Ministry of Corporate Affairs penalizes Tricom India Limited for failing to file financial statements under Section 137 of the Companies Act, 2013. Details of the penalty order and its implications.
Learn about regulatory framework for default loss guarantee in digital lending – who bears the loss when a borrower fails to repay? Regulated Entities (REs) and Lending Service Providers (LSPs) both have a role to play.
Confusion around Income Tax Section 36(1)(viia) and its applicability to cooperative societies. Judicial views, distinctions and unresolved debate on Section 36(1)(viia)
Learn what Significant Beneficial Ownership is and what affects it under Companies Act in India from this blog post. FATF, PMLA and other entities affect Ownership compliance and rules.
Mera Bill Mera Adhikaar (MBMA) is an incentive scheme which seeks to trigger a behavioral change in consumers for demanding an invoice from supplier of goods and services as a right and entitlement.
Assessee-company was engaged in the manufacture of transformers and their parts falling under Chapter Heading 8504 of the Central Excise Tariff Act 1985. It was registered with the Central Excise department and was availing CENVAT credit on various inputs including transformer oil.
Since raising of finance for day-to-day operations by assessee was squarely covered within the scope of the definition of ‘support service’ and thus assessee was liable to discharge service tax on the Guarantee commission paid to Government of Karnataka or raising funds from the debt market.
ITAT Mumbai held that Arm’s Length Price (ALP) of guarantee commission was determined at the rate of 0.3523% instead of 1.25%.
Understand RBI’s guidelines from October 2023 to regulate unsecured loans by Banks & NBFCs. Risks weights raised for personal loans, credit cards & loan to NBFCs.
CESTAT Chennai held that duty exemption available to all items of machinery, including instruments, apparatus and appliances, auxiliary equipment and their component parts required for setting up of water treatment plants. Accordingly, duty paid under protest is required to be refunded back.
