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 …

In the 33rd GST Council Meeting, the Council approved the following tax rates on residential housing properties. 1. GST Rate i. 5% without ITC on Non-Affordable residential housing properties; ii. 1% without ITC on Affordable residential housing properties. 2. Effective Date The new rates shall become applicable from 1 of April, 2019. 3. Definition of affordable housing i. In non-metropolitan cities/towns: A …

The petitioner in the case of Sampad Narayan Mukherjee v. Union of India & Ors., W.P. No.25447 (W) of 2018 challenged an order-in-original confirming allegations raised in a show cause notice. The petitioner had replied to the said show cause notice and had also requested for cross-examination of witnesses whose statements were relied upon in the show cause …

1. ITC for FY 2017-18 – can be availed upto filing of GSTR-3B of March’2019 – Input Tax Credit w.r.t invoices of F/Y 2017-18 may be availed by recipient till the due date of furnishing FORM GSTR-3B for the month of March 2019. It is to be noted that abovesaid benefit shall be …