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SEBI Board Meeting – PR No. 24/2021 Dtd. 06th August, 2021 On 06th August, 2021, the Board of SEBI met in Mumbai. In the said meeting, the Board took the following decisions: New SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 The Board considered and approved the merger of SEBI (Issue of Sweat Equity) […]
Per High court judgment in the case of Greenwood Owners Association & Ors. v. Union of India & Ors.(2021) 36 J.K.Jain’s GST & VR 57 (Mad), monthly contribution of members collected by Resident Welfare Associations (RWA) are Liable to GST on contribution exceeding Rs.7500/- under HSN code 9995. The circular No.109/28/2019 dated 22.7.2019 issued by […]
To attract foreign investment so to have boost in recovering economy from COVID-19 slowdown, to provide tax certainty to foreign investors, and to provide a positive message to foreign investors to invest in India by assuring tax certainty the Government of India on 04th August 2021 introduced a Bill in the Parliament to amend Explanation […]
Insolvency and Bankruptcy Board of India (IBBI) signs a Memorandum of Understanding (MOU) with National Stock Exchange (NSE) of India for research collaboration Insolvency and Bankruptcy Board of India Notification No. IBBI/PR/2021/17 6th August, 2021 Insolvency and Bankruptcy Board of India signs a Memorandum of Understanding with National Stock Exchange of India for research collaboration […]
It is five years now since the enactment of The Insolvency and Bankruptcy Code, 2016 and both the Financial Creditors and Operational Creditors have taken recourse under the Code for insolvency resolution. As per IBBI data, as of March 2021, with regard to realizations under resolutions, the recovery for all classes of creditors, as compared […]
Latest Update on IBC Gist of Report of Standing Committee on Finance ‘Implementation of IBC- Pitfalls and Solutions‘- on IBC 2016 On 28th July 2021 Lok Sabha had passed the Insolvency and Bankruptcy Code (IBC) Amendment Bill, 2021 and on 3rd August 2021 Rajya Sabha had passed the same and it has become Insolvency and […]
The SEBI vide Corrigendum dated 06th August, 2021 has provided the much-needed clarity. It has deferred the effective date of applicability of the amendments notified by it in the SEBI (LODR) Regulations, 2015 vide Notification No. SEBI/LAD-NRO/GN/2021/35 on 3rd August, 2021 [SEBI (LODR) (Third Amendment) Regulations, 2021]. Accordingly, the words “They shall come into force […]
Introduction The Prime minister and its council of ministers on June 2 approved The Model Tenancy Act, 2021(MTA)[i] by introducing a new codification of law, thereby altering the existing law. The new model act is expected to improve the existing laws. The act tries to reduce the disputes between the parties by clearly stating the […]
It was also argued that the respondent Assessing Officer has also committed an error in giving only four days’ time to the petitioner to respond to the show cause notice.
Quasi Judicial authorities are independent, bound by law but not by administrative instructions The officials of the sales tax department are administrative authorities. However, such of the officials as are vested with jurisdiction to assess. The business transactions of the dealers to tax, discharge function which is judicial in nature. The function though administrative is […]
