The proposed amendment to section 92B(2) of India's Income Tax Act aims to reduce transfer pricing litigation by clarifying the definition of "international transaction". However, it may also increase compliance obligations for companies. Specifically, the amendment states that a transaction between two Indian entities could be deemed an international transaction if there was a prior agreement between an associated enterprise of each company. This could apply even to genuine contractual arrangements between group affiliates pursuant to a global master agreement. While the amendment seeks to reduce litigation, it may lead to more reporting requirements for multinational corporations with complex global contracts that involve Indian subsidiaries.
#Whether GST Applicable on Liquidated Damages? By SN PanigrahiSN Panigrahi, PMP
#Whether GST Applicable on Liquidated Damages? By SN Panigrahi,
Essenpee Business Solutions,
Section 7(1) (d) of the GST Act, 2017,
Advance Ruling on Liquidated damages ("LD")
The presentation seeks to provide deep insight into the Pre-Packaged Insolvency Resolution Process introduced to the Insolvency and Bankruptcy Code, 2016 by way of enactment of Insolvency and Bankruptcy (Amendment) Ordinance, 2021 under Part II Chapter III-A of the Code.
In 2018, the Vietnam International Arbitration Center (VIAC) made a judgment in favor of the employer concerning a dispute over a Non-Disclosure and Non-Compete Agreement (NDA). The employee requested the Court to overturn VIAC’s arbitral award claiming that the dispute was outside the jurisdiction of the VIAC, but the Court rejected such request. The Court’s decision raises a question as to whether the VIAC has jurisdiction over disputes regarding NDAs. This issue of Labor Law Review presents our point of view on such a question and introduces the labor law updates from June 15, 2020, to July 27, 2020.
#Whether GST Applicable on Liquidated Damages? By SN PanigrahiSN Panigrahi, PMP
#Whether GST Applicable on Liquidated Damages? By SN Panigrahi,
Essenpee Business Solutions,
Section 7(1) (d) of the GST Act, 2017,
Advance Ruling on Liquidated damages ("LD")
The presentation seeks to provide deep insight into the Pre-Packaged Insolvency Resolution Process introduced to the Insolvency and Bankruptcy Code, 2016 by way of enactment of Insolvency and Bankruptcy (Amendment) Ordinance, 2021 under Part II Chapter III-A of the Code.
In 2018, the Vietnam International Arbitration Center (VIAC) made a judgment in favor of the employer concerning a dispute over a Non-Disclosure and Non-Compete Agreement (NDA). The employee requested the Court to overturn VIAC’s arbitral award claiming that the dispute was outside the jurisdiction of the VIAC, but the Court rejected such request. The Court’s decision raises a question as to whether the VIAC has jurisdiction over disputes regarding NDAs. This issue of Labor Law Review presents our point of view on such a question and introduces the labor law updates from June 15, 2020, to July 27, 2020.
Consortium & Determination of "International" Character of Arbitration in IndiaBadrinath Srinivasan
This paper critically evaluates the recent decision of the Supreme Court of India in Larsen and Toubro Limited Scomi Engineering BHD v. Mumbai Metropolitan Region Development Authority (2018) where the Court laid down tests to determine the international character of an agreement in which the contractor-consortium consisted of a non-Indian entity.
Insolvency Resolution Process of Guarantors under IBCKaran Valecha
This presentation provides for the insolvency resolution process of guarantors to a corporate debtor. It further takes into account the nature and definition of a contract of guarantee and how the same is treated under the Insolvency and Bankruptcy Code, 2016 pointing out the key case laws on the subject followed by a brief discussion on the constitutional validity of notification enabling CIRP of personal guarantors.
Key Definitions, Concepts And Setting Up of A Company Under Companies Act 2013ijtsrd
The 2013 Act has introduced several new concepts and has also tried to streamline many of the requirements by introducing new definitions. This article covers some of these new concepts and definitions in brief. Dr. Prof. Jay Girishkumar Dave"Key Definitions, Concepts And Setting Up of A Company Under Companies Act 2013" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-1 | Issue-4 , June 2017, URL: http://www.ijtsrd.com/papers/ijtsrd2193.pdf http://www.ijtsrd.com/management/accounting-and-finance/2193/key-definitions-concepts-and-setting-up-of-a-company-under-companies-act-2013/dr-prof-jay-girishkumar-dave
Key Direct Tax proposals announced by the Finance Minister on February 1, 2017.
CONTENTS on INCOME-TAX
1. Transfer Pricing
2. Non-resident
3. Corporates
4. Capital Gains
5. Assessments
6. Effect of Demonetisation
7. Other Amendments
8. Rates of Tax
Presentation on CRITICAL ISSUES IN CAPITAL GAINS TAXATION
organised by Tax Practitioner's Association, Indore and ICAI Indore
By
CA. Pankaj Shah
Former Chairman Indore branch of CIRC of ICAI
LLB(Hons), BBA, CS, FCA, DISA(ICA)
Objectives & Agenda :
The primary objective of Insolvency and Bankruptcy Code (IBC) is the resolution of distressed assets of the insolvent debtor in a time bound structured manner and to enable such insolvent entity to continue as a going concern. IBC emerges as a fast track mechanism in completion of insolvency proceedings and aims at maximising the value of the assets of an insolvent entity. The Supreme Court judgement on Essar Steel is a landmark judgement that affirms the principles of IBC. The webinar analyses the key aspects of the judgments delivered by all the judicial forums viz. National Company Law Tribunal (NCLT), National Company Law Appellate Tribunal (NCLAT) and the Honourable Supreme Court in Essar Steel case.
