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Archive: 24 May 2017

Posts in 24 May 2017

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6462 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Revised law for Issue of summon and notice under PMLA

May 24, 2017 3432 Views 0 comment Print

(1) Every summon or notice shall be issued in Form 3 or Form 4 or Form 5 or Form 6, as the case may be, and signed by the Registrar or Administrative Officer.

Time of supply of services – A drafting anomaly

May 24, 2017 3834 Views 0 comment Print

The Goods and Service tax is going to the single biggest reform in Indirect Taxes of Independent India. It is going to radically change the way business is done in the country and is going to have a far reaching impact on our economy. The parliament has already cleared the Central Goods and Service Tax Bill among three others on 6th April 2017 thus given it the status of an Act.

Analysis of Term ‘Consideration’ defined in GST

May 24, 2017 50334 Views 1 comment Print

The tribunal held that there has been a supply of right, obligation and services under the contract between QUANTAS and the passengers, for which the unused fares were consideration as defined, and that the assessment were not shown to be excessive.

All about Registration of Charge under Companies Act, 2013

May 24, 2017 7596 Views 0 comment Print

Charge is The right of Bank/Financial Institutions who lend funds to a company to receive money from the company’s assets if the debt is not paid on time. As per section 2(16) of the Companies Act, 2013 define charges as to mean an interest or lien created on the property or assets of a company or any of its undertakings or both as security and includes as mortgage.

GST will trouble accounting and financial reporting?

May 24, 2017 9453 Views 0 comment Print

Currently, accounting treatment of various indirect taxes varies based on their nature and point of levy. Under IND AS, excise duty is included in revenue, since it is a production-based tax. Sales tax and VAT is not included in revenue, since it is levied at the time of sales.

Major achievements of Govt Social Security and Credit Schemes

May 24, 2017 1218 Views 0 comment Print

Through its Major Schemes, Department of Financial Services is ensuring financial inclusion, providing social security to the people as well as providing credit to various sections of the society. The major achievements of various schemes under the Department are highlighted below

Addendum to GST Rate Schedule For Goods

May 24, 2017 3990 Views 2 comments Print

The list of goods for which the GST rates are yet to be decided by the GST Council, the following entries may be added: (i) Cereals and flour put up in unit container and bearing a registered brand (ii) Puja samagri including havan samagri will be under Nil category. However, the exact formulation for the same is yet to be finalised.

Input Tax Credit under GST- Part I

May 24, 2017 9996 Views 2 comments Print

जी.एस.टी.के दौरान इनपुट क्रेडिट एक बहुत मुख्य भाग है और जी.एस.टी. की एक जो सबसे अच्छी बात है वह यह है कि अब आपको लगभग उन सभी सेवाओं और माल की खरीद पर चुकाए हुए कर की इनपुट क्रेडिट मिलेगी जो कि आप अपने व्यापर के दौरान व्यापर की बढ़ोतरी के लिए – During the course of business and for furtherance of business खरीदते या प्राप्त करते है.

Sensex crosses 30,000! What’s next in store?

May 24, 2017 1275 Views 0 comment Print

In the final week of April, the S&P BSE Sensex crossed the 30,000 mark – a symbolic breakthrough – to close at an all-time high of 30,133 points. Some of the best performing sectors have been consumer durables, banks, and oil and gas.

Insolvency and Bankruptcy Code (Removal of Difficulties) Order, 2017

May 24, 2017 1446 Views 0 comment Print

In the Insolvency and Bankruptcy Code, 2016, in the Eighth Schedule, relating to amendment to the Sick Industrial Companies (Special Provisions) Repeal Act, 2003, in section 4, in clause (b), after the second proviso, the following provisos shall be inserted, namely:—

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