"16 March 2020" Archive

No late fee for GSTR 9

CBIC vide press release dated 14 March 2020 stated that No Late fees for delayed filing of the Annual Return for the financial year 2017-18 and 2018-19 for taxpayers with aggregate turnover less than Rs. 2 crores. Before this, filing of GSTR 9 was made optional for those with a turnover of less than Rs 2 crores […]...

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Legal Analysis of condition of payment of tax by seller for availing ITC by buyer [Section 16(2)(c)]

Legal Analysis of the condition of payment of tax by the seller for availing ITC by buyer [Section 16(2)(c)] Input Tax Credit is the soul of the GST Law. Ever since the enactment of the Goods and Services Tax Act, 2017 conditions for availment of input tax credit has been the subject matter of debate. […]...

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Mobilization Advance received prior to implementation of GST

In this article , an attempt has been made to simplify the content of Ruling by Tamilnadu AAR in response to question raised by M/S Shapporji Pallonji & Co Pvt Ltd.   Whether mobilization advance received prior to implementation of GST towards supply of Works Contract Service is subjected to GST? Facts & Figures: M/s. […]...

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Section 54F Capital Gain Tax Exemption

Article explains Circumstances to be fulfilled for availing exemption under section 54F,  What ‘Net Consideration’ means for Section 54F, Non-availability of exemption under section 54F, Amount of exemption available under section 54F, Circumstances under which Section 54F exemption would be withdrawn and Synopsis of the entire provi...

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Privatisation of Companies, Fake Currency & Bank Mergers

The Government has given ‘in-principle’ approval for Privatisation of 24 CPSEs including Subsidiaries, Units and Joint Ventures with sale of majority stake and transfer of management control....

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ITAT Advisory on functioning of Benches due to Coronavirus

F.No.233-Ad(AT)/2019-20 16/03/2020

(i) that the functioning of the Benches for a period from 17.3.2020 to 27.3.2020 shall be restricted to only urgent matters; (ii) that the Authorized Representatives or parties in person may mention their matters showing their urgency before the concerned Bench and upon the satisfaction of urgency, the Bench shall hear such matters;...

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Foreign Exchange Management (Debt) And (Non-Debt) Regulations, 2019

Foreign Exchange Management (Debt) And (Non-Debt) Regulations, 2019 Read With (Non-Debt) Amendment Regulations, 2019 A STEP TOWARDS STREAMLINING THE INVESTMENT PROCESS IN INDIA To bring in line the changes as proposed in the Finance Act, the Ministry of Finance vide its Notification (S.O. 3732(E)) dated October 17, 2019 notified the Forei...

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ESI contribution due date extended for February & March 2020

Notification No. P-11/14/Misc./1/2019-Rev 16/03/2020

The ESI contribution for the month of February, 2020 & March 2020 can be filed & paid up to 15th April, 2020 & 15th May 2020 instead of 15th March, 2020 & 15th April, 2020 respectively....

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Note on Recommendations Made In 39th GST Council Meeting

Various recommendations have been made by the GST Council in its meeting held on 14.03.2020 which is likely to be notified soon. Relevant points are as follows: 1. Interest for delay in payment of GST to be charged on net cash tax liability w.e.f. 01.07.2017 instead of gross tax liability (Law to be amended retrospectively). 2. […...

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Legal Approvals Required to Run a Clinic or Hospital in India

That’s why if you start any business must considered Legal Compliance Management Company first. thay give proper guidance legal and compliance auditing services and same handle every thing through legal and regulatory compliance software. In today’s legal landscape, commencing a private practice as a health care service provider b...

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