Consortium & Determination of "International" Character of Arbitration in IndiaBadrinath Srinivasan
This paper critically evaluates the recent decision of the Supreme Court of India in Larsen and Toubro Limited Scomi Engineering BHD v. Mumbai Metropolitan Region Development Authority (2018) where the Court laid down tests to determine the international character of an agreement in which the contractor-consortium consisted of a non-Indian entity.
Insolvency Resolution Process of Guarantors under IBCKaran Valecha
This presentation provides for the insolvency resolution process of guarantors to a corporate debtor. It further takes into account the nature and definition of a contract of guarantee and how the same is treated under the Insolvency and Bankruptcy Code, 2016 pointing out the key case laws on the subject followed by a brief discussion on the constitutional validity of notification enabling CIRP of personal guarantors.
Key Definitions, Concepts And Setting Up of A Company Under Companies Act 2013ijtsrd
The 2013 Act has introduced several new concepts and has also tried to streamline many of the requirements by introducing new definitions. This article covers some of these new concepts and definitions in brief. Dr. Prof. Jay Girishkumar Dave"Key Definitions, Concepts And Setting Up of A Company Under Companies Act 2013" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-1 | Issue-4 , June 2017, URL: http://www.ijtsrd.com/papers/ijtsrd2193.pdf http://www.ijtsrd.com/management/accounting-and-finance/2193/key-definitions-concepts-and-setting-up-of-a-company-under-companies-act-2013/dr-prof-jay-girishkumar-dave
Key Direct Tax proposals announced by the Finance Minister on February 1, 2017.
CONTENTS on INCOME-TAX
1. Transfer Pricing
2. Non-resident
3. Corporates
4. Capital Gains
5. Assessments
6. Effect of Demonetisation
7. Other Amendments
8. Rates of Tax
Presentation on CRITICAL ISSUES IN CAPITAL GAINS TAXATION
organised by Tax Practitioner's Association, Indore and ICAI Indore
By
CA. Pankaj Shah
Former Chairman Indore branch of CIRC of ICAI
LLB(Hons), BBA, CS, FCA, DISA(ICA)
Objectives & Agenda :
The primary objective of Insolvency and Bankruptcy Code (IBC) is the resolution of distressed assets of the insolvent debtor in a time bound structured manner and to enable such insolvent entity to continue as a going concern. IBC emerges as a fast track mechanism in completion of insolvency proceedings and aims at maximising the value of the assets of an insolvent entity. The Supreme Court judgement on Essar Steel is a landmark judgement that affirms the principles of IBC. The webinar analyses the key aspects of the judgments delivered by all the judicial forums viz. National Company Law Tribunal (NCLT), National Company Law Appellate Tribunal (NCLAT) and the Honourable Supreme Court in Essar Steel case.
Overview of the ICT ecosystem of Wallonia - AWEX, Procolombia and App.co ir. Carmelo Zaccone
AWEX, Procolombia and App.co - ICT businessmen intending to settle down in Colombia
End 2014 a trade mission to Columbia, headed by H.R.E. Princess Astrid of Belgium, led a delegation of nearly 300 companies to establish business relations with the Columbian market. Building on its success, the Walloon agency of exportation (AWEX) organizes a second trade mission, headed by Jean-Claude Marcourt minister of economy and digital, in Bogota on June 18 to 19.
Regarding the Digital Economy, Belgium and Columbia share common views on innovations and entrepreneurship. Procolumbia, MinTIC and AWEX have decided to strength these opportunities of partnerships and mutual international expansion of our tech companies & startups.
