Limited liability partnerships (LLPs) in India will get two to three months to disclose ownership and improve governance after a set of proposed changes to the LLP Act are notified. The corporate affairs ministry has already got Parliament's approval for the amendments to the LLP law, adding the ministry wants to give time till May-June for their implementation, given the extent of changes.
Supreme Court has pronounced its judgment in the matter of Mohit Minerals (Ocean Freight matter). While upholding the judgment of Gujarat High Court, the Supreme Court has held that recommendations of GST Council are only recommendatory and not binding on Union and State. To summarise the Hon'ble Apex Court has ruled that GST is not leviable on ocean freight. CA Yashu Goel
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