"23 February 2020" Archive - Page 2

MCA invite Comments on Competition (Amendment) Bill, 2020

Public comments are therefore hereby solicited on the draft Competition (Amendment) Bill, 2020. Copy of the CLRC Report, Competition Act, 2002 as well as Draft Competition (Amendment) Bill may be accessed at the web link mentioned below and comments, if any, may be submitted online therein by end of business hours on 06th March, 2020 posi...

Posted Under: Corporate Law |

Provisional Assessment Under GST Needs Reforms?

The provisions regarding the provisional assessment under GST is given under section 60 of the CGST Act and the corresponding rule is given under Rule 98 of the CGST Rules 2017. Let us begin the discussion with the note that why the provisional assessment is  needed at all .The Sec.60 of the CGST Act 2017 […]...

Posted Under: Corporate Law |

Liability of directors of Private Company in liquidation for tax dues

LIABILITY OF DIRECTORS OF PRIVATE COMPANY IN LIQUIDATION FOR PAYMENT OF TAX DUES Section 179 of Income Tax Act, 1961, provides that, where any tax due from a private company in respect of any income of any previous year or from any other company in respect of any other income of any previous year during […]...

Posted Under: Corporate Law |

‘Access card’ printed & supplied based on contents provided by customers- supply of goods

Access card printed and supplied by the appellant based on the contents provided by their customers is supply of goods and is rightly classifiable under HSN code 4901 10 20 under the description brochures, leaflets and similar printed matter whether or not in single sheet. The access card printed and supplied by the appellant attracts [&h...

Posted Under: Corporate Law |

TDS Section 194M

What is Section 194M, Reason for the introduction of Section 194M, What is the meaning of ‘work’, ‘contract’, and ‘professional services’ in Section 194M, Who has to deduct TDS under section 194M, When can one deduct tax at source under section 194M, Rate of TDS under Section 194M and What is the time limit on […]...

Posted Under: Corporate Law |

Preparation For New Export Remission Scheme: Remission of Duties & Taxes On Export Products (RODTEP)

A New Scheme Remission of Duties & Taxes on Export Products (RoDTEP) is being drafted by The Ministry of Commerce to replace the existing Schemes. The Ministry is deliberating with Trade & Industry and has already issued circulars for Trade to propose to them on the suggested benefits for their Industry.  It is the right time for Trade &...

Posted Under: Corporate Law |

Vivad se Vishwas-An Analysis

Article analyses Vivad se Vishwas Scheme Proposed by Central Government for disputed Direct Tax Dues and explains Salient features of Vivad se Vishwas bill, 2000 and issues which may arise or which arises on which Government needs to clarify. Tax amnesty/dispute resolution schemes are introduced by the countries world over and are adverti...

Posted Under: Corporate Law |

Views on Enhancing Audit Independence & Accountability

In this article author gives his views on the Consultation Paper with Justification to Examine the Existing Provisions of Law and Make Suitable Amendments therein to Enhance Audit Independence and Accountability...

Posted Under: Corporate Law |

Insolvency and Bankruptcy (Amendment) Ordinance, 2019: A Critique

Since its inception, the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “the Code”) has ushered in a new financial culture, which is responsive and vibrant. The Code has yielded positive outcomes by way of bringing in a systematic and institutionalized framework in restructuring of stressed assets from the debt-ridde...

Posted Under: Corporate Law |

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December 2023