There can be 3 stages of an application under IBC before NCLT i.e defect, listing and admission under IBC
The test of Dispute is the sine qua non for entertaining a claim under IBC. If there is an existence of a dispute between the Operational Creditor and the Corporate Debtor then the adjudicating authority may reject the application under IB Code.
Anti-Profiteering is going to be the biggest grey area in GST. Business entities should cautiously adopt their costing failing which they will land up with unwanted litigation in future.
The change was so dynamic that it could lead to boosting the GDP of India and also result in changes in price of goods and services as well. The business transactions suddenly saw different trend altogether.
I must share certain pathetic situations of corporates which i came across while rendering ex-parte counsel opinions in last 5-6 months on certain already implemented process of GST in different organisations including anti-profiteering on regular basis.
GST is a tax known throughout the world as practical business tax. It is not a tax on income but a tax on business as settled in courts of law in various country having GST regime. Thus, it was coined to be a practical business tax.
The budget 2017, as expected has neither proposed anything specific nor has resulted any change in the existing indirect tax laws . The entire budget could however reflect a strong will to implement GST at an earliest possible date.
GST implementation in India has a new deadline of 16th September, 2017. This has been aired by FM that anyhow GST will be implemented in India not later than the said date.
GST Strategies For Intelligent Companies & Professionals. An Advance & Exhaustive GST Corporate Seminar on 24th November 2016 (Thursday) at Novotel, Juhu, Mumbai (9.15 a.m. to 5.15 p.m.)
In its meeting on 03rd November 2016 GST Council has finalised Four GST Rates of 5%, 12%, 18% & 28% which will be levied on Various good post implementation of GST.
