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Archive: 23 October 2017

Posts in 23 October 2017

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

May 15, 2024 7170 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.

Clarification related to guidelines for establishing PoEM in India

October 23, 2017 4353 Views 0 comment Print

Para 7 of POEM guidelines provides that the place of effective management in case of a company engaged in active business outside India (ABOI) shall be presumed to be outside India if the majority meetings of the board of directors (BOD) of the company are held outside India.

CBEC notifies 0.1% IGST on intra-State supply of taxable goods for export

October 23, 2017 94110 Views 1 comment Print

Notification No. 41/2017-Integrated Tax (Rate)- Seeks to prescribe Integrated Tax rate of 0.1% on inter-State supply of taxable goods by a registered supplier to a registered recipient for export subject to specified conditions.

CBEC notifies 0.05% Tax Rate on intra-State supply of taxable goods for export

October 23, 2017 122550 Views 9 comments Print

GST Council, hereby exempts the intra-State supply of taxable goods by a registered supplier to a registered recipient for export, from so much of the central tax leviable thereon under section 9 of the said Act, as is in excess of the amount calculated at the rate of 0.05 per cent, subject to fulfillment of the following conditions, namely:

CBEC notifies 0.05% UTGST on intra-State supply of taxable goods for export

October 23, 2017 1704 Views 0 comment Print

Notification No. 40/2017-Union Territory Tax (Rate)- Seeks to prescribe Union Territory tax rate of 0.05% on intra-State supply of taxable goods by a registered supplier to a registered recipient for export subject to specified conditions.

GST, demonetisation may impact Indian wedding market growth: ASSOCHAM

October 23, 2017 702 Views 0 comment Print

The upcoming wedding season starting in November may be impacted by 10-15 per cent particularly wedding services like marriage garden/marriage hall booking, tent booking, confectionery services, photography and more, reveals by industry chamber ASSOCHAM.

GST changes bring relief to small businesses

October 23, 2017 6126 Views 1 comment Print

On 6th October, 2017, the GST council under the Chairmanship of the Union Minister of Finance and Corporate Affairs, Arun Jaitley held a meeting to review the impact, concerns and progress of the tax regime. The meeting also focused on bringing in necessary changes for the benefit of tax payers.

The Interim Insolvency Resolution Professional’s ‘Russian Roulette’

October 23, 2017 1851 Views 0 comment Print

The Insolvency and Bankruptcy Code 2016 (Code), which became law in May 2016, is looked upon by both the business and the professionals with a lot of expectations. It is natural that like many new things, this code too is to settle down and it is one of its kinds.

Protective addition in hands of agents without providing opportunity of being heard is invalid

October 23, 2017 1119 Views 0 comment Print

These two appeals of the same assessee (assessed in the name of different agents) relating to the assess­ment year 2007-08 are directed against separate orders of the Commissioner (Appeals), Bareilly of the even date 27-9-2016 arising out of the order passed under section 144/147 of the Income Tax Act framed by the Income Tax Officer, Ward-1(3), both dated 3-3-2015.

Overview of Ind-AS 16: Property, Plant and Equipment

October 23, 2017 24057 Views 3 comments Print

Accountancy, more-often-than-not, is erroneously sighted as a static science. It is a common belief that the principles of accountancy do not change, sans their operating environment, or the circumstances which confront them. You always debit the receiver and credit the giver, whether you are on Earth or Mars.

Katrina Kaif gets relief from ITAT against additions in Search Assessment

October 23, 2017 2691 Views 0 comment Print

In the year 2011, a search conducted on the premises of the residence of the assessee resulted in recovery of certain documents on the basis of which, the department made some addition on account of undisclosed income arising out of appearance fee in ICC Awards function, unexplained expenditure etc.

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