It cannot be concluded on the basis that the assessee had not filed its income tax returns in earlier years that the activities of the assessee were not genuine. There was no dispute that the objects of the assessee-society were not charitable or the activities of assessee were not being carried on in accordance with the stated objectives of imparting education for which it was established. Mere generation of surplus from year to year could not be basis to hold that assessee existed for the purpose of making profit. Therefore, denial of registration was not justified.
Notification No. 9/2018-Customs (N.T./CAA/DRI) – In pursuance of notification No. 60/2015-Customs (N.T.), published vide number G.S.R. 453(E), dated 4th June 2015 in Gazette of India, Extra-ordinary, Part-II, section 3, sub-section (i), and as amended by notification No. 133/2015-Customs (N.T.), published vide number G.S.R. 916(E) dated 30th November 2015 in Gazette of India, Extra-ordinary, Part-II, section 3, sub-section (i), issued by the Government of India, Ministry of Finance, Department of Revenue, under clause (a) of section 152 of the Customs Act, 1962 (52 of 1962),
The Applicant sought clarification as to whether MCS qualify as composite supply in GST and if not, whether supply of support services will fall under ambit of intermediary services.
The objective of GST composition scheme was to enable the traders to do business in easy way. But composition scheme is beneficial for the traders who are dealing in products covered by higher GST slab rates. On the other hand, composition scheme is not beneficial for the traders who are dealing in products covered by GST slab rate of 5%.
Draft proposals for amending GST Laws is published on (relevant web page) for comments of the stakeholders till 15.07.2018. In CGST Act, 2017 Amendments are proposed in Definitions, Provisions related to Supply, Levy and Collection, Composition Scheme, Time and Value of Supply,Input Tax Credit, Registration, Tax Invoice, Credit and Debit Notes, Returns, GST Practitioner, Payment […]
This article is in regards to the newly introduced reporting structure (Single Master Form herein referred thereafter SMF) by Reserve Bank of India (herein referred thereafter RBI) for the reporting of all Foreign Investments so received by Indian Entities.
It is wrong to term intermediary services as an Intra-State supply of services in case where the location of supplier or location of recipient is outside India. This is for the reason that Section 12 is applicable only to determine place of supply where the location of supplier and location of recipient is in India and not covers the cases where the location of supplier or location of recipient is outside India.
MCA introduced the KYC norms for all directors of all Companies. To implement this, MCA has amended the Companies (Appointment and Qualification of Directors) Rules, 2014 effective from 10th July, 2018. In this write up we discussed about the various practical aspects of the Companies (Appointment and Qualification of Directors) fourth amendment Rules, 20181
UDIN: An Advanced Solution for Document Verification- Unique Document Identification Number (UDIN) is a unique number which is to be generated for every document certified /attested by practicing Chartered Accountants and will be registered with UDIN Portal at https://udinical.org (with effect from 1st July, 2018). UDIN aims to address the concern of documents/certificates issued by […]
In case the Registrar issues an examination report, the reply of the same has to be filed within one month from the date of receipt of the report. If the applicant fails to respond to the communication, the Registrar may treat the application as abandoned.
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