Madhya Pradesh High Court has rejected the plea that proceedings under Section 70 of the CGST Act, 2017, relating to summons, can only be taken recourse to after decision under Section 73, relating to demand of tax. The High Court in this regard declined to quash the notice for personal hearing.
Supply of Services – Involvement of Employee It is possible that the employees of the HR Department at the Head Office hiring personnel for branches. It is also possible that the employees at the branches carry out liasoning work and procure orders. Goods against such orders are directly dispatched to the customer from the factory. […]
Section 247 of the Companies Act 2013 deals with Valuation by Registered Valuers. Where a valuation is required to be made in respect of any property, stocks, shares, debentures, securities or goodwill or any other assets or net worth of a company or its liabilities under the provision of Companies Act 2013 or Insolvency and Bankruptcy Code 2016, it shall be valued by a registered valuer registered with Insolvency Bankruptcy Board of India (IBBI).
MCA has marked large number of Directors as Disqualified by deactivating their DINs and digital signatures. These measures were taken in respect of those companies which have not filed their financial statement or annual returns with Registrar of Companies as per the provisions of Companies Act. MCA has struck off the name of Companies for […]
Q.1 What is the scope of the term ‘supply’ as defined in the CGST Act, 2017? Ans. As per Section 7(1) of the CGST Act, 2017, Supply includes: Ø All forms of supply of goods or services or both such as sale, transfer, barter, exchange, licence, rental, lease or disposal made or agreed to be […]
Avoid these 16 common mistakes while filling your income tax return (ITR) to prevent penalties and tax notices. File your ITR with utmost care and accuracy.
AIFTP requested Finance Minister to Increase monetary limit for appointment of Company Secretaries from existing Rs. 5 Crore to Rs. 20 Crore at earliest As the limit of Rs 5 Crore Paid up capital was fixed more than 10 years ago i.e. w.e.f. 15-03-2009.
CBDT is of the view that sharing of information with Public Sector Banks (PSBs) in respect of assets held by defaulters of loans, so as to enable recovery of loans from such defaulters, is in public interest and hence, can be furnished. F. No.225/148/2019/ITA.II Government of India Ministry of Finance Department of Revenue Central Board […]
Mr. Mohammad Azid Ramzani Vs Director General of Anti-Profiteering (National Anti-Profiteering Authority) It is revealed that the Central Govt. vide Notification No.41/2017-Central Tax (Rate) dated 14.11.2017 had reduced the rate of GST from 28% to 18% in respect of the tiles with effect from 15.11.2017. the benefit of which was required to be passed on […]
As per the existing provisions an Individual tax payer who is resident under the tax laws is entitled to a rebate of upto Rs. 12,500/- provided his total taxable income does not exceed Rs. 5 lakhs for the year after all the available deductions and exemptions.
