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NEW PROVISIONS RELATING TO THE SEPARATE REGISTRATION FOR MULTIPLE PLACES OF BUSINESS WITHIN THE STATE OR UNION TERRITORY Section 25 of the CGST Act, 2017 contains the registration provisions and as per section 25 (2) of the CGST Act, 2017 the person shall be granted a single registration in a State or Union territory. The proviso to […]
Central Government of India has created CERSAI (Central Registry of Securitisation Asset Reconstruction and Security Interest of India) to ensure single KYC across all financial products. It provides an ease to the every financial consumer by submitting one time KYC at the CERSAI portal and escaping from the requirement of giving KYC every time they […]
This DPT 3 form is a multipurpose form which may be in use for i) return of deposits, ii) return of disclosure of money or loan received by a company but not considered as deposit as per rules and iii) one time return for disclosure of details of outstanding money or loan received by a company but not considered as deposit.
As per rule 89(5) of CGST Rules, 2017, net ITC is meant to be the input tax credit availed on the inputs and reduction of amount of ITC lapsed from the ITC to arrive at amount of Net ITC is neither justified nor the intention of law.
In re H.P. Sales India Pvt. Ltd. (GST AAAR Maharashtra) The supplies of the Appellant have been held to be a continuous supply by the Advance ruling authority and while deciding whether the supply is composite or not have done so keeping in mind the continuous nature of the supply. They have stated that each […]
Non Applicability of RCM U/s 9(4) CGST Act, 2017 Until government Notify a class of registered persons and specified categories of goods or services. Lots of question are coming that whether RCM is applicable from 01.02.2019 or not. The answer is that RCM U/s 9(4) of CGST Act is NOT APPLICABLE till Government Notify class […]
Own a home in Dubai? Beware! You are under Income-tax scanner Income Tax (IT) department is scrutinizing many Indians who have purchased properties in Dubai in the last few years under a new initiative. Based on the Intelligence gathered, the IT department’s Intelligence and Criminal Investigation (I&CI) wing has started issuing tax notices to Indian nationals who […]
Article provide Summary / Highlight of Interim Union Budget 2019. RATES OF INCOME-TAX Income – Tax The provisions of section 2 of, and the First Schedule to, the Finance Act, 2018 (13 of 2018. ), shall apply in relation to income-tax for the assessment year (2020-2021) or, as the case may be, the financial year […]
We observe a trend of Joint Development Agreements, commonly known as JDA, in real estate sector, from the year 2000-2001, onwards. JDA is agreement between Landowner and Builder/Developer. In such agreement, Landowner contributes his land and Builder/Developer is assumed to take the responsibility of obtaing various approvals and construction, at his own cost. In JDA, […]
Significant Beneficial Ownership (SBO) MCA on 15th February, 2018, came out with draft of Companies (Beneficial Interest and Significant Beneficial Interest) Rules, 2018 On June 13, 2018, MCA issued the Companies (Beneficial Interest and Significant Beneficial Interest) Rules, 2018 (‘Final Rules’) and enforced section 90 of the Amendment Act On February 08, 2019, MCA issued […]
