"28 January 2020" Archive

Event Management Service used for promoting brand value is Input Service

Moneygram India P. Ltd. Vs Assistant Commissioner (CESTAT Mumbai)

Moneygram India P. Ltd. Vs Assistant Commissioner (CESTAT Mumbai) Issue under consideration is that whether the Appellants are entitled to avail CENVAT Credit on the input service viz. event management service? The learned Advocate for the Appellant submits that events are organized by the Appellant company for promoting their brand value...

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Section 271AA Penalty for failure to maintain Transfer Pricing documents

Section 271AA – Penalty for failure to keep / maintain information and documents in respect of an international or specified domestic transaction Provisions of section 92D of the Income Tax Act, 1961 mandates the following categories of persons to maintain and keep specified information and documents – The person who has entered into ...

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Posted Under: Service Tax |

Extend date of filing of Form GSTR 9, GSTR 9A and GSTR 9C

Sales Tax Bar Association has made a Representation requesting for extension of the date of filing of Forms GSTR 9, Form GSTR 9A and Form GSTR 9C by atleast three months i.e. from 31.01.2020 to 30.04.2020. Full text of the representation is as follows:- Sales Tax Bar Association IInd Floor, Department of Trade & Taxes, […]...

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Posted Under: Service Tax | ,

How to file an insurance claim if your bike is stolen

When it comes to buying bike insurance, you have two choices – you can either purchase a third-party liability cover or a comprehensive insurance cover. While the former is a low-cost insurance policy, it only covers you against damages and injuries sustained by a third party in an accident. Third party liability insurance is compulsory...

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Posted Under: Service Tax |

Report of SEBI Working Group on Related Party Transactions

A related party transaction is a transfer of resources, services or obligations between two parties, irrespective of whether a price is charged or not. With respect to a corporate entity, related parties would broadly consist of its executives, directors or promoters, who are responsible for making decisions for the corporate entity....

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Posted Under: Service Tax |

Pre-Budget Expectations from Union Budget 2020

As the countdown for the Union Budget has begun, the atmosphere among India Inc and general public is fraught with anxiety. Apprehensions about the declining growth rate, stagnating domestic demand, tumbling private investment, jobs crisis and rising inflation have set the tone for the present economic discourse. The successive economic d...

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Posted Under: Service Tax |

ETMONEY unveils unique tax solution to help save Rs. 78K

As Indians gear up for the annual tax savings season, ETMONEY, India’s largest online wealth management app with 7.5 Mn users, has launched a first-of-its-kind tax-saving solution that empowers Indians to maximize their tax-saving & save up to Rs.78,000 in taxes, right from their mobile phone within minutes....

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Posted Under: Service Tax |

File Your TDS Statement by 31st January 2020

As we all are aware that the due date of TDS return filing is coming closer for 3rd Quarter i.e. 31st January, 2020 for FY 2019-20. Hence this article is kind of reminder for all taxpayers to be compliant this time towards filing of return within due date to avoid unnecessary interest and late fees. […]...

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Posted Under: Service Tax |

Govt puts in place measures to protect Commercial decision making by Banks

The Finance Minister has repeatedly assured Bankers that adequate measures would be taken to protect honest commercial decisions taken by them and distinction would be made between genuine commercial failures and culpability....

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Posted Under: Service Tax |

Section 143(3) of Income Tax Act – Scrutiny Assessment –FAQ’s

Dear Readers, now these days Income Tax Department is very active in tax collection matters to achieve their targeted collection. Income Tax law mainly permits self-Assessment by assesse, related to their Income Tax Liability, however, from huge database of assesses limited numbers of returns are selected for scrutiny assessment. Now, Inc...

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Posted Under: Service Tax |

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