Compliance guides
Law · GST
GST time of supply under sections 12 and 13
How the time of supply fixes when GST becomes payable: the earlier-of rule for goods under section 12 and services under section 13 of the CGST Act, and how reverse charge changes the trigger.
Law · Sections
Section 197 Companies Act managerial remuneration cap
How section 197 of the Companies Act, 2013 caps managerial remuneration in a public company: the 11% of net profits overall limit, the sub-limits for managing and other directors, and how a company pays more with approval.
Law · Sections
What powers can only the board exercise?
What powers the board of directors may exercise under section 179 of the Companies Act, 2013, which powers must be exercised only at a board meeting, the rule 8 list that cannot be delegated, and how these sit with the shareholder controls in section 180.
Law · Sections
Which board powers need shareholder approval?
Which powers the board can exercise only with a members' special resolution under section 180 of the Companies Act, 2013, the sell-the-undertaking rule, the borrowing limit over paid-up capital and free reserves, and which companies the section applies to.
How-to · GST
How does an inverted duty structure refund work?
What an inverted duty structure is under GST, how the accumulated input tax credit refund is claimed under section 54, the formula and the two-year time limit, and why input services and capital goods are outside the refund.
How-to · GST
What are the conditions to claim input tax credit?
The four conditions in section 16 of the CGST Act for claiming input tax credit, the invoice and receipt tests, the GSTR-2B and supplier-payment rules, the 180-day payment condition, and the time limit to claim.
Law · Sections
How does a rights issue work under section 62?
How a company issues further shares under section 62 of the Companies Act, 2013, the rights-issue offer to existing shareholders, the 15 to 30 day offer window, the ESOP and preferential-allotment routes, and how the price is set.
How-to · GST
Who must register for GST regardless of turnover?
Which persons must register for GST irrespective of the turnover threshold under section 24 of the CGST Act, including inter-state suppliers, casual and non-resident taxable persons, reverse-charge payers, and e-commerce operators.
How-to · Tax
How does an NRI decide residential status?
How the 182-day and 60-day tests in section 6 fix residential status, what income an NRI is taxed on in India under the source rules, which ITR form applies, and how a DTAA changes the position.
How-to · GST
Who must file the GSTR-9 annual return?
When a registered person must file the GSTR-9 annual return, why filing is optional up to ₹2 crore turnover, how it relates to GSTR-9C, the 31 December due date, and how the late fee is capped by turnover.