A Regulatory agency is a public authority or government agency responsible for exercising autonomous authority over some area of human activity in a regulatory or supervisory capacity. Regulatory Agencies are either set up under a statute or derive their powers from a statute and the rules laid thereunder. For instance, Reserve Bank of India (RBI), […]
With the announcement of Relief Packages of Rs. 20 Lacs crores to revive the Economy by the Finance Minister, large number of entrepreneurs are puzzled as how to avail the benefits from these schemes? Where to apply for loans? What could be the interest benefit & so on. This article is an attempt to clarify […]
How do we, who are in legal and compliance services can not just Survive but Excel in tough Time during this Pandemic of COVID-19 A lot is being said and heard about finding Opportunities from Adversity for CS and Lawyers who are in practice. We all have attended number of webinars and sessions about the […]
It is the speedy and effective settlements of dispute which are the two most important attributes for the proper functioning of the justice delivery system and also important with respect to the faith of the business entities upon such system. Considering such a scenario, arbitration has emerged as an efficient alternative to the public justice delivery system.
Nothing is permanent. Yes and therefore this COVID -19 is also has to be passed in near future. History shows that everything on this planet whatever it may be, changed after some period of time. Just like there is birth and death in case of all living being, same is the case with any other […]
FINANCE MINISTER ANNOUNCE MEASURES FOR RELIEF AND CREDIT SUPPORT RELATED TO BUSINESSES, ESPECIALLY MSMES TO SUPPORT INDIAN ECONOMY’S FIGHT AGAINST COVID-19 Yesterday Hon’ble Prime Minister Shree Narendra Modi Jee announced a Special economic and comprehensive package of Rs 20 lakh crores – equivalent to 10% of India’s GDP. He gave a clarion call for or […]
In this article, we will discuss in detail about three financial frauds that have happened in India in recent times – 1. The PMC Bank Scam, 2019 2. The Karvy Stock Broking Scandal, 2019 3. The Rotomac Pens Scam, 2018 CASE I – THE PMC BANK SCAM, 2019 HISTORY AND BACKGROUND: The Punjab and Maharashtra […]
GST is payable on supply of goods or services. A supply consists of elements that can be separated in time, like purchase order / agreement, despatch (of goods), delivery (of goods) or provision or performance of service, entry in the records, payment, and entry of the payment in the records or deposit in the bank. […]
In my last write up – Joint development agreement – Taxation under Income Tax & GST published in the month of April’2020 I have discussed taxation aspects of Joint Development Agreement (JDA) transactions under Goods & Services Tax Act, 2017 (GST) and Income Tax Act,1961 in a detailed manner. Now, on making a further in-depth […]
Penalties for Fake Invoices and False Entries – Section 122 (1A) of CGST Act 2017 ( W.E.F 1.04.2020) for certain offences. The Finance minister in her budget speech has announced certain new provision in GST . According to Clause 124 of the Finance Bill 2020 Extract from the Finance Bill, 2020– 124. In section 122 […]
