Destination based taxation is a system wherein revenue from tax relating to goods or services accrues to the jurisdiction where they are being ultimately consumed. It is also called consumption tax.
In order to obtain tax benefits, a Startup should – i. be a private limited company (as defined in the Companies Act, 2013) or a limited liability partnership (as defined under the Limited Liability Partnership Act, 2008) which is incorporated on or after the 1st day of April, 2016 but before the 1st day of April, 2019, and
ICAI has decided to form a group for reviewing the decision regarding noting of change in constitution on account of leaving of partner of firm and allied issues with the following members:
Article compares Revised ICDS (Income Computation & Disclosure Standards, Applicable From AY 2017-18 With Respective Accounting Standards
The concept of Job Work is very much integral to most of industrial activities that constitute outsourcing of some or all the activities to a third party. Thus job work means any person who undertakes any activity or carried on any process on goods belonging to another person (principal).
An attempt has been made from my side to share my knowledge and experience regarding Incorporation of a One Person Company under Companies Act, 2013 in the form of an Article.
Professionals who started their career in the Indirect tax space some 10- 15 years back in Asia would have never thought the kind of adrenaline rush, anxiety and tremendous professional growth opportunities they will experience in the coming years.
All forms of supply of services in relation to Education sector shall not be liable to GST as decided by the GST Council. IGST shall be levied on inter-state supplies whereas CGST & SGST/ UTGST shall be levied on intra – state / union territory supplies. Education shall be exempt from GST in terms of GST law while commercial coaching and training will continue to suffer tax in the form of GST as against Service Tax at present.
This appeal filed by the Revenue is directed against the order of the ld. CIT(A), Bikaner dated 20.05.2016 pertaining to A.Y. 2012-13.
As the Narendra Modi is about to complete three years in office, its biggest achievement on economic front would be the Goods and Services Tax which is near a roll-out, while financial inclusion, digitization and public investment on infrastructure like railways and power distribution are perceived as other credible steps for structural changes in the economy, the ASSOCHAM has said.
