Read the International Financial Services Centres Authority (Banking) (Amendment) Regulations, 2023 issued by the IFSCA. Stay updated on the latest amendments and provisions for banking units in IFSCs.
ead the Order by the Insolvency and Bankruptcy Board of India (Disciplinary Committee) cautioning an Insolvency Professional regarding liquidation value discrepancies and the need to be careful in representing matters before AA and NCLAT. Disciplinary Committee concludes that if there were factual discrepancies affecting the distribution of the resolution plan, Mr. Pramod Kumar Sharma should have filed an application before the Hon’ble NCLAT for rectification. The Committee advises Mr. Sharma to exercise caution when representing matters before AA and Hon’ble NCLAT.
Circular No. 11 of 2023 issued by the Government of India Ministry of Finance provides corrigenda to Circular No. 10 of 2023. The corrigenda rectify certain references in the circular related to section 206C of the Income Tax Act.
The Ministry of Finance, Department of Revenue, Central Board of Direct Taxes has issued Notification No. 47/2023, bringing further amendments to the Income Tax Act 1961. These amendments have been made in exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act. The notification replaces a specific row […]
Learn about the value of services for wheat-to-atta conversion provided by the applicant, distributed by the State Government. Discover the applicable tax rate and exemption eligibility under GST rules.
Explore the analysis of the GST implications on the composite supply of milling wheat into flour for public distribution. This article examines whether this supply qualifies for exemption under GST regulations based on factors such as composite supply classification, functions entrusted to Panchayats or Municipalities, and the value of goods in the supply. Read on for a detailed analysis and conclusion.
MCA recently imposed a penalty of ₹19.92 Lakh on R.R. Lifesciences Pvt. Ltd. for failing to appoint a Company Secretary, in violation of Section 203 of Companies Act, 2013.
Learn about the value of supply of services provided by Vikash Agritech Food Pvt Ltd for wheat conversion into atta/fortified atta, along with the applicable tax rate. This analysis delves into the definition of composite supply, its relation to Panchayat functions, and the 25% threshold for the value of goods. Explore the criteria for exemption under GST laws.
NCLT) Mumbai has approved the resolution plan submitted by Rite Bite Trading Pvt. Ltd. in the case of National Steel And Agro Industries Limited vs. Rite Bite Private Limited. This article provides a detailed analysis of the proceedings, including the background, eligibility criteria, submission of the plan, and the approval process.
Read the full text of the NCLAT Chennai order in the case of K. Narayanasamy vs J. Karthiga. The NCLAT set aside the order passed by the National Company Law Tribunal (NCLT) that dismissed an application filed by the suspended director. The NCLAT remanded the matter back to the NCLT for fresh adjudication on merits, allowing the suspended director an opportunity to be heard.
