IMPLEMENTATION OF COMMERCIAL COURTS ACT, 2015 IN INDIA
The main aim behind implementation of The Commercial Court Act, 2015[1] was to give an acceleration to “Make in India” programme by assuring ease of doing business in India and to enable the speedy disposal of high-end commercial disputes. The Act originally enacted as The Commercial Courts, Commercial Division and Commercial Appellate Division of High
Opinion Of Third Person Under Indian Evidence Act
In the natural course of evidence law, evidence is gathered based on statements noted from the witness which he gives from his understanding or conviction. But an exception to this general rule is given under sections 45-51 of The Indian Evidence Act, 1872. Chapter II of the act, focus on the fact that in certain
Recovery of debt in India banks
The Reserve Bank of India (RBI) said 12 accounts representing about 25% of the gross bad loans in the banking system would be eligible for immediate reference for bankruptcy proceedings. Indian banks are sitting on a stressed asset pile of close to Rs 10 trillion; of this, gross bad loans account for Rs 7.7 trillion
India Infrastructure & Policy Update
The Government of India (GoI) has amended its existing policy on foreign direct investment (FDI) and has allowed: 100% FDI in single brand product retail trading by only non-resident entity whether owner of the brand or otherwise; 51% FDI in multi-brand retail trading under government route; 49% FDI by foreign airlines in the capital of
SERVICES PROVIDED IN TAXABLE TERRITORY ALONE ARE TAXABLE
S.No. 6 of the notification no. 25/2012-ST dated 20.06.2006 exempts services provided by an arbitral tribunal or an individual as an advocate or a partnership firm of advocates by way of legal services to a business entity with a turnover up to rupees ten lakhs in the preceding financial year. Does the word ‘turnover’ include
Indirect Tax Notifications India
Notifications: Customs„X CBEC has issued a Notification No. 66/2012 ¡V Customs (Non-Tariff), dated 31st July, 2012 amending Notification No.36/2001-Customs (N.T) dated 3rd August 2001. For the full text of the Notifications, members may visit: http://www.cbec.gov.in/customs/cs-act/notifications/notfns-2012/csnt2012/csnt66-2012.htm CBEC has issued a Notification No. 67/2012 ¡V Customs (Non-Tariff), dated 1st August, 2012 regarding rate of exchange of conversion of each