Latest Post and Updates
The Ministry of Corporate Affairs (MCA) has notified an amendment for a situation when a person who belongs to a neighboring land border sharing country seeks an appointment in an Indian company as a Director or demands obtaining a Director Identification Number (DIN). The Companies Act, 2013 was passed with…
The Indian rupee has come under intense selling pressure in recent weeks amid a perfect storm of global headwinds that analysts say will continue to batter the currency in the coming months. It has already tested record lows twice in July, falling more than 80 to the greenback, only to…
Even after four years of GST implementation and over a thousand notifications and circulars, we continue to encounter several issues with GST on-site maintenance and department operations. Businesses and professionals encounter several challenges as a result of issues and constant change. It is terrible that even after four years; we…
It is crucial to adhere to secretarial standards in the meeting's processes and in topics related to them since company law provisions are growing stricter and ROCs are being more vigilant. Secretarial Standard 1 serves as a reference for conducting the Board Meeting in accordance with the Company Act, 2013…
The Companies Act, 2013 (the Act) emphasizes flexibility and rigidity in the composition of the board of directors (boards). Flexibility hereby refers to the mandatory inclusion of rotating directors in the board of directors and Rigidity ensures the inclusion of non-rotating directors in the board of directors. The mentioned combination…
The Reserve Bank of India has directed regulated entities (REs) lending to the microfinance sector to ensure that loans are unsecured and not secured by a lien on the borrower's deposit account, that repayments are capped, that interest rates are not usurious, and that there is no penalty for payment…
The Reserve Bank of India (RBI) regulates the purchase and acquisition of immovable property in India by non-residents under the Foreign Exchange Management Act (FEMA). An Indian citizen residing outside India as per FEMA is an NRI (Non-Resident Indian) while a non-Indian citizen who or whose parents or grandparents were…
Businesses must claim Input Tax Credit (ITC) that shows only in GSTR-2B from January 1, 2022. As a result, Rule 36(4) of the CGST Rules is rendered obsolete, and the new clause (aa) under Section 16(2) takes effect. This article goes into depth regarding the shift, how it affects businesses,…
The 47th GST Council meeting held on June 28th and 29th, 2022, produced a new proposal stating that GST will be levied at 5% on pre-packaged and labeled food items beginning July 18th, 2022. This was announced in Notification No. 06/2022-CT (Rate) on July 13, 2022. This idea comes after…
In a circular dated August 3, 2022, the Central Board of Indirect Taxes and Customs (CBIC) clarified the application of the GST to various taxes, fines, and penalties resulting from contract violations and other situations. The circular has examined a wide range of situations when one party recovers a charge,…
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