201801.04
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GST intelligence in 2018 – IDT, Finance, Management

GST intelligence in 2018 – IDT, Finance, Management I must share certain pathetic situations of corporates which i came across while rendering ex- parte counsel opinions in last 5-6 months on certain already implemented process of GST in different organisations including anti – profiteering on regular basis. Peculiar Transition- I found experiments and typical thought…

201801.04
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New Cheque Bounce Provisions- 143A & 148

New Cheque Bounce Provisions- 143A & 148 The Negotiable Instruments (Amendment) Bill was put forth before the Lok Sabha by the Finance Minister on January 2, 2018. AIM- It aims to meet the following : reducing the undue delay in the cheque dishonor cases and, provision for payment of interim compensation to the complainants. OBJECT – Ease of…

201802.06
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Highlights of Union Budget 2018 – 2019

Highlights of Union Budget 2018 – 2019 IMPACT ON TAX REGIME INCOME TAX No change is proposed in personal income tax rates. Presumptive income schemes are liberalized for small businesses with turnover below Rs. 2 Crore and for professionals with income below Rs. 50 lakh per annum. In order to boost the MSME Sector, the…

201803.15
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Companies Act Vs Limitation Act

BENGAL CHEMIST AND DRUGGISTS ASSN. vs KALYAN CHOWDHURY In the Supreme Court of India, Civil Appeal No. 684 of 2018 RATIO 1: Section 421(3) of the Companies Act, 2013 is peremptory in nature. RATIO 2: Under Section 433 of the Companies Act, 2013 the provisions of the Limitation Act shall not apply”.   BRIEF FACTS:…

201803.21
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IBC – A Savior for Employees

   IBC – A Savior for Employees The Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “Code”) provides that all the employees and workmen must be considered within the meaning of the operational creditors as defined under Section 5 (20) of the IB Code which states that: “”Operational creditor” means a person to whom…

201803.31
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Foreign Exchange Management (Cross Border Merger) Regulations, 2018

Cross Border Merger Regulations Enacted – A Boost to Foreign Investment in India   INTRODUCTION The Reserve Bank of India has finally enacted the Foreign Exchange Management (Cross Border Merger) Regulations, 2018 vide notification No. FEMA 389/2018-RB dated 20th March 2018. Before the Foreign Exchange Management (Cross Border Merger) Regulations, 2018 coming into force, the…

201806.14
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HOME BUYERS IN THE CLUB OF FINANCIAL CREDITORS

HOME BUYERS IN THE CLUB OF FINANCIAL CREDITORS UNDER IBC (AMENDMENT) ORDINANCE 2018-Amendment w.e.f. 6th June, 2018 With the background of pathetic condition of home buyers due to malpractice of builders and recent developments, an ‘Explanation’ has been added to Section 5(8)(f) of IBC as under; “An amount raised from an allottee under a real estate project…

201807.10
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Res Judicata Vs Principle of Consistency

Res Judicata Vs Principle of Consistency Res Judicata Vs Principle of Consistency   In Principal Commissioner of Income Tax v. M/s Quest Investment Advisors Pvt. Ltd, under Income Tax Appeal No. 280 OF 2016 – High Court of Bombay dealt with “Res Judicata” and “Principle of Consistency” as held as under: ISSUES 1.Whether the Tribunal was justified…