Under the GST regime the applicable tax rate on economy class passenger tickets has been reduced from 6% to 5% (non-creditable for goods), while the tax rate on business class has been increased from 9% to 12% with input tax creditable for both goods and services procured by airlines. Petroleum products including ATF are presently […]
This article discusses in details the taxability of renting of immovable property under GST.
The Central Government may, by notification, shall constitute a National Financial Reporting Authority / NFRA, an independent Regulator for auditors. (Section132). NFRA, a quasi – judicial regulator will replace the National Advisory Committee on Accounting Standards (Section 210A of the Companies Act, 1956).
This article discusses in details the list of Inputs not eligible for Input Tax Credit (ITC) under GST.
Bill of Supply format under GST in Excel Format as applicable from 01st July 2017
This appeal is filed by the assessee challenging the judgment of the Income Tax Appellate Tribunal (Tribunal for short) dated 26.9.2001. Appeal was admitted for consideration of following substantial question of law.
This Tax Appeal is filed challenging the judgement of the Income Tax Appellate Tribunal dated 28.08.2006. The Tax Appeal has been taken up for consideration of following substantial questions of law: [A] “Whether the Appellate Tribunal is right in law and on facts in confirming the order passed by the CIT(A) deleting the addition of […]
In the instant case the impugned property was sold at a value lesser than the value adopted for the purpose of stamp duty. Therefore the valuation determined for the purpose of stamp valuation is taken as sale consideration. However, such deeming provision cannot be applied to the provision of law as specified Section 54EC of […]
(i) Whether the findings of the Tribunal are perverse in holding that for the purpose of limitation under section 158BE, the period is to be counted from the date on which the direction under section 142(2A) is served on the assessee and not from the date of issuance of direction by the assessing officer under section 142(2A) ?
Registrar has reasonable cause to believe that the Limited Liability Partnership (LLPs), as per Annexure, are not carrying on any business or operation for a period of two years or more as the LLPs have not filed any financial statements for the last two financial years.
