Steering Committee on CSR

MCA has issued an Office Order informing the constitution of a Steering Committee to review functioning of CSR enforcement and to recommend a uniform approach for its enforcement. The Office Order can be accessed here. The Steering Committee is composed of officials of MCA, nominees from professional bodies and chambers of commerce. The terms of …

Report of the Insolvency Law Committee

The Insolvency Law Committee was set up on 16th November, 2017 to make recommendations to the Government on issues arising from the implementation of the Insolvency and Bankruptcy Code,2016, as well as on the recommendations received from various stakeholders. Now the Committee chaired by Mr. Injeti Srinivas, Secretary, MCA, has submitted its observations and recommendations …

RBI’s harsh stance on virtual currencies turns into prohibition

RBI has now issued a circular prohibiting dealing in virtual currencies. This can be accessed here. Reserve Bank has repeatedly through its public notices on December 24, 2013, February 01, 2017 and December 05, 2017, cautioned users, holders and traders of virtual currencies, including Bitcoins, regarding various risks associated in dealing with such virtual currencies. …

Provisions behind tax demand on CTS

We know that the IT department has raised a tax demand of Rs. 2,800 crores from Cognizant Technology Solutions India Private Limited (CTS India) and that its bank accounts have been attached. Also, now the Madras HC has passed an interim direction asking the Department to unfreeze the JP Morgan bank account of the Company …

E-Way Bill system goes live on April 1

This article covers a few basics of the E-Way Bill (EWB) mechanism, which has been effective since April 1, 2018 for inter-state movement of goods. EWB is an electronically-generated document supporting the movement of goods from one place to another and must be carried by the transporter evidencing the cause of movement of goods. This …