The value of supply of lottery shall be deemed to be 100/128 of the face value of ticket or of the price as notified in the Official Gazette by the Organising State, whichever is higher. Organising State has the same meaning as assigned to it in clause (f) of sub-rule (1) of rule 2 of […]...

Officers of Anti-Evasion, Central GST Delhi East Commissionerate have unravelled a major operation of Circular Trading, involving use of fake invoices to claim fraudulent refunds of Input Tax Credit. Shri Asif Khan, Shri Rajeev Chhatwal and Shri Arjun Sharma, operating a total of 17 fake firms, procured invoices without actual supply of g...

Impact on the Residential Status of Seafarer after reduction in number of days in Budget 2020 from 182 days to 120 days for deciding the residential status in India As per existing provision, An individual is said to be resident in India, if he— (a) is in India in that year for a period amounting […]...

Hero Motocorp Ltd. Vs Union of India (Delhi High Court) Budgetary Support Scheme – Plea of Promissory Estoppel not enforceable Facts – Petition filed against the Budgetary Support Scheme. Case of the Petitioner is that the erstwhile area based exemptions got rescinded with the introduction of the GST Regime w.e.f. 1.7.2017. Though...

I am happy to share with you  that we have more than 80000 women CAs and close to 300000 girl students pursuing CA Course. The strength of women in the profession is growing at faster pace which is a positive sign. I wish you all happy Women’s day and my heartiest congratulations on this great occasion....

1. Manufacturer-exporters before the advent of GST were permitted to procure duty free inputs under the scheme of Advance Authorization as contained under Chapter 4 of the Foreign Trade Policy. Briefly the manufacturer-exporters under the Advance Authorization Scheme were granted upfront exemption from the payment of duties on procurement...

Govt notifies Application for settlement of arrear tax, interest, late fee or penalty in dispute under section 5 of the West Bengal Sales Tax (Settlement of Dispute) Act, 1999....

Since there was absolutely no material that Revenue had failed in strictly adhering the limitation period under Regulation 20(7) of CBLR, 2013 and it was not the Revenue, who kept the file, without passing the final order under Regulation 20(7) within the 90 days limitation period and it had been kept pending only at the instance of the R...

Now, taxpayers and professionals are thinking to get relaxed and concentrate on core sectors of business after introduction of GST w.e.f. 1st July 2017. However, perhaps this also will become the dream, since lot of activities are in pipeline, which are given below: -E-Invoicing w.e.f. 1st April 2020 -New Tax Return e.f. 1st April 2020 [&...

The Companies Amendment Act, 2019 has been recently passed by the parliament and notified in the gazette. We aim to give you the highlights of the changes brought in through the new Amendment. Background To bring the law relating to formation, functioning and regulation of the companies in India in line with the current global scenario ...