ameerpet and factory in Vishakhapatnam, was incorporated on June 14, 1995. It had a negative net worth at the end of March, 2004 and consequently was declared a sick company by the Board for Industrial and Financial Reconstruction (BIFR) on February 14, 2007.
On April 17, 2019, Jet Airways (India) Limited (Jet Airways) announced that it would cease its operations and on June 20, 2019, the corporate insolvency resolution process (CIRP) of the company began. This is the first airline insolvency under the Code and is bound to bring forth unique issues arising out of an insolvency in the aviation sector.
Chapter I; of Part II of the Insolvency and Bankruptcy Code, 2016 (Code) provides a fast- track process for the resolution of insolvency of small companies, start-ups, and unlisted companies with total assets below Rupees.
Definition of Foreign Company: ♦ As per definition given under Section 2 (42) of the Companies Act, 2013; “foreign company” means any company or body corporate incorporated outside India which,— (a) has a place of business in India whether by itself or through an agent, physically or through electronic mode; and (b) conducts any business […]
GST Council in the 37th meeting held on 20th September, 2019 at Goa inter-alia, decided to lower GST rates on hotel tariff, outdoor catering and other miscellaneous items. To give effect to its decision they have issued Notification No. 20/2019-Central Tax (Rate) dated 30th September, 2019 NATURE OF SERVICE PARTICULARS TAXABLE AMOUNT TAX RATE CONDITIONS […]
Below are some of the important amendments made to CGST Rules 2017, vide Notification No. 49/2019 – Central Tax dated 9th October 2019: 1. Insertion of sub-rule (3) in Rule 36- Input tax credit to be availed by a registered person in respect of invoices or debit notes, the details of which have not been uploaded […]
Circular No. 121/40/2019-GST- CBIC clarifies that service by way of grant of alcoholic liquor licence, against consideration in the form of licence fee or application fee or by whatever name it is called, by State Government is neither a supply of goods nor a supply of service. this special dispensation applies only to supply of […]
CBIC Clarification on the effective date of explanation inserted in notification No. 11/2017- CTR dated 28.06.2017, Sr. No. 3(vi) vide Circular No. 120/39/2019- GST Dated: 11th October 2019.
