Q.1 What do you mean by SGST? Ans. Under GST, SGST is a tax levied on Intra State supplies of both goods and services by the State Government and will be governed by the SGST Act. As explained above, CGST will also be levied on the same Intra State supply but will be governed by […]
Q.1 What is the scope of the term ‘supply’ as defined in the CGST Act, 2017? Ans. As per Section 7(1) of the CGST Act, 2017, Supply includes: Ø All forms of supply of goods or services or both such as sale, transfer, barter, exchange, licence, rental, lease or disposal made or agreed to be […]
GST is a tax payable on ad-valorem basis i.e percentage of value of the supply of goods or services. Section 15 of the CGST Act and Determination of Value of Supply, CGST Rules, 2017 contain provisions related to valuation of supply of goods or services made in different circumstances and to different persons: 1. Value of supply of goods or services where the […]
Whether a Trade Union Become an Operational Creditor Under The Insolvency and Bankruptcy Code (IBC) An operational creditor is defined under Section 5(20) of the IBC to mean “any person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred“. In order to ascertain […]
Limited liability LLP Agreements mean any written agreement between the partners of the Limited Liability Partnership or between the Limited Liability Partnership and its partners which determines mutual rights and duties of the partners and their rights and duties in relation to that limited liability partnership [section 2(1)(0)]. It is compulsory to make and execute […]
Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem that is conducive for the growth of startup businesses, to drive sustainable economic growth and generate large scale employment opportunities.
Section 55(2) of the Companies Act 2013 states that a company limited by shares may as per the authorisation by its articles, issue preference shares which are liable to be redeemed within a period not exceeding twenty years from the date of their issue subject to such conditions as may be prescribed. A company engaged […]
ACTION TO BE TAKEN IN CASE OF NON-COMPLIANCES BY LISTED COMPANIES Regulation : Fine payable and/or other action to be taken for non-compliance in respect of listed entity Regulation 6(1): Rs. 1,000 per day for non-compliance with requirement to appoint a qualified company secretary as the compliance officer Regulation 7(1): Rs. 1,000 per day for […]
Only a company limited by shares can issue equity shares with differential rights as to dividend, voting or otherwise. Such company has to comply with certain conditions.The company shall not convert its existing equity share capital with voting rights into equity share capital carrying differential voting rights and viceversa. The Board of Directors are required […]
COMPANY LAW SERIES CHAPTER 3 ISSUE OF EQUITY SHARES WITH DIFFERENTIAL VOTING RIGHTS While Section 43 enables companies to issue equity shares with differential rights as to dividend, voting rights etc. Rule 4 of Companies (Share Capital and Debentures) Rules, 2014 states the following conditions regarding shares with differential voting rights. Conditions for issuing shares […]
