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GST Cafe | Supreme Court holds GST on ocean freight unconstitutional, also holds GST council decisions to be not binding

CONTEXT GST was sought to be levied vide notification no. 10/2017-Integrated Tax (Rate) read with notification no. 8/2017-Integrated Tax (Rate) on ocean freight for CIF imports. CIF transactions are such where the freight is borne by the supplier. Such CIF value is also considered for levy of customs duty. Aggrieved by the levy of GST […]

Competition News Bulletin – May 2022 – Newsletter January

We are glad to share the May 2022 edition of our newsletter – Competition News Bulletin. Some highlights of this issue are as under: Competition Commission of India (CCI) directs investigation against Zomato and Swiggy CCI directs investigation against Star TV CCI directs investigation against Google CCI finds NECC guilty of distorting the egg market in India […]

TaxBuzz | Demystifying the decision of Supreme Court on reassessment notices

The Hon’ble Supreme Court has on 04.05.2022 pronounced much awaited decision in the case of Union of India v. Ashish Agarwal: C. A. No. 3005/2022. The said decision of the Hon’ble Supreme Court will give rise to numerous issues and litigation will not be put to rest. In this Tax Buzz, we have analyzed, repercussion […]

Between the Lines | NCLT: No insolvency proceedings can be initiated under the Insolvency and Bankruptcy Code, 2016, against personal guarantors of Non-Banking Financial Companies unless threshold of asset of INR 500 Crores is satisfied

The Hon’ble National Company Law Tribunal, Jaipur (“NCLT”) has by its order dated February 22, 2022, in the matter of Shapoorji Pallonji Finance Private Limited v. Rekha Singh [IA No. 229/JPR/2021 in C.P. No. (IB) – 25/95/JPR/2021] held that no insolvency proceedings can be initiated under the Insolvency and Bankruptcy Code, 2016 (“IBC”) against personal […]

Between the Lines | NCLAT: There is no conflict between Section 17B of the Employees Provident Fund and Miscellaneous Provisions Act, 1952 and the Insolvency and Bankruptcy Code, 2016

The National Company Law Appellate Tribunal (“NCLAT”) has in its judgement dated March 11, 2022 (“Judgement”), in the matter of Sikander Singh Jamuwal v. Vinay Talwar Resolution Professional and Others [Company Appeal (AT) (Ins)No. 483 of 2019] held that there was no conflict between Section 17B (Liability in case of transfer of establishment) of the […]

Between the Lines | NCLT: Resolution Plan cannot be rejected on a perceived grievance by a suspended director who failed to take steps

The National Company Law Tribunal, Kolkata (“NCLT”) has in its order dated February 17, 2022 (“Order”), in the matter of Anand Kariwala v. Partha Pratim Ghosh and Others [I.A. (IB) No. 20/KB/2021 in CP (IB) No. 533/KB/2018], held that a resolution plan cannot be rejected on a perceived grievance by a member of the suspended […]