During the submissions, Mr. Harish Salve, learned Senior Counsel appearing on behalf of ‘ArcelorMittal India Pvt. Ltd.’ submitted that once a ‘Resolution Plan’ is approved then under Section 31 of the ‘I&B Code’, it is binding on the ‘Corporate Debtor’ and its employees, members, creditors, guarantors and other stakeholders involved in the ‘Resolution Plan’. According to him, this is the most important change brought by the ‘I&B Code’, over its progenitor- the ‘Sick Industrial Companies Act’.
ICAI GUIDANCE NOTE ON DIVISION II-IND AS SCHEDULE III TO THE COMPANIES ACT, 2013 (Revised July 2019 Edition) The Government is bringing out several changes in the Companies Act, 2013 from time to time to enhance transparency by way of mandating additional disclosures. Towards the same, the Ministry for Corporate Affairs has issued a Notification […]
ICAI GUIDANCE NOTE ON DIVISION I-NON IND AS SCHEDULE III TO THE COMPANIES ACT, 2013 (Revised July 2019 Edition) The Division I to the Schedule III of the Companies Act, 2013 lays down the format for preparation of the financial statements by the Companies that are required to comply with Companies (Accounting Standards), Rules, 2006, […]
Economic Survey says its theme is about enabling a shifting of gears, “to achieve the objective of becoming USD 5 trillion economy by 2024-25, as laid down by the Prime Minister. It says, for this India needs to sustain a real GDP growth rate of 8%
Advance authorisations shall not be issued, where import item is ‘pulses’ and/or ‘Peas’ of any kind, which is under restricted/prohibited/State Trading Enterprises (STE) lists vide Public Notice No. 17/2015-2020 Dated: 04 JULY, 2019. GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE DIRECTORATE GENERAL OF FOREIGN TRADE PUBLIC NOTICE NO. 17/2015-2020-DGFT NEW DELHI, […]
The Survey points-out that major hurdle to economic growth and social well-being can be stabilized through a relatively small investment in the legal system.
Sh. Rahul Sharma Vs. M/s H P India Sales Pvt. Ltd. (National Anti-Profiteering Authority) The allegation of the Applicant was that the Respondent had not passed on the benefit of rate reduction for the product ‘Computer Monitor of 19.5 inch’ w.e.f. 01.01.2019. We find that there was no rate reduction in tax on the product […]
NFRA-1 Form landing page Step 1: Enter the URL (eformnfra.nic.in). You will land on below screen (Screenshot-1), consisting of following options and information for the user Home- This option will facilitate the user to return to Screenshot-1 New user registration/signup – In order to proceed with the form submission, user needs to register on the portal, using this […]
Hirsh Bracelet India Pvt. Ltd. Vs ACIT (ITAT Bangalore) Section 50 of the Act is a special provision for computation of capital gains in case of depreciable assets and is applicable only to capital assets forming part of Block of Assets on which depreciation has been allowed under the Act. and also only for the […]
Attention is invited to the Trade Notice No. 21/2019-20 dated 28.06.2019 wherein the stakeholders were advised to send their suggestions regarding the proposed new Foreign Trade Policy on email id ftp2019-dgft@gov.in.
