201510.30
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E.Cess and S&HE Cess on inputs/ input services & C.G allowed to be utilized for payment of service tax

The Cenvat Credit Rules, 2004, has been amended to allow the utilisation of cenvat credit of Education Cess and Secondary and Higher Education Cess , paid on inputs/input services and capital goods,towards the payment of service tax . The amendment has been brought by notification No. 22/2015-C.E(N.T) Notification No. 22/2015-Central Excise (N.T.) New Delhi, the…

201510.30
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Sine Qua Non Of An Agreement

An agreement has two Sine Qua Non Ingredients i.e a. characteristic ingredients b. legal ingredients A perfect agreement should have balanced application of both the ingredients. CHARACTERISTIC INGREDIENTS A well drafted agreement can be summarised with the following IMPORTANT CHARACTERISTIC INGREDIENTS Simplicity Clarity Futuristic Options Definitions Straight & small sentences LEGAL INGREDIENTS Whereas, the BARE…

201510.24
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President Promulgates Constitution of Commercial Courts and Arbitration and Conciliation (Amendment) Ordinances

On 23.10.2015, President finally promulgated the ordinaces for Constitution of Commercial Courts and Arbitration and Conciliation (Amendment) . The much awaited amendments in Arbitration is finally implemented for really making ease of business in India . Since, foreign entities were worried about the lengthly legal procedures in India . Whereas, time factor in arbitration shall…

201510.24
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Competition Commission’s Rulings on Competition & Antritrust Laws

Competition Commission of India denied to scan fixation of Electricity Tariffs and open access charges, case against Discoms closed  CCI :  CCI maintaining distance from the jurisdiction of electricity sector regulators State Electricity Regulatory Commissions (SERCs) denied to examine fixation of electricity tariffs under the provisions of S. 4 of the Competition Act, 2002. [In…