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Khaitan & Co expands its regional presence in Chennai by bringing Assentio Legal within its fold

Assentio Legal, founded by partners Thriyambak Kannan, Rohan Cherian and Renu Gopalakrishnan have joined Khaitan & Co with their team of associates and support staff at the company s offices in Chennai and Bengaluru. ....

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Stock in warehouses: Policy change leaves 15,000 tonnes of toor dal imports stuck

The importers had warehoused the goods in free trade warehousing zones (FTWZs) even before the May 15 government notification on changing the category to “free.” ....

Madhya Pradesh , Abhisheka Rastogi , Tool Dal , Stock In Warehouses , Khaitan Amp Co , மத்யா பிரதேஷ் , அபிஷேக ரஸ்டோகி , கைதன் ஆம்ப் இணை ,

GST only on horse race commissions: Karnataka HC

GST only on horse race commissions: Karnataka HC
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Synopsis
Horse Racing clubs can pay goods and services tax on commissions instead of the full betting amount, the Karnataka High Court ruled on Friday, giving relief to these organisations that have long argued against the levy on the full amount.
Horse Racing clubs can pay goods and services tax on commissions instead of the full betting amount, the Karnataka High Court ruled on Friday, giving relief to these organisations that have long argued against the levy on the full amount.
“The petitioners are liable for payment of GST on the commission that they receive for the service that they render through the totalisator and not on the total amount collected in the totalisator,” Justice M Nagaprasanna said in the order. The petitioners in the case were the Bangalore Turf Club and the Mysore Race Club. ....

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Khaitan acts for Wadhawan Global on $13m slump-sale to Sachin Bansal for insurance play (Jan '20) - Legally India

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In Brief
Monday, 17 May 2021 17:54
Corporate M&A
Flipkart co-founder Sachin Bansal has acquired a general insurance company and applied for a bank licence, as he takes rapid strides to build a diversified financial services business after leaving the online retailer in 2018.
Navi Technologies, owned by Sachin Bansal, acquired 100% of the share capital of DHFL General Insurance from Wadhawan Global Capital for a deal consideration of nearly INR 100 crores, while selling a minority stake to IFC to bid for a banking licence. ....

Niren Patel , Sachin Bansal , Kriti Gangwar , Saswat Subasit , Wadhawan Global Capital , Khaitan Co , Global Capital Limited , Khaitan Amp Co , சச்சின் பன்சால் , வாதவன் உலகளாவிய மூலதனம் , கைதன் இணை , உலகளாவிய மூலதனம் வரையறுக்கப்பட்டவை , கைதன் ஆம்ப் இணை ,

Companies face customs duty, IGST on fake goods from China

Synopsis
One company that had imported ‘re-melted lead ingots’ from China, instead, was delivered chalk power. But it was asked to cough up duties on the amount paid for importing ingots.
One company that had imported ‘re-melted lead ingots’ from China, instead, was delivered chalk power. But it was asked to cough up duties on the amount paid for importing ingots.
Many Indian companies procuring raw material from China have been instead delivered chemicals mixed with water, chalk powder and paper by their suppliers. To make matters worse, they are charged customs duty and IGST based on the actual invoice. ....

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