Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Constitutional Validity of Circular - The court examined whether the Circular introduced new legal standards beyond the scope of the IBBI's authority and whether it applied retrospectively, affecting the petitioner's past actions. - The High Court invalidated parts of the Circular that introduced new requirements for the computation of liquidators' fees, marking them as substantive amendments that could not be enacted without following the prescribed legislative process. Conversely, the Court recognized the IBBI's role in clarifying ambiguous aspects of the regulations, thereby facilitating better compliance by insolvency professionals.
Constitutional Validity of Circular - The court examined whether the Circular introduced new legal standards beyond the scope of the IBBI's authority and whether it applied retrospectively, affecting the petitioner's past actions. - The High Court invalidated parts of the Circular that introduced new requirements for the computation of liquidators' fees, marking them as substantive amendments that could not be enacted without following the prescribed legislative process. Conversely, the Court recognized the IBBI's role in clarifying ambiguous aspects of the regulations, thereby facilitating better compliance by insolvency professionals.
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