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Archive: 20 January 2019

Posts in 20 January 2019

Who Should Obtain GST Registration?

January 20, 2019 7125 Views 0 comment Print

Any person or a business entity in India supplying taxable goods or services to persons with an annual aggregate turnover exceeding Rs.20 lakhs is required to obtain registration under Goods and Service Tax (GST). However, In some special category states such as Assam, Manipur, Nagaland, J&K and other, the turnover limit has been reduced to […]

GST not levaible on activities carried out by DISCOMS against recovery of charges from consumers

January 20, 2019 6483 Views 0 comment Print

Torrent Power Ltd. Vs. Union of India (Gujarat High Court) Gujarat High Court quashed the Circular No. 34/8/2018-GST dated 01.03.2018 which proposes  levy of GST on activities carried out by DISCOMS against recovery of charges from consumers under the State Electricity Act i. Application fee for releasing connection of electricity ii. Rental Charges against metering […]

Reflections on Current Policy Issues Facing Indian Economy

January 20, 2019 492 Views 0 comment Print

Indian economy has witnessed an accelerated pace of domestic reforms in recent years. These reforms include, inter alia, the flexible inflation-targeting monetary policy framework, the Insolvency and Bankruptcy Code (IBC), the Goods and Services Tax (GST) and steps for enhancing foreign investments by liberalising the FDI regime and undertaking efforts to provide a conducive business climate.

Details of GST Council Secretariat Officials with Contact No.

January 20, 2019 10089 Views 2 comments Print

We have given below Details of GST Council Secretariat Officials with Name, Designation and Contact No. sitting. We have also  given address of Office of the Goods & Services Tax Council with Phone Number and Email address. Office of the Goods & Services Tax Council Tower-II, 5th Floor, Jeevan Bharti Building, New Delhi -110001 Office PH: […]

Review of Input tax credit under GST

January 20, 2019 7755 Views 1 comment Print

The GST law aims at providing seamless Input tax credit to the registered persons. While the missed ITC could be a loss to an entity, an undue or excess claim of ITC could put an entity to a trap of interest, penalty & litigation. It goes without saying that there could be several errors of […]

Employees’ Provident Funds (EPF) And Miscellaneous Provisions Act, 1952 – An Overview

January 20, 2019 50799 Views 8 comments Print

Background: PF is the retirement saving scheme available to all the salaried employees, is backed by the government on which fixed interest is paid. The employee provident fund is administered by the Employees Provident Fund Organization (EPFO), a statutory body developed by the government of India under the Ministry of Labor and Employment. It is formed to administer the mandatory […]

GST Regime: The Contemporary Issues Crying for Immediate Attention including need of Robust Digital Platform

January 20, 2019 948 Views 0 comment Print

India is a country with huge potential. It is an emerging business & economy, powered adequately by the political will of the present leadership which placed the new Indirect Tax Regime of ‘Goods & Services Tax’ (GST).

Buying and selling of share in short span of time doesn’t changed character of capital gain as business income

January 20, 2019 1188 Views 2 comments Print

Pr. CIT Vs M/s Viksit Engineering Ltd. (Bombay High Court) Buying and selling of share in short span of time doesn’t changed character of capital gain as business income High Court of Bombay in case of Principal Commissioner of Income-tax-II v/s Viksit Engineering Ltd vide its ITA Appeal No:485 dated 26th November 2016 has held […]

Recent changes in timeline for Registration of Charges

January 20, 2019 6222 Views 1 comment Print

Impact of The Companies (Amendment) Ordinance, 2019 On Registration Of Charges On November 2, 2018, the Ministry of Corporate affairs promulgated an ordinance (the Ordinance) inter alia amending certain provisions of the Companies Act, 2013 (the Act). One of the amendments is for the purpose of reducing the extended timelines for filing a charge created by a company as […]

Highlights of 31st GST Council meeting

January 20, 2019 3021 Views 3 comments Print

1. GST 2.0 to be implemented on trial basis in April 2019 New return filing system to be started on a trial basis from April 1, 2019, and will be to be implemented by July 1, 2019 2. E-way bills rules made strict Taxpayers cannot generate e-way bill if they do not file GST returns for two consecutive tax […]

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