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...
Distribution of assets in company liquidation must exclude third-party assets before applying the statutory waterfall: exclusion of amounts held for employees (provident, pension and gratuity funds) takes precedence over general distribution rules, and sums determined under EPF provisions fall within all sums due to workmen. Such employee entitlements constitute third-party assets even if not held in a dedicated account and must be removed from the liquidation estate prior to distribution. Misclassification by the liquidator requires corrective relief: the financial creditor was directed to remit the disputed amount to the employee fund claimant and report compliance to the adjudicating authority for record correction.
Distribution of assets in company liquidation must exclude third-party assets before applying the statutory waterfall: exclusion of amounts held for employees (provident, pension and gratuity funds) takes precedence over general distribution rules, and sums determined under EPF provisions fall within all sums due to workmen. Such employee entitlements constitute third-party assets even if not held in a dedicated account and must be removed from the liquidation estate prior to distribution. Misclassification by the liquidator requires corrective relief: the financial creditor was directed to remit the disputed amount to the employee fund claimant and report compliance to the adjudicating authority for record correction.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
