"25 September 2019" Archive

Aaykar Seva Kendra

Aaykar Seva Kendra (ASK) is A multi-faceted mechanism for achieving excellence in public service delivery reflecting the Service Quality policy of the Income Tax Department....

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Posted Under: Income Tax |

No approval taken from Ministry of law in NCLT member appointment vacancy advertisement

A-44/50/2019-Ad.IV 25/09/2019

A-44/50/2019-Ad.IV Government of India Ministry of Corporate Affairs 5′ Floor, ‘A’ Wing, Shastri Bhawan Dr. R. P. Road, New Delhi-110001 Date: 25 Sept, 2019 To. Shri Nipun Singhvi, 111-112 University Plaza, Above Chocolate Room, Vinjay Cross Roads, Ahmedabad-380009 Subject- Information sought under the Right to Informati...

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Taxation Laws (Amendment) Ordinance, 2019 – Analysis

The, TAXATION LAWS (AMENDMENT) ORDINANCE, 2019 (hereinafter 'Ordinance'), is an ordinance to further amend the Income-tax Act, 1961 and the Finance (No.2) Act, 2019. Since the parliament is not in session and the President of India is satisfied that circumstances exist which render it necessary for him to take immediate action, this Ordin...

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Posted Under: Income Tax |

Allotment of Securities by Company- Relevant Provisions

Q.1 WHAT ARE THE PROVISIONS OF COMPANIES ACT RELATED TO ALLOTMENT OF SECURITIES? (1) No allotment of any securities of a company offered to the public for subscription shall be made unless the amount stated in the prospectus as the minimum amount has been subscribed and the sums payable on application for the amount so […]...

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Posted Under: Income Tax |

TDS – How to Meet your obligations (Deductor)

WHAT IS TDS/TCS? In case of certain prescribed payments (e. g. Interest, commission, brokerage, rent, etc.) the person making payment is required to deduct tax at source (TDS) at prescribe rate. Payer is known as deductor and the payee, who receives the net payment is called the deductee. TCS is Tax Collected at Source by […]...

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Posted Under: Income Tax |

GST under RCM applicable on remuneration to Directors

In re M/s Alcon Consulting Engineers (India) Pvt. Ltd. (GST AAR Karnataka)

In re M/s Alcon Consulting Engineers (India) Pvt. Ltd. (GST AAR Karnataka) a) Whether the expenses incurred by the Staff members on behalf of the Company exceeding Rs.5000-00 a day and then reimbursed periodically are liable to tax  The amounts paid to the employees of the applicant company as reimbursement of expenses incurred by them [...

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No GST on amount recovered from employees for parental insurance premium

In re ION Trading India Private Limited (GST AAR Uttar Pradesh)

In re ION Trading India Private Limited (GST AAR Uttar Pradesh) I. Whether amount recovered from the employees towards parental insurance premium payable to the insurance company would be deemed as “Supply of service” by the applicant to its employees? Ans: Answered in negative. II. If the first question is answered in affirma...

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CESTAT on Classification of articles of paper and printing industry

Nagpur Business Forms Pvt. Ltd. Vs Commissioner of Central Excise (CESTAT Mumbai)

Appellants are engaged in the manufacture of various Computer Stationeries, LIC Forms, Bank Statement Forms as per the requirement of LIC, Banks & Govt department as per the requirements of LIC, Bank and Government department, falling under chapter sub heading 482040 of Central Excise Tariff Act, 1985 and paying duty accordingly....

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18% GST Payable on charges for additional facilities provided with accommodation services

In re Sri DMS Hospitality Private Limited (GST AAR Karnataka)

The applicant is also providing additional facilities like Dining Tables/ Chairs, Partitions, Water purifiers, Bunk beds with lockers, TV with DTH Connection and the entire investment made is recovered with 12% interest per annum at the rate of Rs.1,22,893/- per month....

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Reimbursement of stipend paid to trainees not attract GST

In re Cadmaxx Solutions Education Trust (GST AAR Karnataka)

Under this scheme the resource provided by trust, these called as 'On Job Trainee'. It will be paid monthly stipend amount determined by the client and Trust. The Trust is expected to collect stipend amount from the client and transfer the entire amount to the trainee – Does this stipend reimbursement attracts GST or not?...

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