Sunday, August 25, 2019

GST: An Overview And Analysis






What is GST?
GST, short for the Goods and Services Tax, is a recently launch value-added tax passed by the government of India on 29th March 2017. It came into effect on 1st July 2017, and since then it has replaced all indirect smaller taxes in the country. It applies to goods and services used domestically. GST is paid by the consumers indirectly to the government (through the respective businesses).

GST serves as revenue for the government and has eliminated most state taxes. It is regarded as a "comprehensive, destination-based, multi-staged tax" since its imposed at various stages of production, though it is refunded to all but the final customer who buys it.

Like all taxes, GST too is governed by specific rules and regulations which are controlled by the GST Council (GSTC). GSTC was started by the Good and Services Act, which consists of Union Finance Ministers and Finance Ministers of all the states. GST has received a ton of criticism since it's implementation, and debates are still on about its pros and cons. Its main motive was to replace various indirect taxes and redesign the nation's economy in a more planned manner.

What Effect Did GST have on the market?
There have been numerous speculation on what impact GST had on the economy and market of the country. Here's a list of what changes GST brought with it, based on facts:

GST has reduced tax burden from the producers and thus encourages more and cheaper production. The previous taxation structure controlled by an infinite number of clauses prohibited the Read More





















FSSAI - New rules to curb misleading advertisements




The Food Safety and Standards (FSSAI) (Advertising and Claims) Regulations, which were implemented from 1 July, are supposed to make celebrities, who subscribe to food products, more answerable. The laws will also initiate fairness in claims made by packaged food business house.
The Food Safety and Standards Authority of India (FSSAI) is a statutory body established under the Food Safety and Standards Act, 2006. The Advertising Standards Council of India (ASCI) is a self-regulatory body that broadcasts responsible advertising. These two authorities have come together against ambiguous advertisements in the food and beverages section and have signed Memorandum of Understanding (MOU) for the same.
Minister of Information and Broadcasting said in the Lok Sabha that the regulations are the intention to establish fairness in claims & advertisement of food products and make food business answerable for such claims & advertisements. 
The regulation clearly states that any person including third-party who advertises; or a part of the broadcasting of any misleading advertisement not in accordance with these regulations; would be punishable as per Section 53 of the Food Safety and Standards Act, 2006.
The Section 53 of the Food Safety and Standards Act, 2006, identifies that any person who broadcasts or a party to the broadcast of an advertisement, which deceitfully describes any food or is likely to be deceptive regarding the nature, substance, quality of any food or gives erroneous guarantee, will be liable to a penalty of maximum of Rs.10 lakhs.
As per the Department of Consumer Affairs, there is no allocation in the Consumer Protection Act 1986 to summon celebrities endorsing food products.
The purchaser can make a complaint against the prejudiced business practice in a consumer forum established under the Consumer Protection Act, 1986.
If the complaint is endorsed, the Consumer Forum can issue an order to the opposite party ordering him to remove the Read More


Monday, August 19, 2019

Significance of Law in Society




The law is significant for the general public for it fills in as a standard of lead for residents. It was likewise made to accommodate legitimate rules and request upon the conduct for all residents and to support the value on the three parts of the legislature. It keeps the general public running. Without law, there would be a disorder, and it would be survival of the fittest and every man for himself — not a perfect way of life for generally part. 

The law is significant because it goes about as a rule concerning what is acknowledged in the public arena. Without it, there would be clashes between social gatherings and networks. We must end them. The law takes into consideration simple reception to changes that happen in the general public. 

Society is a 'web-relationship,' and social change implies an adjustment in the arrangement of social relationship. There is social relationship comprehended as far as standard procedures with social connections and associations. In this way, the term, 'social change' is utilized to demonstrate alluring varieties in the social establishment, standard procedures, and social association. It incorporates adjustments in the structure and elements of the general public. Closer examination of the job of Law opposite social change drives us to recognize the direct and the roundabout parts of the duty of law. 

1. Law assumes a significant circuitous job concerning social change by molding an immediate effect on society. For instance: A law setting up is a mandatory instructive framework. 

2. Then again, law interfaces as a rule in a Read More 

Drugs and Cosmetics Act - Explained


The Government of India establishes an act which manages the import, produce and dealing out drugs in India. The central idea of the Act is to make certain that the drugs and cosmetics sold in India are safe, secure fruitful and conform to stipulate quality standards. The drugs Act was composed in 1940 in ensuing of recommendations of Chopra Committee established in 1930 by Indian Government. The drugs covered under the Drugs and Cosmetic Act wide varieties of remedial substances, distinctive and medical implementation.

