Introduction: Our Indian taxation system has moved forward to a new reform, and it becomes very important that as a citizen of India that we should understand it. Goods and services tax council is a constitutional body for making recommendations to the union and State government to look after the Read more…
Introduction: The Indian Constitution states that no tax should be charged or collected except under the rule of the statute.[1] Any required accumulation of money by the State shall result in the imposition of a tax which is not permitted except by or within the jurisdiction of legislative provisions. The Read more…
Introduction: To protect human life from the spread of the COVID-19 outbreak Indian Government preferred for a complete nationwide lockdown. Due to the nationwide lockdown, the control of COVID-19 was significant but at the same time, it had a very worse impact on economic activities. Due to the decline in Read more…
Introduction: GST is referred to as the Goods and Services Tax. It is an indirect tax that has replaced other indirect taxes in India, such as excise levy, VAT, tax on utilities, etc. The Goods and Service Tax Act was passed in Parliament on 29 March 2017 and came into Read more…
Introduction: Commerce and trade are reaching new peaks in this century. We all hear about the sale of business, mergers, acquisition taking place every other day. The business agreements and transfers are becoming more complex with the passing time. The reconstruction of business organisations requires a number of steps and Read more…
Introduction: On 21 February 2019 banning of unregulated deposit scheme (ordinance) was passed by the cabinet. It was later passed by the parliament as an Act known as banning of unregulated deposit schemes Act 2019 on 31st July 2019. This act was passed to ban unregulated deposit schemes in India Read more…
Introduction: The year 2020 brought a new pandemic to the human history the COVID- 19. It can be transmitted through touch. Therefore has spread in a lot faster way because of the globalized world that we live in. The lockdowns that are in place to reduce the spread has led Read more…
Introduction: Limited Liability Partnership is a hybrid form of business consisting of the elements of both a general partnership and a company. The main advantage is the limited liability of the partners and firm having a separate legal entity along with the benefits of having flexible operations in accordance with Read more…
Introduction: In case of dishonour of a negotiable instrument, notice of dishonour must be served to all the parties by the holder for payment of dues. The term “Dishonour” means not honouring one’s obligation. Such dishonour can be caused by either non-payment or non-acceptance. The Negotiable Instrument Act that came Read more…
Introduction Insolvency and bankruptcy code, 2016 initially received the assent of the president on 28 May 2016, when it was drafted it had 255 sections and 11 schedules. But over the period of time changes have been made via the Insolvency and Bankruptcy Code (Amendment) ordinance, 2019 and now recently Read more…
Introduction Insolvency is a term for an organization or individual, who fails to meet its financial obligation to its lenders as debts become due. It is simply a state of being unable to pay the money owed, by a person or a company on time; those in a state of Read more…
INTRODUCTION A Private Trust can have a broad definition but has been defined in a niche manner under Section 3 of the Indian Trust Act, 1882. It has been defined as an obligation that is attached to property ownership, and arises out of a confidence. That is accept by the Read more…