- 10 Sep 2024 06:04 PM
- New
Procedure of Conversion of Loan into Equity shares
Source: https://taxguru.in/company-law/procedure-conversion-loan-equity-shares.html
Summary: Companies can convert loans into equity under certain conditions, as specified in their loan agreements. This conversion can improve the company’s balance sheet and debt-to-equity ratio, leading to a more favorable growth outlook. The process involves obtaining shareholder approval through a special resolution, filing necessary forms with the Registrar of Companies, updating the loan agreement, and conducting board meetings for allotment. While conversion can offer benefits, it also has potential drawbacks, such as dilution of existing equity, reluctance from creditors, and restrictions on share trading. Companies must carefully consider these factors before deciding to convert loans into equity.
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- 10 Sep 2024 05:47 PM
- New
Bikaji Foods, Gopal Snacks, Prataap Snacks shares jump up to 10% after GST cut on namkeen
Bikaji Foods share price gained as much as 7.76%, while Gopal Snacks share price jumped 10% and Prataap Snacks shares surged 8.05%.
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- 10 Sep 2024 05:52 PM
- New
India’s urban agglomerations are no longer held back by state boundaries
Sarjapura is a small town lying at the very edge of the expanding Bengaluru metropolitan sprawl. It is geographically closer to the town of Hosur than to the centre of Bengaluru. Reaching it by car from Bengaluru airport can sometimes take close to three agonizing hours. The drive from the proposed airport in Hosur is expected to be far more convenient.
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- 09 Sep 2024 06:27 PM
GST Council meeting today: Delhi govt to oppose Goods and Services Tax
GST Council meeting today: Delhi govt to oppose Goods and Services Tax on payment gateway; ‘hypocrisy’ says Atishi
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- 09 Sep 2024 06:23 PM
Top Events of the Day: Apple to unveil iPhone 16 at Glowtime event and more
Top Events of the Day: Prime Minister Narendra Modi will meet Abu Dhabi Crown Prince Sheikh Khaled bin Zayed Al Nahyan to discuss key bilateral relations. Meanwhile, Bajaj Housing Finance, India’s second-largest housing finance NBFC, opens its much-anticipated IPO for subscription. In the tech world, Apple is set to launch its highly awaited iPhone 16 series during the 'It’s Glowtime' event.
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- 09 Sep 2024 06:36 PM
GST Council Meeting Live Update: Council at broad consensus on insurance premium tax cuts, decision at next meeting
GST Council Meeting Live: One of the primary topics on the agenda is the potential reduction of GST rates on life and health insurance premiums. Currently set at 18%, a rate cut could significantly lower insurance costs for policyholders. The Council is expected to review a report from the fitment committee on the GST levied on life, health, and reinsurance premiums, along with its revenue implications.
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- 09 Sep 2024 06:40 PM
Auto industry contributes nearly 15 per cent to total GST, says SIAM President
Auto sector contributes nearly 15 per cent to total GST, says SIAM president, as industry crosses ₹20 lakh crore mark
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- 09 Sep 2024 06:43 PM
Representation to Reduce fees for filing appeal to GST Appellate Tribunal
The All Gujarat Federation of Tax Consultants (AGFTC) and Income Tax Bar Association (ITBA) have submitted a representation to Finance Minister Nirmala Sitharaman, addressing the high fees for filing appeals with the GST Appellate Tribunal. Currently, the fee structure under the GST Act stipulates fees ranging from ₹10,000 to ₹50,000 for appeals, which the associations deem excessive compared to similar provisions under the Income Tax Act. They advocate for a more reasonable fee structure aligned with the income tax appeals process, where fees range from ₹500 to ₹10,000. The suggested revisions would impose a fee of ₹1,000 to ₹10,000 depending on the case’s tax or input tax credit involved, ensuring a fairer and more accessible appeal process for taxpayers. The associations request the government to consider these changes to create a more equitable and streamlined taxation system under GST, benefiting both taxpayers and businesses.
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- 09 Sep 2024 06:34 PM
GST Council today: Insurance premium tax, online gaming report — Expectations
GST Council meet today: From insurance premium taxation, rate rationalisation, to online gaming report — What to expect
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- 07 Sep 2024 05:46 PM
Foreign airlines, IT services, pvt R&D on GST Council agenda
On Monday, the Goods and Services Tax (GST) Council will take up the issue of taxing services related to foreign airlines in India, relief for certain helicopter services, work related to software exporters such as Infosys Ltd, and core research by private enterprises.
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