LLP and its partner(s) are distinct persons. As per Regulations 19A(2), it is the LLP which should meet the minimum net-worth criteria of INR 10 Crores. Thus, an LLP not meeting the minimum net worth criteria of at least Rs. 10 Crores, would not be an eligible ‘angel investor’ even if its partners qualify as’angel […]
The prohibition on export of medical items was imposed to ensure domestic availability of these items to fight COVID-19. These have been relaxed based on an assessment, from time to time, of the domestic requirement, production capacity and surplus available for export.
Promotion of industries is a continuous and ongoing effort of the Government. Government has taken a number of steps, in addition to the ongoing schemes, to boost the growth of industries. The measures taken in a few important areas are highlighted below:
Creation of a centralized Investment Clearance Cell which would provide end-to-end facilitation support, including pre-investment advisory, information related to land banks; and facilitating clearances at Central and State level was proposed and the same is also a Budget Announcement 2020-21.
IRP-generated QR Code on B2B & Export Invoices, Credit & Debit Notes Vs. Self-generated Dynamic QR Code on B2C invoices It is observed that there are frequent queries on QR Codes to be mentioned on invoices as per statutory provisions. Below note summarises the comparative position: IRP-generated QR Code on B2B & Export Invoices, Credit […]
Ministry of Commerce & Industry E-Commerce Retail Companies Posted On: 16 SEP 2020 4:23PM by PIB Delhi Representations alleging violations of extant laws by e-commerce companies, have been received. In this regard, representations received are being examined by Department for Promotion of Industry and Internal Trade (DPIIT) and certain alleged contraventions under the FDI Policy, […]
Along with IT/ITES Units, Non IT/ITES Units in SEZs have also been allowed to take desktop/laptop outside SEZs to work from home. This has enabled exports especially in IT/ITES sector to register a positive growth despite lockdown.
The Government regularly reviews the country’s import policy, based on emerging trade and economic factors. Decisions to regulate imports are taken based on the assessment in national and public interest. At present, approximately 550 tariff lines are under the ‘Restricted’ / ‘Prohibited’ category for imports under the Foreign Trade Policy, imports of which are restricted from all countries including China.
ITO Vs. Scheme A1 of ARCIL CPS (ITAT Mumbai) Reversal of the impairment provision created by the assessee in the earlier years in respect of the financial asset was merely a book entry without any corresponding amount payable by anybody or any possibility of receiving any benefit or money or money’s worth. We are of […]
MAHARASHTRA ACT No. XXII OF 2020. Dated the 16th September 2020 (English) In pursuance of clause (3) of article 348 of the Constitution of India, the following translation in English of the Maharashtra Goods and Services Tax (Amendment) Act, 2020 (Mah. Act No. XXII of 2020), is hereby published under the authority of the Governor. […]
