Scheme for Remission of Duties and Taxes on Exported Products (RODTEP) was launched in 2020 from 1st January 2021 through the ministry of commerce and industry Govt. of India. This scheme is applicable to the export of products but not services. This scheme was enforced to repeal and reduce taxes for exported products and thereby […]
Before the initiation of PPIRP, the Corporate Debtor has to present the base resolution plan to the financial creditors. It could come from promoters if they are eligible under section 29A of the IBC.
Reserve Bank of India constituted a working group on digital lending on January 13, 2021 to study digital lending activities undertaken by both regulated financial sector and unregulated players to develop a regulatory approach for easy working. Its report running 151 pages is now available. It has 5 sections with the following broad contour. Section […]
There was a controversy whether livestock would constitute plant within the meaning of clause (3) of section 43 of the Act, that controversy has now been set at rest by the amendment of section 43(3) by the Parliament by the Finance Act, 1995 with retrospective effect from the inception of the Act, i.e., 1-4 -1962 to exclude tea bushes and livestock from the ambit of ‘plant’. 1t is now made clear in the definition of ‘plant’ in section 43(3) mentioned below
Difference between Direct Tax and Indirect Tax in India Introduction In India, the government’s right to impose taxes is derived from the Constitution Of India, which divides the power to levy taxes between the state and central governments. All taxes charged in India must be accompanied by a law issued by either the Parliament or […]
Well! Start-ups are a big kick to get succeed in these days. These days many people are opting for Start-Ups. You must have also thought about it. But is thinking enough for Start-up? In this article we will get to know about the way or pattern to think the idea of our business. Lacks of […]
Introduction: NGO’s is an organization that operates for non-profit purposes. A Section 8 Company is regulated under the Companies Act, 2013 (‘Act’), governed by the Ministry of Corporate Affairs. As per Section 8 of the Companies Act, 2013 it is proved to the satisfaction of the Central Government that a person or an association of persons proposed […]
CESTAT held that the service of providing professional/ vocational training courses and providing certificates to the students, on the basis of which the students are getting jobs or are trained to work as an entrepreneur / self-employed, falls under the exclusion clause of Section 65(27) of the Finance Act, 1994.
व्यक्तिगत डेटा संरक्षण अधिनियम 2019 जो केन्द्रीय केबिनेट ने 2019 में मंजूर किया था वो संसदीय समिति के समक्ष विचारर्थ था जिसे 22/11/2021 को बहुमत से पारित कर दिया गया है. इस तरह अब यह संसद के अगले सत्र में पेश होगा और पास होते ही यह कानूनी रूप ले लेगा. ये बिल भारतीय नागरिकों […]
Goods and Services Tax (GST) is a system where one person determines the tax and pay the tax by self-assessment. When the tax is paid by doing self-assessment, there is likely to be a chance that the tax may be short paid without any malice intention or there may be also a chance that the assessees may pay the tax short intentionally or knowingly.
