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Archive: 12 January 2020

Posts in 12 January 2020

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7017 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

SVLDR Scheme 2019 | For closing past litigations or to create new litigations?

January 12, 2020 5547 Views 6 comments Print

Whether Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019, is for closing of the past litigations or to create new litigations? It has been more than two and half years since implementation of GST in India. However, there are huge pending litigations from pre-GST regime. Therefore, with a view to quick closure of these litigations, various […]

Can Value of Resolution Plan be Lower than Liquidation Value? : SC Resolves

January 12, 2020 3351 Views 1 comment Print

Issue 1: Whether the scheme of the Code contemplates that the sum forming part of the resolution plan should match the liquidation value or not? Issue 2: Whether Section 12-A is the applicable route through which a successful Resolution Applicant can retreat?

ITC Restriction under GST to 10%

January 12, 2020 39312 Views 1 comment Print

Input Tax Credit (ITC) is the credit available towards tax paid on inputs which are used or intended to be used for in the course or furtherance of business. Input Tax Credit is the backbone of GST structure. The success of GST depends upon the smooth flow of ITC. Having too many restrictions on the […]

Resignation of Partner from Limited Liability Partnership (LLP)

January 12, 2020 113208 Views 5 comments Print

Limited Liability partnership (LLP) is hybrid of partnership and company. It is a partnership but comes with limited liability i.e. in the case of dissolution of business the partner’s personal property is not put at stake, only the property owned by business are attached. In India, it is introduced in 2008. The Limited Liability Partnership Act […]

Can Private Company Give Loan or Guarantee for Directors Bank Loan?

January 12, 2020 22086 Views 0 comment Print

Can A Private Company Give Loan Or Guarantee For Director Taking Loan From Bank? Section 185- Loan To Directors, Etc. As per Section 185(1) a company cannot advance any loan, including any loan represented by a book debt to, or give any guarantee or provide any security in connection with any loan taken by any […]

Validity of the direct recovery of Interest under GST?

January 12, 2020 25140 Views 7 comments Print

While the principle issue of interest liability is still pending, it is observed that the GST department across the country has been issuing letters asking the taxpayers to remit the interest on Gross GST liability and if not paid within 7 days of the letter, the Bank accounts are being attached and the amount is recovered directly.

Doctrine of “Subrogation” Under Insurance

January 12, 2020 43203 Views 0 comment Print

SUBROGATION means substitution of a person or group by another in respect of a debt in insurance claim, accompanies by the transfer of any associated rights and duties.

Expectation from Budget 2020 in context of IBC 2016 on Tax Front

January 12, 2020 1758 Views 2 comments Print

1. Existing provisions u/s 153 of I-Tax act 1961 prescribes various limitation periods for completion of assessments under I-Tax act 1961. The IBC act 2016 stipulates as per section 60(6) that moratorium period be excluded from Limitation period. However I-Tax authorities never accept the overriding power of IBC’s as per section 238 of IBC 2016 […]

Lease & rental Services With or Without Operators under GST

January 12, 2020 80193 Views 5 comments Print

Before discussing the Subject ‘GST on Lease & rental Services With or Without Operators’ it is important to under the meaning of Lease, Rental and License. 1. Meaning of lease under GST Scenario: A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (Owner) for use of an asset. Like […]

Comparison of Sole Proprietorship and OPC

January 12, 2020 26640 Views 0 comment Print

If you as an existing or aspiring entrepreneur would like to decide whether to switch to OPC structure or not then this article will surely guide you the path.

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