Supreme Court declined to interfere in Revenue’s Special Leave Petitions, for use of ‘C’ Forms of the Central Sales Tax Act, 1956 (CST Act) post GST in respect of purchase of six commodities (petroleum crude, diesel, petrol, aviation turbine fuel, natural gas and liquor) for use in the course of inter- state trade or commerce by the Assessee.
Reserve Bank of India RBI takes supervisory action on Card Networks – American Express Banking Corp. and Diners Club International Ltd The Reserve Bank of India (RBI) has, by order dated April 23, 2021, imposed restrictions on American Express Banking Corp. and Diners Club International Ltd. from on-boarding new domestic customers onto their card networks […]
This new Form NFRA-2 has to be filed by the Statutory Auditor of the Company in pursuance of section 132 of Companies Act, 2013 and Rule 5 of NFRA Rules, 2018.
SECTION 2(15): defines Charitable Purpose significant includes relief of the poor, education, medical relief and SECTIONS 11, 12, 12A, 12AA,12AB and 13 deal with scheme of tax exemption in respect of income, its application and accumulation of charitable trusts/ institution subject to fulfilment of certain conditions.
In a recent ruling, the Uttar Pradesh Authority for Advance Ruling (‘AAR’) has ruled that Input Tax Credit (ITC) shall be available on expenses incurred to comply with the requirements of Corporate Social Responsibility (CSR) under Companies Act, 2013 (CSR Expenses).
Every year young students, full of energy, perseverance and enthusiasm, take professional courses as company secretaries (CS) to become professional and successful in their careers and lives. The Institute of Corporate Secretaries of India, a body required by the law of Parliament, holds foundation, executive and professional level examinations for courses every June and December. […]
What is Startup India Seed Fund Scheme? Easy availability of capital is essential for entrepreneurs at the early stages of growth of an enterprise. Funding from angel investors and venture capital firms becomes available to startups only after the proof of concept has been provided. Similarly, banks provide loans only to asset-backed applicants. It is essential to provide seed funding to startups with an innovative idea to conduct proof of concept trials.
Bala Ji Manpower Services Vs. Union of India & others (High Court Of Punjab & Haryana) The only question that requires adjudication is at what rate petitioner is liable to pay interest i.e. 15% or 24%. Admittedly, the petitioner firm started its service after completing registration formalities in July, 2011 and the respondents have calculated […]
The power under Section 482 of the Code of Criminal Procedure may not be available to the Court to countenance the breach of a statuary provision under Sections 14 and 17 of the Insolvency and Bankruptcy Code (IBC).
Maharashtra VAT assessments – Denial of Set-off denied and Addition to turnover in an arbitrary way – Need for revamp of assessment procedure 1. The procedure followed in VAT assessments under Maharashtra VAT Act has been putting the dealers to severe hardship, so far as it relates to denial of set-off and addition to turnover […]
