THE FINANCIAL RESOLUTION AND DEPOSIT INSURANCE BILL, 2017 (FRDI) is introduced with the objective to address the issue of Prevailing systemic vacuum with regard to bankruptcy situations in financial firms.
Contemporary digital barrage has caused Fiat money to be encroached by cryptocurrencies. Cryptocurrencies are an alternative to Fiat currencies with no central authority controlling the generation of money. These cryptocurrencies are different from conventional Fiat system of currencies where no federal signatory governs the flow of currency.
Until recent past the count of NGOs outnumbered the count of schools in India. Such being the spread of NGOs, arguably the biggest economic reform in India which is GST would certainly have its impact on NGO sector. One of the major question which people at helm of affairs of NGOs have is whether their organisation need to get registered under GST? The article attempts to put before the readers relevant extracts of statue which would facilitate in answering above question.
I herewith draw attention of readers to Sec 73(1) of Model GST Act, 2016 (MGST) that lists out activities, which warrants for prosecution and note that this section begins with “Whoever Commits…
Above quote of Chanakya the great Indian philosopher and economist reminds us of the mechanism of Input Tax Credit which is akin, since Government by giving needed credits for the inputs ensures that only right amount of taxes are collected