Mixed Methods on the Commercialization of Cash Waqf in Nigeria: An Analysis o...iosrjce
This paper applied mixed methods approach on the commercialization of cash waqf in Nigeria and
its implementation in solving social issues and challenges confronting Nigerians at large and Nigerian Muslims
in particular. The value and importance of waqf endowment cannot be overlooked. The study analysed the
questionnaire conducted on commercialization of cash waqf in Nigeria and its implementation. The sample was
selected from Hausa, Yoruba, and Igbo tribes to discover the breadth and extent of poverty among Nigerian
Muslims in particular and Nigerians at large. This survey or data was sampled as an empirical evidence and
proof that many Nigerian Muslims are suffering terribly and their unfortunate condition calls for urgent
delivery from financial incapability. Similarly, intellectuals were also interviewed and their responses were
critically analysed in the discussion. The study discovered the effectiveness of the waqf establishment across the
nation as a semi-formal institution that will cater for the needs of Nigerian Muslims based on the available
resources. The problems and obstacles that may face the waqf institution were also examined. In the opinion of
the researcher, the number of respondents selected and interviewed is sufficient as they are Nigerians and know
what their Muslim counterparts are facing in the country regardless of their tribe and gender. Qualitative and
quantitative methods are used throghout the discussion. There are many lucrative and profitable businesses and
transaction that waqf management can transact with cash waqf endowment. It is recommended that waqf
endowment in Nigeria can transform many lives positively if competent, pious, qualified, and experienced
persons are in charge of waqf institution across the nation
TRAVAILLER DEMAIN : QUE VEULENT LES FRANÇAIS ? Ipsos France
A l’occasion du Forum Elle Active Paris qui se déroule les 8 et 9 avril 2016 et qui a pour thème le travail des femmes dans 10 ans, Ipsos a interrogé 2023 personnes, hommes et femmes, constituant un échantillon représentatif de la population des actifs français de 18 ans et plus, pour faire un point sur leur situation au travail aujourd'hui, leurs perceptions des changements qui s'opèrent et leur vision du monde du travail dans 10 ans.
Barometre Edenred-Ipsos 2016 : les piliers du bien-être au travailIpsos France
Ipsos et Edenred publient la 11ème édition du baromètre du bien-être au travail, étendu pour la première fois cette année à 15 pays dans le monde. Il ressort que le bien-être au travail est le fruit d’une équation inégale entre le cadre de travail, l’attention portée et l’émotion ressentie. En fonction du positionnement des salariés par rapport à ces trois composantes, quatre profils de pays se dégagent. Tour d’horizon du bien-être au travail aux quatre coins de la planète.
Millenials, génération z, screenagers : les 15 - 24 ans ?Ipsos France
L’étude « Qui sont les 15-25 ? » présentée à Beaubourg mercredi 1er juin en partenariat avec TF1, propose une compréhension des changements déjà à l’œuvre et une exploration prospective afin de mieux comprendre les consommateurs de demain.
India’s new law on competition, The Competition Act, 2002 (No. 12 of 2003), received Presidential assent on 13 January 2003. India will now be on the list of countries where prior consent must be obtained in any crossborder transactions.
UK Adjudicators are an Adjudicator Nominating Body (ANB) for the United Kingdom and International construction and engineering industries.
www.ukadjudicators.co.uk
Taxmann's Indian Accounting Standards (Ind AS)Taxmann
This book is a ready referencer to ‘understand Indian Accounting Standards (Ind AS) applicable in India’. Ind AS are substantially converged International Financial Reporting Standards (‘IFRS Standards’) adopted by certain Indian entities. The book provides a complete understanding on which entities are Ind AS applicable along with the entire bare text of Ind AS as amended from time to time.
The Present Publication is the 3rd Edition updated up to 20th August 2020, with the following noteworthy features:
· Taxmann’s Bestseller Book for Ind AS
· Follows Six Sigma Approach to Achieve the Benchmark of
‘Zero Error’
· Amended as per Companies (Indian Accounting Standards)
Amendment Rules, 2020
· Provides a legislative history of all amendments
· Contains Rules regarding the applicability of Indian Accounting
Standards
· Explains the differences between IFRS Standards and Ind AS
Building bridges - A newsletter from Grant Thornton’s Indo-Japan Desk - Volume 1Misbah Hussain
The newsletter aims to elucidate the key milestones in the ever evolving relationship of India and Japan, and provide insights to dynamic businesses in India and Japan on key developments.
“Global Regulatory Update” is a compilation of global and domestic news, opinions on regulatory issues, CII initiatives and representations on regulatory issues. The Update is aimed at keeping CII membership apprised of developments in the international and domestic corporate governance and regulatory landscape.
"Navigating Your Way to Business Success in India" is a seminar hosted by the Columbus, Ohio, law firm of Kegler, Brown, Hill & Ritter on March 10, 2011.
Topics included:
Legal Issues
Financing
Cultural Considerations
Case Studies
Refund: Interest is payable if refund paid after 3 months of claim: Bombay High Court
One would think that the law was clear on the issue of the date from which interest is calculated on delayed refunds, but the department took the issue to the high court. The law [Section 11BB of the Central Excise Act 1944, which also applies to service tax refunds, and Section 27A of the Customs Act 1962] provides that if a refund is paid later than three months from the date of application, interest is payable from the date immediately after the expiry of the said three months till the date on which payment is actually made. The date for computing the interest is thus the date immediately after expiry of three months from the date of application for refund. The department, however, took the view that three months are to be counted, not from the date of application, but from the date of the order for refund. This was negatived by Bombay High Court in WP 9100 of 2011 in the case of Union of India v Jindal Drugs (decided on 30 Jan 2012), reported as 2012-TIOL-109-HC-MUM. The court observed that it is a settled position in law that the liability of Revenue to pay interest commences from the expiry of three months from the date of receipt of application for refund and not on the expiry of the said period from the date on which an order for refund is made. The High Court followed the earlier order of the Supreme Court on the point, which had been reported as Ranbaxy Laboratories Limited v Union of India, 2011 (273) ELT 3 (SC).