Order u/s 120 (1) of the Income Tax Act, 1961 – Exercising of powers and performing of functions by the officers in the grade of JCITs – reg. F. No. 187/01/2019-ITA-1 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ITA-I Division North Block, New Delhi, Dated the 18 January, […]
Objective As per Foreign Trade Policy of India 2015-2020, Service Providers of Notified Services, located in India, shall be rewarded under SEIS, subject to conditions as may be notified. Objective of Service Exports from India Scheme (SEIS) is to encourage and maximize export of notified Services from India. Eligibility: Para 3.08 of FTP (a) Service […]
The One Person Company (OPC) is a newly incorporated type of company and was introduced in the Companies Act, 2013 to support entrepreneurs who on their own are capable of starting a venture by allowing them to create a single person economic entity. There can be only one, natural person resident of India who can […]
ORIGIN AND NEED OF LEI The story of LEI Code starts 40 years ago from the BARCODE REVOLUTION in 1974, when Wrigley’s Chewing Gum packet with a BARCODE swiped under an electronic reader in a Super Market. This was the First time that any machine had “read” any item with a standardised 11 digit bar code […]
In recent times, loan waiver to farmers has become common agenda in manifesto of political parties. This has again gained the light of the day ahead of 2019 general elections. In this article let us analyse whether loan waiver can become a brahma asthra to address all problems faced by the farmers in India or it is only a tool for political mileage to political parties.
The Competition Commission of India (‘CCI’) passed a Final Order imposing penalty on Panasonic Energy India Co. Limited (‘Panasonic’) and Godrej and Boyce Manufacturing Co. Limited (‘Godrej’) for colluding to fix prices of zinc-carbon dry cell batteries in India.
Meaning and Necessity of Advance Ruling under GST: An advance ruling may be defined as an determination of certain matters and question as specified by the law , regarding interpretation of the law specifically in those cases where there is an ambiguity in the law itself and assessee wishes to avoid any type of litigation […]
The annual income tax audit for most of the taxpayers has just came to end and as we are heading towards the end of calendar year 2018, now it’s time for annual filing and audit under GST law. GST Council in its 31st meeting held on 22nd December 2018 has extended the due date for filing of […]
CA Manoj P Gupta Query : A Company is setting up its Plant in Pithampur. The Construction of factory building is going on. The Input Tax Credit of Input & Input Services used in the construction of building is not available in view of the provisions of the block credit as provided in the Sec 17(5) of […]
Following are few illustrative areas which may trigger suspicious business / trade practices in GST regime and raise alert at the revenue authority’s end: (1) Substantial carry forward of input tax credit on closing stock as on 30.06.2017 (GST applicable w.e.f. 1.7.2017) .
