The issue under consideration is whether surcharge and education cess should be levied only in the cases where the non-resident vendors are residents of countries with which the DTAA allows withholding rate of more than 11.33%?
What is National Pension Scheme (NPS)? National Pension Scheme (NPS) was initially launched in January 2004 for government employees but then in 2009, it was made available to every citizen of India whether resident or non-resident aged between 18-60 years. NPS allows you to contribute regularly in a pension account during their working life. On […]
Treatment of wrong kind of tax payment viz, CGST and SGST /UTGST In lieu of IGST and vice versa. Introduction: ♣ It is possible to come across situations where a registered person has paid the wrong kind of tax viz, CGST and SGST / UTGST in lieu of IGST and vice versa. Therefore, such incorrect […]
Where the assessee objects to the adoption of stamp duty valuation as deemed sale consideration during the assessment proceedings, the Assessing Officer is duty bound to make a reference to the DVO.
Form 16 becomes quite a topic of discussion in all office campuses during the tax filing season. Though we know that Form 16 is for tax filing, many of us still find it hard to understand the components of Form 16 while filing the return. Understanding Form 16 is the key to better tax planning. […]
Mr. Ravneet Gill has recently joined Yes Bank on 1st March, 2019 as MD and CEO for a tenure of 3 years. However, it was rumored that the things are not going on the right track for Yes Bank, apart from already existing regulatory and corporate governance issue, the matter got even more complicated when […]
National Academy of Customs, Indirect Taxes and Narcotics (NACIN) has conducted examination for confirmation of enrollment of Goods and Services Tax Practitioners (GSTPs) in terms of second proviso to sub-rule (3) of rule 83 of the Central Goods and Services Tax Rules, 2017. The examination was held on 14.06.2019 at twenty centers across India. The […]
Gurdeep Singh Sachar Vs Union of India (Bombay High Court) In the instant case, admittedly, there is no dispute that the amounts pooled in the escrow account is an ‘actionable claim’, as the same is to be distributed amongst the winning participating members as per the outcome of a game. But, as held hereinabove since […]
Some newspapers have today highlighted a perceived set-back to the automated process of refunds for exporters under GST on account of the introduction of manual checks to curb large scale frauds in IGST refunds. These news items regrettably create a misleading impression that genuine exporters would suffer on account of the newly introduced verification process.
Requesting extension of filing of Annual Forms GSTR-9, GSTR-9A and GSTR-9C for a reasonable period of time to give justice to the correctness of returns considering the need for reconciliations state-wise.
