Tax provisions on Indirect share transfers applies not only to transfer of shares but also to other corporate events such as buy-back, capital reduction, redemption, dividend in kind, etc. by foreign entities.
Part A: While filing Form GSTR-9C on GST Portal, for issues related to using DSC, following is brought to your notice: General issues related to DSC : 1. It may be noted that only PAN based Class 2 or Class 3 DSC can be used on GST Portal by taxpayers. 2. In case you encounter […]
GST is a tax payable on ad-valorem basis i.e percentage of value of the supply of goods or services. Section 15 of the CGST Act and Determination of Value of Supply, CGST Rules, 2017 contain provisions related to valuation of supply of goods or services made in different circumstances and to different persons: 1. Value of supply of goods or services where the […]
Discover everything you need to know about income tax e-refunds. Learn how to claim your tax refund and understand the process.
Hello friends greetings for the day in the current article we will discuss about generation and other procedural requirement for Unique document identification number in case of Tax audit or GST Audit conducted by a CA. It has been made mandatory for all tax audit reports and GST Audit reports with effect from 1st April […]
Section 17(5)(d) of CGST Act, 2017 cannot be construed in a narrow sense as to disallow credit of Input goods or services used for construction / Development of immovable property (Shopping Mall in this case) against GST payable on rent received from tenants
I am amply sure in my mind that nobody wants to be on the wrong side of the law & be in trouble. However, for compliance, it is essential that the users should be able to understand the law. However, the truth is that neither the lawmakers nor the implementers are sure of what the […]
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DCIT Vs M/s. Info Edge India Ltd. (ITAT Delhi) From the order of ld. CIT(A), it is clear that the ld. CIT(A) has relied on various decisions and has per the decisions relied by the ld. CIT(A), the ESOP has been treated as Revenue expenditure. The Revenue did not bring any contrary decision against the […]
Key Features of New Returns as discussed in the GST Council’s 27th, 28th and 31st Meetings are as under: A. Monthly GST return: – All taxpayers (having previous year aggregate turnover exceeding 5 crore ) excluding small taxpayers and a few exceptions like lSD etc. shall file one monthly return. – Taxpayers opting for monthly […]
