The term Security Service is not defined in the CGST Act, 2017. As per general understanding Security service is a service wherein a person supplies security personnel to another person for a consideration. However, in the old regime of Service Tax, the term Security Agency was defined under section Section 65(94) of Finance Act, 1994; which is reproduced as under:
Learn about the mandatory linkage of PAN with Aadhaar from A.Y. 2019-20. Find out why quoting Aadhaar in your Income Tax Return is now mandatory.
Section 44 of CGST Act mandates every registered person, except the following, to furnish an annual return for every FY electronically in Form GSTR-9 on or before 31 December following the end of Financial Year.
Although Private Limited Company is the most popular form of starting a business, there are various compliances which are required to be followed once your business is incorporated.
Jefferris India Pvt. Ltd. Vs. ACIT (ITAT Mumbai) When there was no willful concealment and mistake involved human error, penalty under section 271(1)(c ) deleted
NRI’s would now have to disclose details of residency in foreign country. Tax Identification numbers allotted to them. With this, through exchange of information Government would keep a track on Evasion. Additional disclosure on assets held abroad. This isnt a welcome move since NRI’s would be reluctant to share the same with GOI.
