The most critical part in GST is determining the location of place of supply of goods and services outside India. Section 11 and section 13 of the IGST Act, 2017, contains the provisions of determining the place of supply outside India. As per Section 7(5) of the IGST Act, 2017 Supply of goods or services […]
Introduction of Bonus Shares Bonus issue means offer of free additional shares to the existing shareholders. A company may decide to distribute further shares as an alternative to increase dividend payout. Bonus shares may be issued by company to restructure the company’s reserves. Issue of bonus shares will increase the company’s cash flow but the […]
Brief Summary of Companies Fresh Start Scheme, 2020: -Companies Fresh Start Scheme, 2020 Provides opportunity to defaulting Companies to make a fresh start on a clean slate. -It is a one-time opportunity all pending compliances by filing necessary documents in the MCA-21 registry without being subject to higher additional fees on account of any delay. […]
Alakh Alok Srivastava Vs Union of India (Supreme Court of India) We expect the Media (print, electronic or social) to maintain a strong sense of responsibility and ensure that unverified news capable of causing panic is not disseminated. A daily bulletin by the Government of India through all media avenues including social media and forums […]
Tariff Notification No. 36/2020-Customs (N.T.), Dated: 31.03.2020 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seed, Areca nut, Gold & Silver Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 36/2020-CUSTOMS (N.T.) New Delhi, 31st March, 2020 11 Chaitra, 1942 (SAKA) […]
Notification No. 58/2015-2020- Amendment in import policy of Iron & Steel and incorporation of policy condition in Chapter 72, 73 and 86 of ITC (HS), 2017, Schedule – I (Import Policy)- One-time relaxation is provided through extension of validity to 135 days of the automatic registration number generated under SIMS till 31.03.2020. MINISTRY OF COMMERCE […]
Industrial Development Scheme (IDS), 2017 for the Union Territory of Jammu and Kashmir, and the Union Territory of Ladakh- The Scheme will be effective from 15.06.2017 upto 31.03.2021, or upto such date as specified under any order issued in suppression of this order.
Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2020- small account shall remain operational between 1st April, 2020 and 30th June 2020 and such other periods as may be notified by the Central Government. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 31st March, 2020 G.S.R. 228(E).—In exercise of the powers conferred by […]
1. The general understanding / consensus among lawyers and law firms in India is that they are not required to obtain registration under the GST law and accordingly are not required to pay GST on their supply of legal services in India. This understanding to a large extent is legally correct, however there are certain […]
This article mainly covers various aspects for the prior permission of RBI for acquisition/transfer of control of NBFC which may or may not result in change in management or takeover of NBFC Company. 1. Events leading to Change of Management or Control It could be complete sale by existing shareholders to new set of promoters, […]
