"22 November 2018" Archive

Sunset Review of anti-dumping investigation on Methylene Chloride import

F. No. 7/15/2018-DGAD (22/11/2018)

Sunset Review of anti-dumping investigation on the imports of “Methylene Chloride” originating in or exported from the European Union and the United States....

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GST payable on services provided by Esprit India to its associate concern in Hong Kong

In re M/s Esprit India Private Limited (GST AAAR Haryana)

In re M/s Esprit India Private Limited (GST AAAR Haryana) Taxability of services provided by Esprit India to Its associate concern in Hong Kong EDCFE under GST regime.  AAAR upheld AAR order and held that The services provided by Esprit India to its associate concern in Hong Kong EDCFE are taxable supplies Also Read AAR […]...

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NFRA Rules 2018 notified

Five years after the Companies Act, 2013 provided for the creation of a National Financial Reporting Authority (NFRA), Government has taken steps to implement NFRA....

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Posted Under: Custom Duty |

GST on fee paid for grant of license sale of liquor for human consumption; HC dismisses petition

Parbhjit Singh Sarna Vs Commissioner, Central Goods & Services Tax (Punjab and Haryana High Court)

Learned counsel for the respondent fairly submitted that he has received instructions to the State that in 26th meeting of GST Council held on 10-3-2018 it has been decided that no GST/Service Tax is leviable on the fee paid for grant of license sale of liquor for human consumption...

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Post Merger Adaptation – A significant element to successful deal

Mergers and acquisitions are used for improving the competitiveness of companies and gaining an advantage over other firms by gaining greater market share, broadening the portfolio to reduce business risk, entering new markets and geographic spread, and capitalizing on economies of scale....

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Posted Under: Custom Duty |

Registration Provisions and Procedures under UAE VAT

Being registered under the VAT law means that a business is acknowledged by the government, as a supplier of Goods and Services and is authorized to collect VAT from customers and remit the same to the government. Only VAT registered businesses will be allowed to do the following: Charge VAT on taxable supply of goods and […]...

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Posted Under: Custom Duty |

Significance of GSTR-1 & GSTR-2 : Filing of GSTR-9, GSTR-9A, GSTR-9B, GSTR-9C

For the Financial Year 2017-18, due date for filing Gstr-9 – Annual Return, is 31st December 2018 according to Goods and Services Act, 2017. GSTR 9 form is an annual return to be filed once in a year by the registered taxpayers under GST including those registered under composition levy scheme. It consists of details regarding the suppl...

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In absence of PE in India No tax on money received by IBM Philippines in the course of their business

DCIT, International Taxation Vs IBM India Pvt. Ltd (ITAT Bangalore)

IBM India Pvt. Ltd case: IBM Philippines received the monies in the course of their business and did not have PE in India and therefore the receipt in question could not be brought to tax...

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Taxation of Gratuity

People employed in organised sector and with governments receive gratuity at the time of their retirement/death. Gratuity also becomes payable on termination of services. The gratuity becomes payable only if one has service for continuous five years with the same employer. Though many of your might have received gratuity but most of you ...

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Templates of Rulings received from other jurisdictions under BEPS Action 5 -Reg.

Instruction No. 6/2018 (22/11/2018)

India being a G20 Country is committed to implement the minimum standards laid down in the Base Erosion and Profit Shifting (BEPS) Project. One of the minimum standards that every participating jurisdiction has to achieve is to ensure a Transparency Framework for spontaneous exchange of rulings under BEPS Action 5....

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