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  • The Insolvency and Bankruptcy Code (IBC), 2016, is among the most crucial structural reforms undertaken by this government. Yet, for IBC to be effective, the principles at the heart of the legislation must be respected.

    First, there has to be timely outcomes within 180 days (270 days for rare, complex cases), failing which there will be the credible threat of liquidation. Second, commercial decisions

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  • Section 7 of GST – Scope of supply

    (1) For the purposes of this Act, the expression “supply” includes –

    • (a) all forms of supply of goods or services or both such as sale, transfer, barter, exchange, licence, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business;
    • (b) import of
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  • The Kerala High Court has recently slammed the GST department’s attitude of insisting taxpayers pay GST either through cash or Demand Draft and observed that this is against the very spirit of the new tax regime. The current GST regime supports digital payments and the Government has even announced incentives for paying tax using digital modes instead of the conventional mode of payment of tax. The petitioner approached the High

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  • I. Introduction: The purpose of this guidance note is to bring clarity about the impact of GST,which would come into force with effect from 01.07.2017, for importers and exporters. On the imports side there would be no impact on levy of Basic Customs duty, Education Cess, Anti-dumping duty, Safeguard duty and the like. However, the Additional duties of Customs, which are in common parlance referred to as Countervailing Duty (CVD) and

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  • In re M/S Spaceage Syntex Pvt Ltd. (GST AAR Maharashtra)
    Duty Credit Scrips and DFIAs are not one and the same or similar at all. They are different incentives given to exporters with different conditions and have been separately defined and explained in different Chapters of the FTP. Even though both are an incentive to exporters to promote and increase exports from the country, both the schemes are used in

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