The 37th GST Council Meeting held on 20th September 2019 introduced some much needed relief to certain industries. Along with that, the Council also sought to introduce some relief to small taxpayers by easing the compliance burden. One of the major reliefs was doing away with the requirement to file Annual Return in Form GSTR-9, […]
Question: Whether recovery of 50% of Parental Health Insurance Premium from employees, amounts to supply of service under Section 7 of the Central Goods and Service Tax Act, 2017?” FACTS OF THE CASE: M/s. Jotun India Private Limited (hereinafter referred to as “the Applicant”), is a registered person under GST Act and is a manufacturer, […]
Key provisions of latest RBI Circular No. RBI/2018-19/203 DBR.No.BP.BC.45/21.04.048/2018-19 dated June 07, 2019 in relation to Resolution of stressed assets. 1. Identification and reporting of stress Lenders shall recognize incipient stress in loan accounts classifying such assets as special mention accounts (SMA) as following: SMA Sub-categories Principal or interest payment overdue SMA-0 1-30 days SMA-1 […]
The government garners a lot of funds from the salaried tax payers. The money collected through these direct taxes gets utilized towards betterment of the society, creation & maintenance of public infrastructure, upliftment of the poor and many other initiatives. Technological advancements has helped large corporates / government agencies make sense of big data and […]
The implications of GST on the sale of capital goods is one of the most baffling subjects. Many questions arise in the minds of taxpayers and professionals such as: GST implications on capital goods that are bought under the erstwhile indirect taxes regime; GST implications in respect of capital goods that are lost, stolen, destroyed […]
A brief discussion about the theoretical basis for cross-border insolvency will help us to understand the issue in the proper perspective. According to Irit Mevorach, the theoretical basis for cross-border insolvency veers around three legal theories, namely Universalism, Territorialism and Modified Universalism
The Fresh Start (FS) Chapter under the personal insolvency provisions in the Insolvency and Bankruptcy Code, 2016 (Code) has generated a fair bit of controversy. Reports in the media seem to have given the impression that this is a ‘loan waiver’ for all small borrowers.
Question: Whether the tax is payable on recovery made by company from the employees It is submitted that applicability of tax on the notice pay recovery is not free from doubt uptill now since there is no precedent judgement which clarifies that the notice pay is taxable or not. I hereby discuss the following points […]
New personal insolvency laws were designed to maximise the potential to promote efficiency and economic development. However, the design of a personal insolvency law and its impact on efficiency and growth are relatively less explored considering that this law is relatively new and still evolving compared to the law on corporate insolvency.
