Revenue Secretary Dr. Hasmukh Adhia holds detailed review of IT-Preparedness for the roll-out of Goods and Services Tax (GST) from July 01, 2017.
E- Commerce, a term unheard of a few years ago has now become “Apnidukaan” in the words of Amazon. On one hand, consumers get the advantage of comparing wide variety of products and their prices from the comfort of their homes, while on the other, E Commerce provides the seller an opportunity to grow their […]
Taxable event is that event, happening of which attracts liability to tax. Taxable event is a very important event in any law as the levy and collection of tax is based on the happening of the taxable event. Although, the taxable event happens to be at a particular point of time, the levy and collection of such tax may be postponed for administrative convenience, to a later date.
CS Ritu Nagpal Merger and Amalgamation The section has become effective w.e.f. 12-09-2013 Q.1 Can a section 8 company be amalgamated into manufacturing company? A. yes. As the purpose of the amalgamation of one company with another is to facilitate reconstruction of the amalgamating companies. Case Law: Sir Mathuradas Vissanji Foundation Vs. Walvis Flour Mills Co. […]
The basic principle of GST is that it should effectively tax the consumption of such supplies at the destination thereof or as the case may at the point of consumption. So place of supply provision determines the place i.e. taxable jurisdiction where the tax should reach. The place of supply determines whether a transaction is intra-state or interstate. In other words, the place of Supply of Goods or services is required to determine whether a supply is subject to SGST plus CGST in a given State or union territory or else would attract IGST if it is an inter- state supply.
The PIO stated that the PF contribution of employers are getting credited in someone else’s account instead of their respective PF account and consequently the appellant alleged that his PF money was sent to some other account and someone else’s PF money has been received in his account.
For the smooth roll out of GST, tax officials were required to be trained on the GST common portal of GSTN. However, there appears to be a huge difference between the working strength of tax officials and the number of officials trained.
Where specified bank notes have been confiscated or seized by a law enforcement agencies or produced before a court on or before the 30th day of December 2016, such specified bank notes may be tendered, at any office of the Reserve Bank specified under subsection (1) of section 4 of the Act or a nationalised bank designated by the Reserve Bank for the said purpose, for deposit in a bank account or exchange of the value thereof with legal tender,
It is, however, seen that a number of organizations which have applied for renewal have not uploaded their Annual Returns from FY 2010-11 to 2014-15. The renewal of registration cannot be granted unless the Annual Returns are uploaded by the organizations.
