Archive for author: Shine Wing

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Publications

Equalization Levy 2.0 or 2.1 – The Pandora’s Box Just Got Deeper

Equalization Levy was first introduced in Finance Act, 2016.  At the initial, it was restricted to only online advertisement/ digital advertising space and was charged on the non-resident entity, but ...

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Articles GST

PLI scheme for Telecom Sector gets Government’s approval

The Government in November 2020 had announced to introduce Production-Linked Incentive (PLI) Scheme in the following 10 key sectors for Enhancing India’s Manufacturing Capabilities and Enhancing Exports – Atman...

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Articles Corporate

Amendment to Companies (Share Capital and Debentures) Rules, 2014

The Ministry of Corporate Affairs (MCA), vide a notification dated 11th February 2021 has made amendment to The Companies (Share Capital and Debentures) Rules, 2014, whereby it has amended the time limit for sh...

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Articles GST

Importer-Exporter Code (IEC)

The Director-General of Foreign Trade (DGFT), vide a notification dated 12th February 2021 has made amendment to Importer Exporter Code (IEC) related provision under Chapter-1 and Chapter-2 of Foreign Trade Pol...

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Articles Corporate

Amendment to Definition of a Small Company

The Ministry of Corporate Affairs (MCA), vide a notification dated 1st February 2021 has made amendment to The Companies (Specification of Definitions Details) Rules, 2014, whereby it has amended the definition...

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Publications

Union Budget Synopsis 2021-22

The FM’s third Budget tackles the considerable wishlist of industries and consumers that were impaired by the #COVID19 pandemic, while acknowledging the spending challenges of the administration.We present this...

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Articles GST

Applicability of GST on Salary paid to Director of Company

Brief Facts of the case: The appellant, M/s Clay Craft (India) Pvt. Ltd. are engaged in the manufacture of Crockery, Utensil items and moulds.Company’s Board of Directors consists of 6 directors performing a...

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Articles GST

GST is applicable on Notice Pay Recovery from Employees

Brief Facts of the case: The applicant is a 100% Export Oriented Unit engaged in Manufacturing of pharmaceutical products.At the time of appointing an employee, they enter into a contract with the employee b...

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Articles RBI / FEMA

Introduction of Legal Entity Identifier for large value transactions of INR 50 crores or more in Centralized Payment System

With effect from April 1, 2021, The Reserve Bank of India has decided to introduce the LEI system for all payment transactions of value INR 50 crore and above undertaken by entities (non-individuals) using Nati...

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Articles Corporate

Amendment- Companies (Appointment and Qualification of Directors) Rules, 2014

Ministry of Corporate Affairs has made following amendments to the Companies (Appointment and Qualification of Directors) Rules, 2014 wide notification dated 18 December 2020. These shall come into force on the...