"09 April 2020" Archive - Page 6

Will Director’s Salary be Liable to GST?

Hon’ble AAR has held that Directors are not employees without explaining the reason behind such a conclusion and even without explaining the reason of rejecting the evidences to the contrary produced by the applicants....

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Facilitation provided to AEO/DPD importers due to COVID-19 pandemic

Public Notice No. 50/2020-JNCH 09/04/2020

Customs clearance on the basis of self-certified copies of PTA/FTA certificates in case of DPD/AEO Clients – Facilitation provided to AEO/DPD importers due to COVID-19 pandemic ...

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Income-tax on buyback of shares by unlisted companies

Under the existing provisions of the income-tax law, transfer of shares in an Indian company by a shareholder (which includes buy-back of shares under section 77A of the Companies Act, 1956) is subject to tax under the head capital gains. ...

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Implementation of decision to expedite pending GST refund claims

Instruction No. 2/1/2020-GST 09/04/2020

Decision to process pending refund claims has been taken with a view to provide immediate relief to the taxpayers in these difficult times even though the GST Law provides 15 days for issuing acknowledgement or deficiency memo and total 60 days for disposing off refund claims without any liability to pay interest, all pending refund appli...

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Determination of Residential Status of Individual – Amendments

The Finance Act, 2020 made various other key amendments which were originally not proposed in the Finance Bill, 2020. In this article, the Author has attempt to discuss each amendment in-depth in comparative form (i.e. the position as per earlier law viz-a-viz position as per amended law). Further, the Author has also provided the Flow Ch...

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