CHAPTER 1: INTRODUCTION 1.1 HISTORICAL BACKGROUND The history of power of exercising contempt jurisdiction and punishing for contempt of court can be traced back to the 13th century. The ancient period considered king as a primal person to deliver justice and his powers were exhaustive and unquestionable. People during that period had no right to […]
Recently, the Hon’ble Supreme Court while deciding Dena Bank (Now Bank of Baroda) v. C. Shivkumar Reddy1, an appeal against the judgment of National Company Law Tribunal (NCLAT), wherein the NCLAT rejected the corporate insolvency application on the ground of limitation, settled important issues pertaining to Section 14 and 18 of the Limitation Act, 1963 […]
At the advent of GST, it was hoped that the transition shall happen of all the unutilized closing credit balances of any tax/cess lying in the account of the taxpayer under the previous regime. This was to ensure that such balances do not become cost and therefore result in the cascading effect.
Proof of account books of business in criminal trials,ingredients to be proved, explained-Presumption in favour of acts of public servants charged with bringing home economic and other crimes-Kerala General Sales Tax Act, 1963, Sections 46(1)(a), 46(1)(c) and 46(2)(c).
Background – Development Agreement In apartments construction business, it is a usual practice that the land owner transfers development rights in the land to a promoter. In consideration, the promoter allots constructed units to the land owner. The promoter constructs some extra units and sells the same. The Land owner, thus sells (transfers) development rights […]
The Applicant has sought clarification on the amount of subsidy to be reduced for arriving at taxable value of the solar system from the price declared by the Nodal Agency and whether the Goods and Services Tax (GST) liability would be on the taxable value calculated after subtracting the subsidy amount from the system price.
The necessary provisions regarding filing an appeal to Appellate Authority has been provided under CHAPTER XVIII- APPEALS AND REVISION [SECTION 107 TO 121] of the Central Goods and Services Tax Act, 2017 (‘CGST Act, 2017’) supplemented with CHAPTER XIII- APPEALS AND REVISION [RULE 108 TO 116]. Pursuant to the provisions of Section 107(1) of the […]
In the past 10-20 years, our world has changed a lot. We evolved from landlines to smartphones. We have almost shifted from money in the wallet to money in the digital wallet. Demonetization, suddenly made all the businesses be it small or big to shift to accepting online payments. From a vegetable vendor to a […]
I. Introduction What qualifies as a “Start-up” under the Start-up India Scheme? An entity shall be eligible to apply for Start-up Registration if: 1. It is incorporated as a Pvt Ltd Company or registered partnership firm or LLP. 2. Up to ten years from the date of its incorporation/registration 3. Turnover for any of the […]
A trust is a relationship in which a person or entity is bound by a fiduciary relationship to exercise that legal rights over the trust property for the benefits of any one or more individuals known as beneficiaries. The trust shall be governed by a set of written terms and conditions known as trust deed. […]
