"26 April 2023" Archive

Influx of Gen Y blue collar workers in Indian manufacturing sector

The Gen Y blue collar worker is a relatively new phenomenon in the manufacturing industry. This generation, sometimes referred to as 'millennials' or 'Generation Y', has grown up with an entirely different set of expectations for their working lives than those of generations past....

Posted Under: Corporate Law |

Convertible Notes: A Comprehensive Guide for Investors and Startups

For any early-stage startup, the valuation is a major issue that can hinder the process of raising funds from investors. Convertible notes can be a great instrument for early-stage startups to raise funds without determining the valuation of the company....

Posted Under: Corporate Law |

Income tax liability and the new ‘wage’ definition

The Indian government has recently proposed a new definition of ‘wage’ which will have an impact on the income tax regulations in India. This change is likely to affect both employers and employees, as it could alter the way wages are taxed. In this article, we examine the potential implications of this new wage definition [&h...

Posted Under: Corporate Law |

GST ACT मे सेक्शन 19 सपठित सेक्शन 143 की व्याख्या

GST ACT मे सेक्शन 19 सपठित सेक्शन 143 की व्याख्या सेक्शन 19 में जॉब वर्क के लिए प्रेषित Goods एवं कैपिटल गुड्स के लिए आईटीसी के संबंध में प्रावध...

Posted Under: Corporate Law |

Schematization and Leaning Out Consolidated Corporate Structures

The goal of every corporate body is to reduce cost, increase efficiency and to keep things simplified for planning and devising strategies to evolve towards a better corporate structure becomes an inherent requirement. In this article, we will explore the ways in which corporates and business enterprises can adopt the process of ‘Leanin...

Posted Under: Corporate Law |

Pendices & Aayat Niryat Forms of Foreign Trade Policy, 2023

Public Notice No. 10/2023-DGFT [F. No. 01/75/171/00016/AM-23/FTP Cell.] 26/04/2023

Appendices & Aayat Niryat Forms of Foreign Trade Policy, 2023, are hereby notified vide Public Notice No. 10/2023 - DGFT Dated: 26th April, 2023...

Master Circular – Deendayal Antyodaya Yojana – DAY-NRLM

RBI/2023-24/20 FIDD.GSSD.CO.BC.No.07/09.01.003/2023-24 26/04/2023

DAY-NRLM promotes affinity-based women Self Help Groups (SHGs). However, only in case of groups to be formed with persons with disabilities and other special categories like elders and transgenders, DAY-NRLM may have both men and women in the Self-Help Groups....

Remittances to IFSCs under Liberalised Remittance Scheme (LRS)

RBI/2023-24/21 A.P. (DIR Series) Circular No.03 26/04/2023

Condition of repatriating any funds lying idle in account for a period up to 15 days from the date of its receipt is withdrawn with immediate effect, which shall now be governed by the provisions of the scheme as contained in the aforesaid Master Direction on LRS....

Registered Valuer must mention in his valuation report basis of his estimation

Order No. IBBI/Valuation/Disc./13/2023 26/04/2023

RV has liberty to adopt the cost approach to estimate the value of plant and machinery assets in accordance with International Valuation Standards. However, by not mentioning the details of the assets including present condition, which forms the basis of his estimation, the RV is in violation of sub rule 3(j) of Rule 8 of the Valuation Ru...

Higher penalty cannot be levied where owner of goods come forward in case of detention

Margo Brush India and others Vs State of U.P. and another (Allahabad High Court)

HC held that penalty under Section 129(1)(b) of the UPGST Act was unjustified and untenable since the owner has come forward for payment of penalty....

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