IBC and GST Laws – Inherent contradictions coming in way of timely resolution of insolvent companies When a Company becomes insolvent, numerous issues arise. The Government enacted Insolvency and Bankruptcy Code, 2016 (‘the Code’) to address such issues and make...
A retrospective amendment under GST law – A dead claim of interest, coming alive? One of the most significant issues surfacing in the GST law is the lack of consensus between the Legislature and the Government in implementing the same. Resultantly, the colossal gap...
New restrictions to avail Input Tax Credit – Practical challenges to follow! The Central Government has recently introduced a restriction vide Rule 36(4) of the CGST Rules. This Rule provides that before availing input tax credit (ITC), one needs to ensure that...
Recovery of Sanctioned Drawback – A Case of Missing Machinery Power to levy or collect tax should be rooted in the legislation and cannot be presumed. In specified cases, certain powers are conferred through delegated legislation. Any action by the Revenue which...
Imparting Justice under GST: Absolute Encroachment of Judicial Domain? In a landmark move, the Madras High Court vide its judgment in the matter of Revenue Bar Association v. Union of India, has struck down the provisions containing constitution and appointment of...
‘Sabka Vishwas’ Legacy Dispute Resolution Scheme: Too good to be true? The new Legacy Dispute Resolution Scheme – ‘Sabka Vishwas’ is live from September 1, 2019. The Scheme is a one-time measure for liquidation of past disputes of Central Excise and...
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