Corporate Governance: Balancing Profit and Principle

In India’s race towards Industry 4.0, we’re becoming a center of tech-driven innovation, embracing Demand-Driven Digital Supply Chains, a thriving Startup Ecosystem, and smart factories. Buzzwords like sustainability, social responsibility, and self-reliance are as common as chai stalls on every corner. While we champion ease of business and entrepreneurial spirit, corporate governance remains a crucial […]

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Key Highlights of the 53rd GST Council Meeting

Table of Contents Introduction Waivers and Time Extensions Monetary Limits and Pre-Deposit Reductions Rate Adjustments and Exemptions Specific Exemptions Procedural Amendments Special Clarifications Conclusion Introduction The 53rd GST Council Meeting, chaired by Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, presented several crucial recommendations aimed at enhancing the GST framework. Key decisions spanned

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GST Ambiguities: ITC Reversal of Capital Goods & Corporate Guarantees

Table of Contents Introduction ITC Reversal on Capital Goods Sale Capital Goods GST Provisions Explanations Illustration Suggestion GST on Corporate Guarantees Corporate Guarantee GST Provisions Suggestions Introduction It’s going to be 7 years of GST implementation on 1st July 2024. Yet there exists a good number of ambiguity in the various provisions of GST law.

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Section 43B(h): A Comprehensive Analysis and Frequently Asked Questions

Table of Contents Overview Applicability Consequences Positive Impact Negative Impact Illustration FAQs Overview The Finance Act of 2023 introduces a new sub-section under Section 43B of the Income Tax Act, 1961, effective from April 1, 2024, impacting payments made after April 1, 2023. This subsection addresses overdue payments to MSMEs as per the MSMED Act,

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Form 10F: A Step by Step Guide for Non-Residents

Table of Contents Overview Purpose & Benefits Applicability Documents Required Online Application Process E-filing Account Creation for NRs Filing of Form 10F Overview Form 10F is a self-declaration tax form designed for Non-Residents (NRs) seeking benefits under Double Taxation Avoidance Agreements (DTAA). It is particularly relevant when the Tax Residency Certificate (TRC) lacks essential information.

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