Recently I walked into a showroom to buy the motorcycle of my dreams, the Harley Davidson Street. Purchasing this exotic superbike had been on my mind for a long time. However, with a price tag of INR 5.75 lakh, making an outright payment was not possible.
There are many instances where an entity distributes its assets e.g. Property, plant & equipments or unit of its business i.e. in a form of Demerging an entity or distributing an ownership interest in an entity (may be subsidiary) by way of dividend to its existing shareholders.
Many of the companies had created multiple units in the past to save on taxes but such incentives will cease to exist under GST. How GST Model will impact these companies?
Keeping in view of the new process under NCLT for conversion of a Public Company into a Private Company and as the Ministry of Corporate Affairs (MCA) has provided various exemptions to Private Company under various provisions of the Act, many Public Companies want to convert themselves into Private Company.
In the Education and Training Industry will also be impacted by GST and impact is elaborate in the following 5 aspects:-Tax Payment, Registration, Input Tax Credit, Returns, Refund
In step with the government’s Digital India initiative, Central Board of Excise and Customs has launched a mobile application for Goods and Services Tax.
