India Inc gets a boost as MCA extends virtual AGM and EGM Facility until Sept 2025

Does the IBC offer a ‘clean slate’ immunity that prevents the Enforcement Directorate from attaching or seizing a company’s assets under the PMLA, once the business has been transferred to a new owner through an NCLT-approved resolution plan?  This fundamental conflict between the commercial imperative of corporate revival and the state’s mandate to seize proceeds of crime was definitively addressed […]

The anti-profiteering framework under Section 171 of the CGST Act1 was introduced to ensure that the structural tax efficiencies promised by GST are ultimately transferred to consumers through reduced pricing. In its early application, the provision largely operated on a straightforward premise where GST widened the availability of Input Tax Credit (“ITC”), and suppliers could not retain the resulting tax […]

Few provisions under the GST framework have witnessed interpretive expansion as aggressively as Entry 5(e) of Schedule II to the Central Goods and Services Tax Act, 2017 (“CGST Act”)1, which treats “agreeing to the obligation to refrain from an act, or to tolerate an act or a situation, or to do an act” as a supply of services. What was […]