As data, the new oil of the digital era continues to drive the economies around the globe, privacy and protection of data is in the spotlight. On 25 May 2018, The European Union led the pack by enforcing GDPR into full-effect, thereby making a milestone in data protection laws across the European Union (EU). What […]
15% discount extended by the broadcasters cannot be included for the purpose of charging service tax under the category of advertising agency from the clients.
Customs Rate of Exchange of Foreign Currency Conversion wef 20.06.2018 as notified by CBIC vide Notification No.54/2018-Customs (N.T.) Dated the 19th June, 2018
M/s. Modern Traders Vs. State Of U P And 2 Others (Allahabad High Court) The High Court Held that As e-way bill was produced on the same day of the interception of goods along with documents indicating payment of IGST but before seizure order is passed, no justification for passing orders of seizure of goods/vehicle […]
Analysis of Notification No.27/2018-Central Tax dated 13.06.2018 issued by CBIC a. The said notification is issued in exercise of powers conferred by Section 67(8) of CGST Act, 2017. b. Notifies categories of goods which shall, as soon as may be after its seizure under section 67(2) of the CGST Act, be disposed of by the […]
Second proviso added to Rule 37(1) of CGST Rules Rule 37(1) requires reversal of ITC where value of supply is not paid within the stipulated period. First proviso deems value to be paid where supplies are made without consideration in terms of Schedule I Second proviso now added also deems value to be paid in cases covered by Section 15(2)(b) i.e. any amount which the supplier is liable to pay in relation to supply which has been incurred by the recipient
ACCEPT cash of Rs. 2,00,000 or more in aggregate from a single person in a day or for one or more transactions relating to one event or occasion RECEIVE OR REPAY Rs. 20,000 or more in cash for transfer of Immovable Property PAY more than MAO in cash relating to expenditure of business/profession
After Budget 2018 LTCG TAX has raised a lot of question in the minds of an equity investor, an Existing investor who has been able to invest in equities for a long time is still not aware of the actual calculations in LTCG TAX on their investments. Investor assuming that they will have to pay 10% tax on the actual capital gain on sale of stocks or equity mutual funds.
Article explains Meaning and Nature of Debentures and Preference shares . It further explains Status of Debenture / Preference share Holders, Obligation to Company of Debenture / Preference share Holders and further explains Share of Profits, Tax Benefit, Cheaper source of Finance, Effect on Authorized capital and Blockage of funds in increasing authorized capital. S.No Point of Difference Debentures […]
Income Tax Forms for e-filling and Due Dates for FY 2017-18 (AY 2018-19) There are the different category of taxpayer viz. Individual, HUF, Firm, LLP, Company, Trust and AOP/BOI. Due Date is different according to audit or non-audit case of such categories as defined in section 139(1) Last Date of Filing Income Tax Return for […]
