A transaction in which the buyers and sellers of a product act independently and have no relationship to each other. The concept of an arm’s length transaction is to ensure that both parties in the deal are acting in their own self interest and are not subject to any pressure or duress from the other party
Measures taken of GST Audit while finalizing Books of accounts & preparation of Balance sheet Every business organization is engaged in finalizing books of accounts and preparation of Balance Sheet for each financial year. It becomes important to understand the legal provisions under GST law while finalizing books of accounts and preparation of Balance Sheet. […]
Due to the adverse effects of COVID-19 on the economy, the Government has released several relief measures to increase liquidity in the economy. Prominent measures have been announced pertaining to the Employee’s Provident Fund Scheme.
In this article author shall discuss about Relaxation given by MCA in Compliances of Companies Act, 2013 due to COVID-19 Situation, Amendment made by MCA due to Pandemic Situation in Country and . Relaxations from many Due Dates for Filing of Forms, holding of Meetings etc. MCA has issued 23 Notifications and Circulars between between […]
To Business Like-minded = Understand Contract, its Importance, Why Contract, For What Contract and Why Lawyers A Contract is an enforceable agreement between two or more Parties that can be enforced by a court of law and has the consensus ad idem of the Parties to the Contract. In all areas of life we make […]
Understand the accounting and reporting requirements for the primary sector with Ind AS 41 Agriculture. Learn about the fair value model and its implications.
Under GST Law, Section 9 of the CGST Act, 2017 and Section 5 of the IGST Act, 2017 empowers the Central Government to notify such goods and services on supply of which the recipient shall be liable to pay applicable GST under the Reverse Charge Mechanism.
Taxpayers, subject to certain conditions, could transition un-utilised input tax credits under the erstwhile laws say, Central excise, Service Tax and State VAT laws into GST by filing Form GST TRAN-1. In regard to transitional credits, intense legal battles were fought on certain contentious issues like is it a vested right or a conditional right, […]
INTRODUCTION: In the present article I will discuss the important aspects of E-Commerce Operator (in short “ECO”) in GST. In this era ECO plays an important or vital role in our life and it have impact not only to the market but day to day life of human being also. To understand the GST law […]
BUY-BACK OF SECURITIES I. Applicable provisions: > Companies Act, 2013 – Section 68 – Section 69 – Section 70 – Rule 17 of The Companies (Share Capital and Debentures) Rules, 2014 > SEBI – Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018. II. What is Buy-Back? There is no definition given under […]
