First, we should try to understand why we need to emphasise and understand Place of Supply. Since GST Law is based on point of supply ie. Destination based
The role of independent directors is considered to be of a great significance. Guidelines, role, functions and duties are broadly set out under Code of conduct under Schedule IV of Companies Act, 2013.
Goods and Services Tax would be a very significant step in the field of indirect tax reforms in India. By amalgamating a large number of Central and State taxes into a single tax, it would mitigate cascading or double taxation in a major way and pave the way for a common national market.
CBDT has further released data relating to distribution of income and tax payable in respect of returns filed for Assessment Years 2013-14 and 2014-15.
Unnscrupulous elements are putting into circulation Fake Indian Currency Notes of higher denominations in the course of normal transactions, taking advantage of the gullible and unsuspecting nature of some members of the public.
It has come to notice that some returns-of-income having ‘claim of refund’ pertaining to Assessment Years 2014-2015, 2013-2014 and 2012-2013 were not processed within the time-frame prescribed under sub-section (1) of section 143 of the Income-tax Act, 1961 (‘Act’).
The existing DTAA provided for residence based taxation of capital gains on shares. In line with India’s policy of taxation of capital gains on shares, the revised DTAA provides for source based taxation of capital gains arising from alienation of shares comprising more than 5% of share capital.
It is essential that officers working in various wings of Customs, Excise and Service tax department remain aware of legal provisions relating to their appointment, powers and functions under three main tax laws dealing with in-direct taxes, namely, Customs Act, 1962; Central Excise Act, 1944 and the Finance Act, 1994.
Reaction quote from Harish HV, Partner – India Leadership team, Grant Thornton India LLP on India’s ease of doing business ranking: “India’s ranking has improved only marginally in spite of the big ticket reforms and intentions of the Government over the past two years indicating clearly that the impact of these is yet to be […]
The consignments of un-shredded, compressed or loose scrap shall be cleared only through those EDI ports where Risk Management Module is operational.
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