In the Finance Bill (No.2) 2019, a much awaited amendment is proposed retrospectively under the Service Tax Law to provide that No Service Tax shall be levied or collected in respect of taxable service provided by the State Government by way of grant of liquor license, against consideration in the form of license fee …

1. The name of the scheme is “SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019” which is introduced to settle the disputed tax demandsofCentral Excise, Service Tax and Cesses which have got subsumed in GST. 2. The said scheme provides relief from tax demands ranging from 40% to 70% of the tax dues depending upon the …

That under the West Bengal VAT Act, 2003 in terms of Section 26 read with Rule 195 of the WB VAT Rules, 2005 “Security” was required to be furnished at the time of seeking registration under the act. The prevalent security so to be deposited was of Rs. 25,000. Now in view of applicability of …

1. Restriction on furnishing of information in PART A of FORM GST EWB-01 shall come into force w.e.f. 21.06.2019 . 2. Consequent to above: Taxpayers (whether as a supplier or a recipient) who have not filed the returns for consecutive two months shall be restricted from generating e-way bills. The restriction on generation of …

Analysis of the recent judgment of Orissa HC judgment on ITC of works contract in M/S Safari Retreats The issue involved in the said case was regarding availability of ITC on construction of a commercial mall in terms of Section 17(5) of the CGST Act r/w OGST Act wherein a writ petition was preferred before the High …

1. Vide entry no. 45 of Notification no. 12/2017-CT(R) dated 28.06.2017 as amended w.e.f. 25.01.2018 following services are exempted from the levy of GST. Legal Services provided by:- (a) An arbitral tribunal (b) A partnership firm of Advocates or an individual as an Advocate (c) Senior Advocate to Central Government, State Government, Union Territory, Local …

“The defaulter’s paradise is lost. In its place, the economy’s rightful position has been regained”, this is how the Supreme Court summed up the judgment upholding the constitutional validity of various provisions of the Insolvency and Bankruptcy Code, 2016 (herein referred to as “Code”). The Code paves way for a consolidated and un-bifurcated exhaustive law …

Requisite of A Consolidated Code: The Insolvency and Bankruptcy Code, 2016 (herein referred to as the “Code”) is a major legal breakthrough towards assessing the viability of an enterprise and the overall resolution of the stressed assets laws in the country. The economy is straddled with humongous NPAs in the financial sector and the twin …

The Bankruptcy Law Reforms Committee (BLRC) submitted a report on the Rationale and Design of an Insolvency and Bankruptcy Code in November, 2015. The Committee was chaired by Mr. TK Viswanathan and 14 other prominent members. The report enunciates about the reforms made to the financial sector which has transformed the way of economic thinking …

RESOLUTION OF DISPUTES ARISING OUT OF INTERNATIONAL TRADE TO BE FACILITATED BY DGFT: ONLINE METHODOLOGY INTRODUCED EFFECTIVE FROM 11.02.2019 INTRODUCTION Maintaining an enduring relationship with foreign buyers and suppliers is of utmost importance to create confidence in the business environment of India. So, whenever any disputes related to International trade arise, it is in the …