Section 5 (20) of IBC, ‘an operational creditor’ means a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred or transferred.
Understand the basis and rationale for classification of investment property according to Ind AS 40. Learn how it differs from property for use or sale.
Whole of the world is experiencing entirely unprecedented situation wherein almost all the businesses have been shut or were shut. The world practically has come to a standstill wherein Economic cycle has touched its bottom but to rise from the bottom, there has to be some stimulus from the governments. Various business organisations are giving astronomical figures to be considered as business losses suffered by various economies.
Majority of the SME business entities do not give any attention nor are intended keenly in executing any written contract forget about executing legal documents and most of the business is just done on Trust basis or you can say by keeping it simple by minimising documents at least. Well, trust was earlier had a great […]
1. Create Certainty: Two Parties entering into an document containing Terms and conditions gives a certainty of what product or service will be dealt with, how the payment will be taken care off, how to raise the invoices, other modalities of executing the business, raising of dispute, if any and so on. It is important […]
There are a number of businesses which are being carried out in the World and in fact, if one is aware of the Trademark Classification of Business one will find more than 1000+ types of business and hence having a good Trademark Lawyer always help to identify the relevant class for your brand registration. Some […]
In a pre Covid-19, our economy was not reflecting any encouraging position. The growth rate was around 4.3% and the government has little leeway to provide large stimulus. Now, the Covid-19 pandemic and consequent lock down has totally changed economic equations and life style of the public. Public health, personal hygiene and safety have become […]
Sections 54 to 58 of GST Act’ 2017 deals with refund provisions. For the purposes of this section ‘refund’ includes refund of tax on goods and/or services exported out of India or on inputs or input services used in the goods and/or services which are exported out of India, or refund of tax on the supply of goods regarded as deemed exports, or refund of unutilized input tax credit.
ICAI issued a press release on 01st May 2020 and decided that Due to the existing constraint of communication, members may communicate with the Retiring Auditor vide E-mail, provided an acknowledgement of such communication is received from the Retiring Auditor’s E-mail address registered with the Institute or his last known official E-mail address. Such acknowledgement […]
Financial reporting in India has undergone a significant transformation owing to the adoption of Indian Accounting Standards (Ind AS) and fair value is the guiding principle in financial reporting across the globe. The Institute of Chartered Accountants of India (ICAI) converged accounting standards with IFRSs and accordingly, the financial statements beginning from the accounting year […]
