The Finance Ministry has introduced changes in the e-way bill system, including auto calculation of distance based on PIN codes for generation of e-way bill and blocking
Category: News of interest
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IBC: Changes, challenges and interpretation of bankruptcy law
IBC mandates that an insolvent asset must be resolved in 270 days. Next month, it would be 3 years since Parliament enacted the bankruptcy law. There
ITC moves NCLT seeking to cancel Leela sale; hearing on June 18 – The Economic Times
In another development, Leelaventure in a BSE filing Wednesday said markets regulator Sebi has asked it to hold the sale of its four hotels and
Composition scheme biz to now file simplified ‘self-assessed’ GST return quarterly – The Economic Times
There are 1.21 crore businesses registered under Goods and Services Tax (GST), of which 20 lakh are under composition scheme. Giving relief to composition scheme taxpayers under
GST returns: Non-filers of GST returns for 2 months to be barred from generating e-way bills from June 21–Economic Times
Non-filers of GST returns for two straight months will be barred from generating e-way bills for transporting goods effective June 21, the finance ministry said. Businesses under GST composition scheme, however,
Income tax exemption: You can submit Form 15G/Form 15H even if your total income exceeds tax-exempt level
Highlights Banks usually deduct TDS from the interest income on FDs if it crosses the threshold limit It is important to submit Form 15G/Form 15H
Let competition be cure for profiteering–Economic Times
The Directorate General of Anti-Profiteering has reportedly charged Procter & Gamble India with alleged ‘profiteering’. The company is accused of not passing on about Rs.
Ericsson moves Supreme Court against returning Rs 580 crore to Anil Ambani’s RCom – The Financial Express
Swedish telecom network company Ericsson has moved the Supreme Court against potentially having to return Rs 580 crore to Reliance Communications according to an NCLAT
GST relief for small businesses; simplified ‘self assessed’ GST return filing in composition scheme – The Financial Express
The CBIC has notified the simplified ?statement for payment of self-assessed tax? in Form GST CMP08 to be filed by taxpayers who have opted for
Don’t dilute IBC | Business Standard Editorials
The Insolvency and Bankruptcy Code (IBC) has been one of the major reforms of the past five years. It promised to effectively solve what former
GST Council gives firms more flexibility on use of input tax credit | Business Standard News
In yet another simplification, the Goods and Services Tax (GST) Council has added flexibility into the way a company can utilise the available input tax
Data on jobs, GDP being analysed with a new set of proxies: CEA – The Hindu BusinessLine
Pointing out that the country is moving towards data-based governance, Chief Economic Advisor Krishnamurthy Subramanian on Wednesday underscored the importance of data integrity for achieving
RBI: RBI may offer more time for bank-led resolution of NPAs – The Economic Times
The central bank is expected to retain the main contours of its February 12, 2018, circular. The RBI is likely to adopt a more accommodative approach towards
HC rules taxman can seek interest on entire GST liability – The Economic Times
Once payment is made from such electronic credit ledger, the government gets a right over the money available in the ledger. The Telangana high court
Essar Steel CoC cannot discriminate between operational creditors, observes NCLAT – The Economic Times
The National Company Law Appellate Tribunal (NCLAT) on Tuesday observed that the Committee of Creditors of Essar SteelNSE 0.00 % cannot discriminate between operational creditors of the
Banking in india: View: The next government needs to ax the banks–Economic Times
by Neelkanth Mishra India, the world’s fastest growing large economy, is slowing: There has been a visible deceleration in activity in the past six months.
No input tax credit if GST returns not filed, says Telangana HC – The Economic Times
The Telangana High Court has ruled that no input tax credit (ITC) is available unless GST returns are filed and a taxpayer is liable to pay penalty
SME: Financial practices every SME owner should adopt at the beginning of the new fiscal year
By Siddharth Mahanot Whether it’s a listed company or a startup, running a business on your own, while bringing its own set of excitement, can
IBBI, not NCLT, is the competent body to act against resolution professionals: NCLAT – The Economic Times
The Insolvency and Bankruptcy Board of India (IBBI) will be the competent authority and not the National Company Law Tribunal (NCLT) to act against any
Jaypee Infratech homebuyers offered Rs 97 crore compensation – The Financial Express
After his meeting with Jaypee Infratech (JIL) homebuyers last week, Manoj Gaur, JIL’s erstwhile promoter, has sweetened his February 2019 resolution plan for the debt-laden
