"13 November 2018" Archive - Page 3

GST on composite supply with exempt principal supply

In re Columbia Asia Hospitals Private Limited (GST AAR Karnataka)

In re Columbia Asia Hospitals Private Limited (GST AAR Karnataka) (a) Whether two or more supplies of goods or services which are naturally bundled in which principal supply is exempt and others are taxable, can be treated as composite supply and if yes, principal supply being exempt supply, can the said composite supply be treated [&hell...

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Pigeon Feeding – Legal, Financial & Health Modalities

01. PIGEONS, were our original messengers and were deployed as Postman, for Strategic purposes, in the bygone days. Even today, some highly specialized eccentric people & some governments do strategically indulge in using Pigeons, as their clandestine messengers /postman. a) Pigeons are often found in pairs during the breeding season,...

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Midnight knock of Demonetisation

It was just a week after the announcement of Notebandi [ its aftershocks still lingering in Indian Economy] I met Herambha Shastri . All of us may have good, bad or worst experience of Notebandi depending upon your stock of 500 and 1000 notes [out of 86% of total volume in the economy] on or after the fateful night 12.00 am of 8th Nove...

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Comprehensive note on major provisions of Dividend

Introduction   Dividend in ordinary parlance is the portion of the profits of a Company which is distributed among its shareholders. Thus for a shareholder, dividend is the return on his investment in the Company. Dividend is declared on the face value of the shares. When a company earns profits, it can deal with the same […]...

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Clarification on Taxability of natural gas under MVAT

Trade Circular No. 32 T of 2018 (13/11/2018)

Sale of natural gas is liable to VAT @ 13.5% [Sch. Entry B-15]. However, with effect from 24th August 2017, natural gas sold to a manufacturer, certified by the Joint Commissioner of Sales Tax became liable to a lower rate of 3%, by virtue of a newly inserted schedule entry B-16 [Notfn. at reference 1], Benefit of this lower rate of 3% is...

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Impact of Companies Amendment Ordinance 2018

Article discusses Impact of Companies Amendment Ordinance, 2018 which are Effective from November 2nd 2018. Vide Companies Amendment Ordinance, 2018, 31 amendments were made in Companies Act, 2013 which are discussed in the article. Companies Amendment Ordinance, 2018  Re-categorise compoundable offences to in house adjudication framewo...

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Dangerous Overdose of Drug of Social Media Sites/Apps

“Rahul”, “Rahul”, “RAHUL…………………..””RAHUL DO YOU HEAR ME OR NOT?” . “Smriti”, “Smriti””SMRITI…………………” “I AM TELLING YOU SMRITI, I AM GONNA THROW THAT PHONE OF YOUR’S IN THE DUSTBIN” “PHONE……..PHONE……PHONE………..DIN BHAAR PHONE MAIN(DAY AND NIGHT ON PHONE)” Wel...

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6 Changes in e-way bill generation with effect from 16.11.2018

CBIC has Proposed 6 improvements in e-way bill generation with effect from 16.11.2018 which includes Checking of duplicate generation of e-way bills based on same invoice number, CKD/SKD/Lots for movement of Export/Import consignment, Shipping address in case of export supply type, Dispatching address in case of import supply type,  ‘B...

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E-Way Bill System New FAQs on Practical issues

Article explains What a taxpayer should do if he don’t have ‘Transporter Id’ but want to enter and generate ‘Part-A slip’, When to extend the validity of E Way Bill, What should be done if PIN code is shown as invalid, What to do if the total invoice value does not match with the sum […]...

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NFRA – Adopting Global Best Practices

NFRA (National Financial Reporting Authority) has been notified in terms of Section 132 of the Companies Act, 2013. By reading this concise article, you will get to know about the Global Overseeing System (in America, UK and China) and the powers given in India to NFRA....

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