Equalisation Levy on E Commerce Operator (Applicable from 01.04.2020) Recently Finance Act has been passed on 27th March 2020 in which Section 165A has been added. In this, E Commerce Operators will pay equalisation levy @ 2% on the consideration received or receivable from the sale or provisioning of goods/services or facilitating the sale or […]
The General Financial Rules (GFRs) are the general rules of Government of India (GOI) which are applicable to all Government Ministries/Departments. Exceptions are provided in the Rules. These rules are applicable in matters relating to Public Finance, that is, Matters relating to Revenue and Expenditure of Government. These rules were first introduced in 1947 and […]
Govt Introduce new Platform CHAMPIONS for MSMEs Know 36 Subsidy & Financial Assistance Scheme for MSMEs and Process to apply Online CHAMPIONS stand here for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength. Accordingly, the name of the system is CHAMPIONS. As the name suggests, the portal is basically […]
Companies Fresh Start Scheme, 2020 Relevant Date ⇒ MCA Circular dated 30.03.2020 Enforceability ⇒ w.e.f 01.04.2020 till 30.09.2020 Purpose of the Circular Relevant Section ⇒ Section 403 & 460 of CA, 2013 1. To give opportunity to the defaulting Companies and to enable them to file the belated documents in the MCA-2 1 registry, 2. […]
Earlier, we have to file physical application and documents for getting IEC. Lot of times consumed by physical mode and also it was cumbersome procedure. But, today is the era of Digitisation. Now, all the information’s and facilities are available online in easy way. It saves both the time and money and increases the chances […]
Section 7 of CGST ACT 2017– There are so many articles related to concept supply already available to all of us so I have tried to sum-up important points to kept in mind related to ‘supply’ –milestone of GST ACT. Section 7 (1)- (a)- Three points to remember- For purpose of this Act- √ Supply […]
Order 1 Rule 10 of Civil Procedure Code, 1908 Suit in the Name of wrong plaintiff The general rule in regard to prosecution of parties is that the plaintiff in a suit, be dominus litis, may choose the persons against whom he wishes to litigate and cannot be compelled to sue a person against whom […]
Mandatory procedures under Corporate Insolvency Resolution Process such as interim financing for insolvent assets, time-bound resolution process, and a creditor in control model may not be easily met under the present COVID-19-induced conditions. Another concern can be an over-burdened NCLT besides everything. These could be the probable reasons to suspend the Code.
In the year 2016, the Indian Parliament completely overhauled the then existing framework governing insolvency and bankruptcy in India. The novel Insolvency and Bankruptcy Code, 2016 (Code) sets out a comprehensive and consolidated set of provisions, which seeks to provide a new trajectory to the sick industry regime in India. With a dire need for […]
Background of levying tax on the services of Goods Transport Agency The levy of Service Tax on Road Transportation Service has always been a debatable issue. The Finance Act, 1997 and 2004 had levied Service Tax on Goods Transport Operators (Transport of Goods by road) w.e.f. 16-11-1997 and 10-09-2004 respectively, which was subsequently withdrawn Due to nation-wide […]
