GST applicable on escalated Value of Contract: Maharashtra Authority of Advance Ruling (AAR) Maharashtra AAR – Issue on which ruling was sought : M/s. B. P. Sangle Construction Pvt. Ltd apply AAR to clarify whether the escalated value shall be added to taxable value U/s 15 of the CGST Act 2017. As per AAR, GST …
Scope of Chartered Accountants in Future After globalization, privatization and liberalization, chartered accountancy has become a massively profitable vocation in India. Given the numerous advantages of being a chartered accountant (CA), it is understandable that many people would desire to pursue this profession. In fact, according to records, over 1.25 lakh student take the ICAI …
Introduction of Corporate Insolvency Resolution Process India has passed the IBC Code in 2016. The significant changes and improvements which were termed the largest economic reform were done by the Insolvency and Bankruptcy Code (IBC). Now it becomes a Rules & Regulation that will speed up India’s insolvency procedure. The main objective of the Insolvency …
One person Company and its registration process One person company was introduced by the company’s Act 2013. There is a requirement of a minimum number of Two members and Two directors in a private company as well as a minimum No of 3 directors along with Seven members in a public company. Earlier a company …
How to choose a business structure in India? When starting a business the first step to incorporating a company is to satisfy all legal regulations and ensure compliance with the legal requirements to make the Firm function safely. A Business model is a conceptual structure. It involves purpose goals to achieve long-term goals and planning …
Concept of Personal Guarantors (Promoter) under IBC The concept of ‘guarantee’ as defined in the Indian Contracts Act, 1872 refers to an agreement of assurance made among the debtor, guarantor and creditor. If the debtor fails to repay the debt to the creditor, the burden falls on the guarantor to pay the amount and failing …
All about the 12A Registration & 80G Registration Non profit Orgination are start for good reason, & the govt provides income tax exemptions to help them with raising funds. Now is the time to register your NGO U/s 12A & 80G in order to avail of those advantage for your Non profit Orgination. 80G & …
All about the NBFC (Non-Banking Financial Corporation) It is a company known as Non-Banking Financial Corporation incorporated under the Companies Act 1956 or 2013. As per the section 45– I (C) of the Reserve Bank of India Act, a Company which carries on the business of a financial institution will be a Non-Banking Financial Company. …
Is Insolvency Act a Game Changer? : an Opinions. The IBC 2016, has been in effect for almost a year. It appears to be one of the most important reforms adopted by the government. The power balance between borrowers and creditors has shifted dramatically as a result of the The Insolvency and Bankruptcy Code (IBC). …
Will the Current Boom in Real Estate Continue in 2022? The real estate sector revive and restructured post-COVID-19 pandemic. There are certain changes among people and a trend started to buy a piece of residence, in the urban area. Market is known to follow so many trends at a time but what we saw during …