In recent times, India Inc. has witnessed a paradigm shift in the conduct of business. With the Insolvency and Bankruptcy regime (IBC) kicking in, companies are becoming exceedingly wary of any defaults in repaying creditors and banks, fearing that creditors/ lender banks may drag them to the NCLT for resolution.
What are the objects and reasons for which the Real Estate (Regulation and Development) Act 2016 has been framed? Ans: The Real Estate Act is intended to achieve the following objectives:
Another suggestion was made to lower the Corporate Tax up to 20% by removing all exemptions in order to make it competitive at international level. It was also suggested to tax Long Term Capital Gains to bring equity and raise revenue, reduce MAT (Minimum Alternate Tax), and announce the road map for GST including convergence of rates, extending time for transactions’ matching etc.
There is no requirement to file separate refund for IGST paid on export of goods. The Shipping Bills filed by the taxpayer itself is treated as refund application and the refund amount is processed and paid to the taxpayer if the following conditions are fulfilled:
Question No. 1: How to claim refund of IGST paid in course of supply to SEZ unit under zero rated supply? Answer: Please refer to the circular no 17/2017. Question No. 2: GST for the education counseling agencies contracted by the overseas universities- will it be covered under export or not?? Commission earned in foreign […]
Time management is a topic that has been spoken about by large number of scholars or rather by intellectuals. One must feel that this is a most discussed, explained, trained about topic in the world.
Tax free Bond for Telecom; Lowering GST on Telecom services to 12 per cent instead of 18 per cent; BCD on all non ITA-1 products; Depreciation benefits for Make in India; Promote components hub; Keep Electronics Sector out of RCEP and increase import duty on Mobile handsets.
Vinita Ranka Vs ITO (ITAT Jaipur) There is no dispute that during the course of assessment proceedings the AO noted that the bank transactions including the deposit in the bank and outward transaction are more than Rs. 4 Crores. The assessee then filed revised computation of income and admitted the turnover of more than Rs. […]
The New Delhi bench of Income Tax Appellate Tribunal on yesterday ruled that the amount received as subsidy from the State Government under Capital Investment subsidy is not taxable under the Income Tax Act as it is capital in nature.
GST has been applicable from 1st July but Sales tax department has issued notification regarding VAT Audit on 8th December. Please explain in details regarding VAT Audit.
