Goods and Services Tax (India)

Goods and Services Tax (GST) is an indirect tax (or consumption tax) used in India on the supply of goods and services. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes. Multi-staged as it is, the GST is imposed at every step in the production process, but is meant to be refunded to all parties in the various stages of production other than the final consumer and as a destination-based tax, it is collected from point of consumption and not point of origin like previous taxes.

The Income-tax Act, 1961

The Income-tax Act, 1961 is the changing Statute of Income Tax in India. It provides for levy, administration, collection and recovery of Income Tax. The Government of India brought a draft statute called the “Direct Taxes Code” intended to replace the Income Tax Act,1961 and the Wealth Tax Act, 1957. However the bill was later scrapped.

Customs Duty

The Standard English Dictionary defines the term 'Customs' as duties imposed on imported goods or less commonly exported goods. Duties on import and export of goods have been levied from time immemorial by all countries. The Customs Act was passed in India by the Parliament in the year 1962, while replaced the Sea Customs Act, 1878.

Companies Act 2013

The Companies Act, 2013 is an act to consolidate and amend the law relating to companies. The Companies Act 2013 aims to improve corporate governance, simplify regulations and strengthen the interests of investors. This enactment makes our corporate regulations more contemporary.

Real Estate (Regulation and Development) Act, 2016

The Real Estate (Regulation and Development) Act, 2016 is an Act of the Parliament of India which seeks to protect home-buyers as well as help boost investments in the real estate industry. The Act establishes a Real Estate Regulatory Authority (RERA) in each state for regulation of the real estate sector and also acts as an adjudicating body for speedy dispute resolution. The bill was passed by the Rajya Sabha on 10 March 2016 and by the Lok Sabha on 15 March 2016. The Act came into force on 1 May 2016 with 59 of 92 sections notified. Remaining provisions came into force on 1 May 2017. The Central and state governments are liable to notify the Rules under the Act within a statutory period of six months.