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Archive: 16 November 2019

Posts in 16 November 2019

Income Tax Relief- Regularization of unauthorized colonies in Delhi

November 16, 2019 1419 Views 0 comment Print

Post Union cabinet approved regularization of 1728 unauthorized colonies in National Capital Territory of Delhi with levy of 0.5% stamp duty (against Stamp duty and transfer duty @ 4% if the vendee is a woman and @ 6% if the vendee is a man), notification 96/2019 dated 11.11.19 provided relief under Income Tax. To curb cash dealings in […]

A snapshot on Essar’s Judgement by SC -Decoded

November 16, 2019 1908 Views 0 comment Print

Supreme Court allowed appeal filed by Committee of Creditors of Essar Steel Indian and had set aside the Order of National Company Law Appellate Tribunal, the Hon’ble Supreme Court made several important findings and rulings as under:

Country By Country Reporting

November 16, 2019 32931 Views 0 comment Print

The Finance Act, 2016 introduced provisions relating to Country by Country Report (CbCR) and Master File pursuant to adoption of OECD’s BEPS Action Plan-13 in India. On 31st October 2017, CBDT released the Final Rules with respect to maintenance and furnishing of Master File and CbCR. Summary of Final Forms and Rules for Master-File applicable […]

Supply to Director of Education (S & HS) qualifies for GST exemption

November 16, 2019 2097 Views 0 comment Print

In re IL & FS Education and Technology Services Ltd. (GST AAAR Maharashtra) The Appellate Authority for Advance Ruling set aside the ruling given by the Advance Ruling Authority by holding that  the supply of goods and services by the Appellant to the Director of Education (S & HS) qualifies for exemption in term of […]

Study Techniques for Company Law

November 16, 2019 14217 Views 0 comment Print

1. Use Keywords: Keywords are those words that are important in the provisions of law. These words will help us to remember provisions and also one can make notes from it in exam. e.g. Section 152(1) “where there is no provision made in the articles of a company for the appointment of the first director, […]

Salaries not subject to GST: Unconfirmed CBIC press release on Social Media

November 16, 2019 5307 Views 2 comments Print

Central Board of Indirect Taxes & Customs (CBIC) today clarified that salaries are not subject to GST and no GST has been demanded on salaries paid to CEOs or employees. CBIC said that the media report in this regard alleging that tax authorities want to impose GST on salaries paid to employees is factually incorrect and misrepresents tax authorities.

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