Pursuant the Act cosmetic means any article intended to be rubbed, poured, sprinkled,  or sprayed on, introduced into, or otherwise applied to the human body or any part thereof for cleansing, beautifying, promoting attractiveness or altering the appearance, and includes any article intended for use as a component of cosmetic but does not  include soap. The Act has been additionally amended as Drugs (amendment) Act 1964 (13 of 1964) to include Ayurvedic and Unani drugs.
The Drugs Act, as validated in 1940, has since been amended many times and is now entitled as “The Drugs and Cosmetics Act, 1940”.
The drug laws were publicizing in 1945 December and imposition of these laws started in 1947. To meet the requirements of the Read More

Sunday, August 11, 2019

Labour Law Compliance in India




India has seen a huge development of business and economic growth in the recent times. Labour Law compliance is basically set of terms or conditions of employment. For carrying out business, corporations are required to meet statutory compliance requirements. There are many laws and acts that a firm is required to follow. If the corporation fails to comply with the regulations then it may lead towards punitive action from the concerned authorities. There are central laws, as well as there are state laws with which a business is required to comply with.
Labour Law primarily focused on safeguarding the protection of the rights of employees in India. It regulates companies, workers as well as trade unions through several compliances towards securing the rights of the workers and labour at large. However, labour law compliances are imposed by the State as well as the Central Government.  Abiding to Labor Law compliances is essential for every big and small company to keep their businesses safe and secured from any legal trouble.
In this article, we would state certain key provisions and applicability criteria of the various labour laws compliance applicable in India.
Importance of labour compliance
The companies in India must carry out statutory compliance under various Labour Laws. The range of labour compliance is Read More 











What Are The Compliance requirements To Do Business in India?



What are the compliance requirements to do business in India?
 Business in India can be formed by various company structures, ranging from a joint venture to a liaison office. 
In India business has been made faster by merging the applications for the Permanent Account Number (PAN) as well as the Tax Account Number (TAN) as well as with the incorporation procedure under the Ministry of Corporate Affair (MCA). Though, it takes few weeks to complete all the necessary procedures to form a company, along with the fees and additional costs reliant on the size and type of business being registered.
The types of Company Registration in India as per Companies Act 2013 are; Private Limited Company; Public Limited Company; Unlimited Company; Partnership; Limited Liability Partnership; One Person Company; Sole proprietorship; Section 8 Company; Subsidiary Company; Liaison Office / Representative Office; Project Office; Branch Office; Joint Venture Company.
Also startup companies in India can register themselves through either Partnership Firm; Limited Liability Partnership Firm; Private Limited Company;
Compliances requirement for the companies in India
· When the incorporation certificate is obtained, a separate legal entity for the corporation must be established.
· When the company receives its incorporation certificate, within 30 days, then one of the directors should issue the notice for Read More

Wednesday, August 7, 2019

What Is The Bankruptcy Code?

Bankruptcy is a legal term which is used to describe a person or an entity which is no longer sufficient enough to pay off its creditors. The process of bankruptcy usually starts with a petition, which is filed by the debtor that he can no longer pay off his debts. After that all of the debtor’s properties, assets and bank balance are evaluated and sealed which are then used to repay the unresolved debt.
Bankruptcy filing differs from country to country but in most cases it is levied by a court order after the petition is filed by the debtor.
 Although the process of bankruptcy is a relief for the insolvent debtors to free themselves from unsettled debts but in Read More 

How To File A Consumer Complaint In India ?

Not all sellers are reliable in today’s market, a few sellers if not all, rely on unfair trade practices to sell fake or inferior quality goods to their customers in order to save costs and increase their profit. The Consumer Protection Act, 1986 was enacted to protect the interests of the consumers and also to provide legal remedies to consumers who feel that they have been forced upon with defective and faulty goods/ services.  
Who Can File A Consumer Complaint? 
As per section 2 (1) (d) of the Consumer Protection Act, 1986 , A consumer is a person who buys goods or services for consideration which may be partly or fully paid or partly or fully promised or any other person who may consume goods with the approval of buyer and not for manufacturing or resale purpose. 
In simple words following are the people who can file a complaint:
  1. Anyone who paid fully or partially for the goods or service   
  2. Anyone who received goods and service for free by Read more 

Thursday, August 1, 2019

Confusion and How Law Students and Young Lawyers Fall Victim to it



It is exceptionally difficult to say which. This tiring round of score-keeping can remove you from your genuine objective, and leave you disappointed even though you continue buckling down on accomplishing one thing after another.

Accomplishment as a legal advisor is controlled by just a single thing: How great a legal counselor you are. How great an attorney you are is dictated by just a single thing: Whether you are ready to convey results to your customers?

When you have clarity about this, your reality will become all-good. You will quit pursuing a great many milestones, and pursue the one thing that truly matters to you. Curiously, when you do that, different markers of progress will be in all respects effectively accessible to you, in manners you can't even envision today.

My dad had a fantasy that I will go to IIT. I did not want to. Examining the building did not rouse me. I needed to be a legal counselor. In 2013, I drove a 4-hour corporate fund workshop at IIT Kharagpur, gone to by more than 300 understudies, for which every one of them had paid. I have taken workshops in different IITs and NITs the nation over as well.

I told my dad. Demonstrated to him the photos. I don't think he was convinced even at that. Nonetheless, my point is that on Read More 

This Constitution Day, let us thank lawyers | Lawyered.in

This Constitution Day, let us thank lawyers who have worked with integrity and justice in their minds, for the sake of making the society a...