As the UK nears the final phase of campaigning ahead of Thursday’s (July 4th) general election, a free trade agreement (FTA) with India is a key topic for both the incumbent Tories and the Opposition Labour. Efforts to finalize this pact, aimed at boosting the £38.1 billion bilateral trading partnership, have been ongoing. However, with India’s general election followed by […]
In this edition we have tried to bring to your notice, the latest amendments that followed in the month of June, 2024 issued by MCA, RBI and SEBI. MCA UPDATE MCA to roll out 9 more forms for statutory filing of forms on the V3 portal The MCA is launching the third set of the company forms (MSME, BEN-2, MGT-6, […]
Adani-owned Ambuja Cements buys Penna Cement Industries for an enterprise value of $1.25 billion (around INR 10,422 crores) for its 14 mtpa of cement grinding capacity and 10.3 mtpa of clinker capacity. While PCIL has been facing liquidity issues, a potential turnaround can enhance the value for Ambuja Cements. At the same time, utilisation ramp-up at PCIL shall bring in additional […]
In today’s corporate landscape, maintaining robust governance practices is imperative for sustained growth and stakeholder trust. Internal audit, Sarbanes-Oxley (SOX) audit, and Environmental, Social, and Governance (ESG) frameworks each play a pivotal role in enhancing corporate governance. This article explores the interplay between these three pillars, highlighting their significance in fostering transparency, accountability, and long-term value creation. Internal Audit Internal […]
GST Calendar –Compliances for the month of June’2024 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) July 10, 2024 GSTR-8 (Tax Collected at Source ‘TCS’) July 10, 2024 GSTR-1 July 11, 2024 IFF- Invoice furnishing facility (Availing QRMP) July 13, 2024 GSTR-6 Input Service Distributor July 13, 2024 GSTR-2B (Auto-Generated Statement) July 14, 2024 GSTR-3B July 20, […]
Important Judicial Precedents 1. As per the settled position in law, interest accrued on compensation received can be termed as capital receipt & hence, not taxable: HC [2024-TIOL-960-HC-DEL-IT_ITA 1114/2018 _PCIT-4 Vs. INS FINANCE AND INVESTMENT PVT LTD] It is pertinent to point out that this amount cannot be characterized as compensation granted by the Court on account of cancellation of […]