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Archive: 11 June 2020

Posts in 11 June 2020

Wrongful Availment of ITC – Anticipatory Bail granted on bond of Rs.10 lacs

June 11, 2020 1557 Views 0 comment Print

The issue under consideration is that the petitioner filed writ petition for seeking grant of anticipatory bail, whether HC allow him the grant or not?

Brief about NRE Account and NRO Account

June 11, 2020 5619 Views 0 comment Print

Article explains about Non- Resident (External) Rupee Account Scheme – NRE Account and Non-Resident Ordinary Rupee Account Scheme – NRO Account. Particulars Non- Resident (External) Rupee Account Scheme – NRE Account (Schedule – 1) Non-Resident Ordinary Rupee Account Scheme – NRO Account (Schedule – 3) Eligibility A. Non-resident Indians (NRIs), B. Person of Indian Origin […]

Nidhi Companies | Section 406 | Companies Act, 2013

June 11, 2020 6600 Views 0 comment Print

What is Nidhi Company NIDHI COMPANY means a company which is governed by the Section 406 of the Companies Act,2013 with Nidhi rules, 2014 which is enforced by the legislation for the regulation of Nidhi Companies. NIDHI COMPANY in India is only incorporated with a single objective or purpose to cultivating the habit of thrift […]

Moody’s Indian credit rating: A lively discussion from history

June 11, 2020 876 Views 0 comment Print

Indian credit rating by Moody and its down graded position at negative from stable is not some thing one did not expect. As an ex banker and reader of economic situation since 1973, I have seen the downward economic condition of India, as perceived by Western credit agencies. But do I get perturbed and start […]

RCM on Director Remuneration – Clarification

June 11, 2020 3660 Views 0 comment Print

As per the S.No. 6 of Notification No.13/2017 – Central Tax (Rate) dtd. 28.June.2017, following entry is given Category of Supply of Service: Services supplied by a director of a company or a body corporate to the said company or the body corporate. Supplier of Service: A director of a company or a body corporate […]

Levy of GST on Directors’ remuneration – CBIC Clarification

June 11, 2020 1092 Views 0 comment Print

The question of whether GST on reverse charge is applicable on Directors’ remuneration had been in debate for some time now, with contradictory views expressed by different authorities in the process of litigation. CBIC has now issued a Clarification w.r.t. levy of GST on Directors’ remuneration. Vide this circular issued on 10th May, 2020, it […]

Valuation – An Art or science?

June 11, 2020 14928 Views 0 comment Print

Tanvi Pahwa* In today’s dynamic world every organisation feels the need to know the worth of value of its assets, business or even the company.  Valuation in simple terms means the economic value or worth of a business, asset or company.

Buy policy covering accident insurance & hospitalisation at accident insurance cost

June 11, 2020 1962 Views 0 comment Print

Buy a policy which covers your accident insurance and hospitalisation at cost of an accident insurance You are really lucky if you don’t have to travel by rail or road for work. Besides escaping the daily grind of traveling in over-crowded trains and buses, you are also escaping the risk of meeting an accident or […]

Valuation Under Goods & Services Act

June 11, 2020 20649 Views 4 comments Print

Valuation Under GST: It is important to know the how to arrive at the value on which tax is to be paid. The valuation of supply is important as the tax liability is depends upon it. In day to day business, we deal with many transactions and at that time confusion arises related to valuation […]

Abuse of Judicial process by the Rich & the Powerful

June 11, 2020 1902 Views 1 comment Print

It is common knowledge that the rich & the powerful abuse the process of law by litigating settled issues repeatedly with the aid of leading advocates, knocking the doors of higher courts over trivial issues and against interlocutory orders. It is also prevalent to get the appeal/SLP admitted in the higher courts in important matters […]

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