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Archive: 22 March 2021

Posts in 22 March 2021

Format of Resignation Letter by Director

March 22, 2021 160155 Views 0 comment Print

Date: ———— To The Board of Directors [Name of the Company] [Address———-] Sub: Resignation Letter Dear Sir/Madam, I, ———————- R/o —————————————————–, due to personal and unavoidable circumstances, I do hereby tender my resignation from the Directorship of the Company with immediate effect. Kindly accept this letter as my resignation with immediate effect from the post […]

Newly Inserted Sections in Direct Taxes by Finance Act, 2021

March 22, 2021 17643 Views 1 comment Print

In view of the recent changes, the following data provides summary of newly Inserted Sections in Direct Taxes by Finance Act, 2021. Please provide your valuable insights and queries in the comments section. Insertion of New Sections under Direct Taxes by Finance Act, 2021 Summary of Inserted Sections: Section Number Name of Section Section 89A […]

The Wages Code 2019 -Your Take Home Salary May Decline

March 22, 2021 9222 Views 0 comment Print

THE CODE ON WAGES, 2019 Section Sec-1 “Short title,extent and commencement.” (1) This Act may be called the Code on Wages, 2019 (2) It extends to the whole of India (3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette appoint; and different dates may […]

Summary of significant rulings on IBC

March 22, 2021 8445 Views 0 comment Print

1. Significant Supreme Court Judgments: Arun Kumar Jagatramka vs. Jindal Steel and Power Ltd. & Anr. (15 March, 2021): The prohibition placed by the Parliament in Section 29A and Section 35(1)(f) of the Code must also attach itself to a scheme of compromise or arrangement under Section 230 of the Companies Act, 2013, when the […]

National Bank for Financing Infrastructure & Development Bill, 2021 introduced in Lok Sabha

March 22, 2021 807 Views 0 comment Print

National Bank for Financing Infrastructure & Development Bill, 2021 establish the National Bank for Financing Infrastructure and Development to support the development of long term non-recourse infrastructure financing in India including development of the bonds and derivatives markets necessary for infrastructure financing and to carry on the business of financing infrastructure and for matters connected therewith or incidental thereto.

Composite services with training services as principal supply classifiable under SAC 999294 

March 22, 2021 909 Views 0 comment Print

In re Prettl Automotive India Pvt. Ltd. (GST AAAR Maharashtra) It is observed that all the activities being carried out by the Appellant are either ancillary or incidental to the principal supply, which in this case, is the supply of training services since it is not in dispute that all these activities carried out by […]

Startup India Registration – Process and Benefits

March 22, 2021 4428 Views 0 comment Print

In India, population of youngsters is very high and maximum of youngsters have a dream to become entrepreneur. Some of them have a workable business idea in their mind and on paper but due to shortage of funds they face challenges in converting that business idea into reality. To help these entrepreneurs, the Government of […]

GST on Supply of catering services to educational institution

March 22, 2021 15744 Views 0 comment Print

In re Manoj Mittal (GST AAR West Bengal) Whether supply of food and beverages made by the applicant shall be treated as supply of goods or supply of services and whether supply of catering services to an educational institution is exempt supply? (i) Supply of food and beverages from the sweetmeats counter by the applicant, […]

No Objection Certificate by Owner of Premise for use as address by Company

March 22, 2021 240636 Views 0 comment Print

TO WHOMSOEVER IT MAY CONCERN I, ———————— R/o ——————————————- do hereby solemnly certify that I am rightful and absolute owner of the premise situated at <Address of Premise to be use by the Company). I further confirm and declare that I have no objection to use the said premise by the Company as its registered […]

Section 14 of Limitation Act Applies to Application under Section 7 of IBC: SC

March 22, 2021 3534 Views 0 comment Print

Sesh Nath Singh Vs Baidyabati Sheoraphuli Co-Operative Bank Ltd. (Supreme Court) An Adjudicating Authority under the IBC is not a substitute forum for a collection of debt in the sense it cannot reopen debts which are barred by law, or debts, recovery whereof have become time barred. The Adjudicating Authority does not resolve disputes, in […]

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