Sakshi Srivastava

The boom in litigation cost has led to emergence of Third Party Litigation Funding in India. A third party who separately provides funds to parties for a dispute in exchange for a portion of monetary compensation that is recovered from the proceedings is called Third-Party Litigation Funding. Litigation Funding by any third party involves funding […]

Indian Economy is one of the economies that spend a huge sum of money towards tax paid. GST had combined all the indirect taxes together and made one tax. It is applicable from the beginning of manufacturing till the end in order to maintain uniformity among the system. Implementation of GST can bring the central […]

The Lok Sabha on 19th September, 2020 has passed The Companies (Amendment) Bill, 2020 that decriminalizes several compoundable offenses. It also allows direct listing of Indian companies on Foreign Stock Exchanges and withdraws the criminal provisions in the Companies Act for violations of provisions of CSR rules. It also promotes ease of doing business. In […]

The two-judge bench led by S.K. Kaul and Indu Malhotra recommends the Central Government to consider the effectiveness of the Advance Tax Ruling system. It is also to make it more comprehensive and vibrant tool for settlement of disputes rather than battling it through different stage, whether public or private sectors are involved. Note: The […]

The De-linking of new invoices and credit and debit notes are registered under the GSTN portal. The same was amended in CGST amendment Act, 2018 with the effect from February 1, 2019. Still, the same is registered on September 14, 2020, on the portal. After more than 1.5 years of the amendment in Section 34 […]

Tax Deducted at Source is the advanced tax paid by any person or entity for making expenses, expenses of professional fee, interest, salary, dividends and royalty amongst others as per prescribed tax slabs by the government. TDS return filing assists the government to prevent tax evasions. In this blog, we will discuss everything about the […]

The Authority of Advance Ruling has specified various goods and services where GST is Applicable or not. Following are the Goods and Services- 18% GST chargeable on Micro-manipulator System The Gujarat Authority of Advance Ruling (AAR) ruled on 2nd July 2020 that 18% GST is Applicable on the Micromanipulator system with retrospective effect from November […]

Section 7 Schedule 1 of CGST Act talks about the Activities to be treated as Supply even if made without consideration. The supply made between any related persons for inadequate or no Consideration is covered under Schedule I of the GST Act. Such transactions will be treated as ‘Supply’ only if it happens in furtherance […]

According to the Finance Act 2020, funds sent overseas under the Reserve Bank of India’s liberalized remittance method are subject to 5% TCS on Foreign Remittances subject to riders. The Government has presented some carve-outs so that not every foreign remittance will be a subject to Tax collected at Source. Those who are making Foreign […]

The Finance Act, 2020 has established a new Section 194-O that elaborates on levying 1% Tax Deducted at Source on Payments made to E-Commerce operators that will be applicable for the transactions from 1st October 2020. In this blog, we will talk about TDS Applicable on payments made to E-commerce operators. Section 194-O should be […]

Tax Deducted at Source (TDS) is the advanced tax paid by any individual or entity for making payments, payments of professional fee, interest, salary, dividends and royalty among others as per prescribed tax slabs by the government on behalf of the payee. TDS return filing helps the government to prevent tax evasions. In this blog […]

The Ministry of Corporate Affairs on 7th September, 2020 Monday displayed major relaxation for deposit norms related to startup companies. This notification allows an additional 5 years time to repay deposits more than INR 25 lacs for the Start-up Companies. The government has notified the new rules as “The Companies (Acceptance of Deposits) Amendment Rules, […]

The Goods and Services Tax (GST) is an indirect tax which has replaced the various indirect taxes which were being levied upon the citizens. The GST Law was passed on 29th Match, 2017 in the parliament and came into effect on 1st July, 2017. There are three taxes applicable under this system- IGST, CGST, SGST, […]

The most important benefit of establishing One Person Company is that the owner is solely responsible for all the affairs. The matters of the company have less liability and enjoy benefits similar to that of Private Limited Company. The owner is exclusively the most powerful authority for one Person Company. In this Blog we are going […]