Planet M Division transferred by the assessee as on a going concern basis where no cost of acquisition is possible to be attributed individual assets in that undertaking and therefore the charging of provision of section 45 are not attracted. It was furthere held that the provisions of section 50B were not applicable to this case as it is a case of slump exchange and not a slump sale.
Article explains GST implications on Free Samples, Extra Units / Quantity of the Same Product, Providing Free Gifts to distributors, Supply under warranty, Cashback coupons a) Cashback coupons in product packaging b) Cashback coupons provided by Person other than supplier c) Gift Vouchers valid on subsequent purchase and on Free Articles. Nowadays, businesses use various […]
The new regime of Companies Act 2013 has changed the requirement for appointment of the auditor in Companies. There has been a paradigm shift in the provisions relating to appointment of Statutory Auditor. This article broadly covers the provisional requirement for appointment of the auditor under Companies Act, 2013. The responsibility of evaluating the validity and reliability […]
Article discusses Salient Features of Real Estate (Regulation and Development) Act, 2016, Registration under Real Estate (Regulation and Development) Act, 2016, Exceptions for registration, Process of Registration under RERA, Registration of Real Estate Agent, Functions, Duties and Obligations of Promoter, Rights of Allottee under RERA 2016, Penalties under Real Estate (Regulation and Development) Act, 2016, […]
Revisional Authority has been defined under section 2 (99) of the Central Goods and Service Tax Act, 2017 and the same means an authority appointed or authorized for revision of decision or orders as referred to in section 108. The section 108 prescribes the powers of the revisional authority. As per the said section – […]
