GST is expected to Transform and prove to be a boost for over $130 billion Logistic Industry. The logistics space in India is expected to grow at a rate of 9-10 percent over the medium-term” according to rating agency ICRA. While the key driving factor on the demand side would be the economic recovery, the trend towards outsourcing of non-core activities like logistics, warehousing and associated activities to integrated players is likely to drive the share of the organized segment, it said.The domestic sector is currently in a transformation phase with game-changing trends like implementation of GST, increasing focus by foreign investors across the logistics value chain, growing demand for end-to-end solution providers and emergence of new avenues such as e-commerce, logistics parks, cold chains and new startups. Further it said “The government’s thrust towards building multi-modal transportation infrastructure is also likely to have a significant influence,”
Briefly the facts of the case as noted in the assessment order are that in this case assessment for A.Y. 2006-2007 has been reopened after recording satisfaction and obtaining approval of Addl. CIT, Range-25, New Delhi, under section 17 of the Wealth Tax Act.
Where on account of an inadvertent error, PAN of the deductee was wrongly mentioned by assessee, in TDS return, AO was not justified in not permitting the assessee to correct PAN of the deductee, putting the limitation of permitting corrections of only four characters. The case was, therefore, remanded.
Select Infrastructure Pvt. Ltd Vs. Addl. CIT (ITAT Delhi) Here in this case, qua the retail space, the assessee was not carrying on any systematic or organized activity of providing service to the occupiers of the shops, albeit other service charges pertaining to the common maintenance, event and advertising, parking fees, etc., has been offered […]
Date of supply is one of the most important factors for UAE VAT as Tax liability to be calculated on this date. As per Article (25) of the UAE VAT Law, earlier of the following is the date of supply:
Department of Agriculture, Co-operation and Farmers’ welfare has brought to the notice of this Directorate about various instances of non-compliance of Sanitary/ Phyto-sanitary measures by Indian Exporters while exporting goods. Importing Countries have been making complaints against Indian exporters, which amounts to disrepute to the image of the country and that can adversely impact the interest of other exporters as well as of country as a whole.
It is said that all that glitters is not gold. Yes, that is true, but even gold with all its glitters is of no use when kept idle. The Gold Monetization Scheme, as introduced by the government of India, aims to monetize gold so that it earns interest.
In the Companies Act, 2013, in section 247, in sub-section (1), for the words a person having such qualifications and experience and registered as a valuer in such manner, on such terms and conditions as may be prescribed, the words a person having such qualifications and experience, registered as a valuer and being a member of an organisation recognised, in such manner, on such terms and conditions as may be prescribed shall be substituted.
A division bench of the Bengaluru ITAT, on Tuesday held that the distribution fee paid by Google India to Google Ireland for use of its Ad words programme is taxable in India as royalty under the provisions of the Income Tax Act, 1961.
Provided also that in case the officially valid document presented by a foreign national does not contain the details of address, in such case the documents issued by the Government departments of foreign jurisdictions and letter issued by the Foreign Embassy or Mission in India shall be accepted as proof of address.
