Bicholim Municipal Council, Bicholim, Goa seeking an Advance Ruling in respect of the following question Whether GST payable on collection of Sopo or not.
Input Tax Credit is one of the Key Features of the GST. Input Tax Credit is available on each supply made under GST subject to conditions prescribed. It is a very important topic for the registered person to understand how he can claim input tax credit, when he can claim, which he cannot claim etc.. […]
Master Circular – Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM)- DAY-NRLM is the flagship program of Govt. of India for promoting poverty reduction through building strong institutions of the poor, particularly women, and enabling these institutions to access a range of financial services and livelihood services.
Transfer Pricing: Suggested Operating Profit Margins for IT and ITeS Sector having Turnover between Rs. 50 lakhs to Rs. 50 crores This is high time for the entities which have to comply with the provisions of Transfer Pricing (TP) under Income-tax Act, 1961 (the Act) i.e. only 5 days left for filing of the various […]
In view of the ratio laid down by the Hon’ble Supreme Court in the judgment supra, the interest on the delayed refund becomes part of the principle amount and the delayed interest includes the interest for not refunding the principle amount
The GST Council in its 27th meeting held on 4th May, 2018 resolved that GSTN will be converted into a 100% Government-owned entity by transferring 51% equity shares held by the Non-Government Institutions to the Centre and States equally.
The main components of Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 are dispute resolution and amnesty. The number of applications received from taxpayers, including small taxpayers, and disputes resolved as on 18.11.2019 are as under:
Union Government is aware that MSMEs are facing challenges in getting due payments on time from large corporations. In order to ensure timely payments and to prevent their accounts from being treated as Non-Performing Assets (NPAs), Government has taken following steps:
Clause 4 of Taxation Laws (Amendment) Bill, 2019 seeks to insert new sections 115BAA and 115BAB in the Income tax Act relating to tax on income of certain domestic companies and tax on income of new manufacturing domestic companies.
GST has introduced quite a few concepts which are new or unheard by Indian taxpayer. Few are levy of tax on stock transfer of goods, taxation of gifts distributed to employees etc. In terms of Section 7 read with schedule I to CGST Act 2017, there are specified activities which would be subject to GST […]
