The Hon’ble NCLAT in the matter of SBI Versus Metenere Limited (judgment dated 22.05.2020) has upheld the order passed by the NCLT (Principal Bench), New Delhi vide which the NCLT directed SBI to substitute IRP since he had worked with SBI for 39 years and retired as the Chief General Manager in 2016. The Corporate … Continue reading Ex-employee of the Financial Creditor not permitted to act as Interim Resolution Professional: NCLAT Orders
Month: May 2020
Notification No. 43 / 2020 – Central Tax dated 16.05.2020 could reverse the benefit granted by the Delhi High Court with respect to the transitional credit
The Hon’ble Delhi High Court vide its order and judgment dated 05.05.2020, in the matter of Brand Equity Treaties Limited and Ors (various petitions were allowed through common order), has read down the provisions (Rule 117 of the CGST Rules, 2017) and held that period of 90 days for claiming input tax credit in TRAN-1 … Continue reading Notification No. 43 / 2020 – Central Tax dated 16.05.2020 could reverse the benefit granted by the Delhi High Court with respect to the transitional credit
NO GST on remuneration paid to Executive Directors – AAR, Karnataka
As we are all aware, the Rajasthan Authority for Advance Ruling in the case of Clay Crafts India Private Limited held that the directors are not employees of the company, therefore, remunerating paid to them will not cover under Schedule III of the CGST Act, 2017 (activities or transactions which shall be treated neither as a supply … Continue reading NO GST on remuneration paid to Executive Directors – AAR, Karnataka
SECTION 4(5) OF THE GRATUITY ACT APPLIES ONLY WHEN THERE ARE OPTIONS FOR THE EMPLOYEE UNDER THE ACT AND UNDER CONTRACT WITH EMPLOYER: SUPREME COURT
APEX COURT DECISION IN THE MATTER OF BCH ELECTRIC LIMITED VERSUS PRADEEP MEHRA & ANOTHERS [CIVIL APPEAL NOS. 2379 TO 2382] The Hon’ble Apex Court held that Section 4(5) of Payment of Gratuity Act, 1972 (“the Act”) will apply only when there are alternative options, one in terms of the Act and one as per … Continue reading SECTION 4(5) OF THE GRATUITY ACT APPLIES ONLY WHEN THERE ARE OPTIONS FOR THE EMPLOYEE UNDER THE ACT AND UNDER CONTRACT WITH EMPLOYER: SUPREME COURT
BULLETED POINTS WITH RESPECT TO RED ZONES (OUTSIDE CONTAINMENT ZONE) FOR EASE OF UNDERSTANDING DURING LOCKDOWN 3.0
(A) Prohibited activities in addition to Para 4 (prohibited throughout the country) plying of cycle rickshaws and auto rickshaws; running of taxis and cab aggregators; intra-district and inter-district plying of buses; barber shops, spas and saloons. (B) Activities allowed with restrictions as specified Movement of individuals and vehicles is allowed only for permitted activities, … Continue reading BULLETED POINTS WITH RESPECT TO RED ZONES (OUTSIDE CONTAINMENT ZONE) FOR EASE OF UNDERSTANDING DURING LOCKDOWN 3.0
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