Finance Minister Nirmala Sitharaman announced that the upcoming GST council meeting will address the rationalisation of tax rates, including potential changes to taxes and slabs. The Group of Ministers recently discussed maintaining the existing GST slabs at 5, 12, 18,…
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Foreign investors in Byju’s, such as General Atlantic and Prosus, sought the Supreme Court’s attention amid the company’s $1 billion dispute with U.S. lenders, leading to its insolvency. These investors, who own a combined 17% stake, highlighted concerns of mismanagement,…
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Hindustan Unilever has received a tax demand of Rs 962.75 crore from the Income Tax Department over non-deduction of TDS for acquiring intellectual property rights from GlaxoSmithKline. The company intends to appeal the order and claims it has a right…
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While individual tax dues of the entities under the scanner may not be very large, the tax liability of the industry, excluding penalty and interest, could add up to more than ₹1,000 crore, according to the people cited earlier. Experts,…
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Zee Entertainment Enterprises and Sony’s India units have settled all disputes related to their failed merger. Both companies have withdrawn their claims from the Singapore International Arbitration Centre and other legal proceedings. This resolution allows them to pursue growth opportunities…
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Separately, a set of amendments to the Insolvency and Bankruptcy Code (IBC) is being considered to fix any shortcomings in the law. “These reforms are aimed at expeditious loan recoveries, giving more legal backing to recovery tribunals, and addressing delay…
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