Compliance guides
Law · Sections
Section 42 Companies Act private placement rules
How a company raises capital through private placement under section 42 of the Companies Act, 2013: the offer to identified persons, the 200-person cap, the separate bank account, the allotment window, and the return of allotment in Form PAS-3.
Law · GST
GST value of supply under section 15 explained
How the value of a taxable supply is determined under section 15 of the CGST Act: the transaction value rule, what is included such as incidental charges and interest for late payment, and what discounts are excluded.
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.