As per section 49(5) of the CGST Act, the IGST credit was allowed to be used for payment of CGST and SGST output liability once the input credit on account of input CGST and SGST credit was fully utilised. This method allowed taxpayers to utilise the credits to its fullest and cash payouts were required […]
E-commerce activities are allowed to have a 100% FDI through automatic route. Subject to provisions of FDI Policy, e-commerce entities would engage only in Business to Business (B2B) e-commerce and not in Business to Consumer (B2C) e-commerce.
8 things to be done under GST before March 31, 2019 includes Last chance to avail any pending ITC of FY 2017-18, Amendments / Rectification pertaining to details furnished in GSTR-1 and GSTR-3B of FY 2017-18, Application of Letter of Undertaking (LUT) for export of goods or services without payment of IGST for the FY […]
Article explains what is CIBIL Score, What are the things which impacts CIBIL Score, How much Score holds well and What to do to improve CIBIL score. Most of the time we hear about CIBIL score. Many of the loan seekers face this issue while applying loan, that there CIBIL score is bad. I am […]
The seven decade history of the State of Jammu & Kashmir confronts changing India with several questions. Was the Nehruvian course, which the State had embarked, a historical blunder or was it the correct course to follow? Most Indians today believe that it is the former. Does our policy today have to be guided by that erroneous vision or an out of box thinking which is in consonance with ground reality?
Deduction of interest u/s 24B allowable when loan borrowed to repay previous loan taken for the construction of residential unit.
Return of the galvanised goods to the Applicant satisfies the condition of receiving back the inputs in accordance with section 143(1 )(a) of the GST Act. As the goods like furnace oil, zinc etc – consumed in the process of galvanising – are inseparable from the galvanised goods, they should not be treated as supply in terms of section 143(3) of the GST Act, provided they have been entirely used up in the process of galvanising.
In re The Bengal Rowing Club (AAR West Bangal) Supply of food, by way of or as part of any service or in any other manner whatsoever, from the Applicant’s restaurant is classifiable under SAC 9963 and taxable under Sl No. 7(i) or 7(iii) of the Notification No. 11/2017-CT (Rate) dated 28/06/2017 (corresponding State Notification No. […]
If you are a founder, manager of an NGO and wants to increase flow of donations into your NGO, then this article is for you. It casts a light upon why an NGO must go for registration under Section 12A and 80G of the Income Tax Act. There are certain benefits available for the NGOs […]
The supply of goods or services for ‘setting up of network’ would qualify as a Composite supply of works contract as defined in clause (119) of section 2 of the Central Goods and Services Tax Act, 2017.
