What is an important test to determine whether GST is leviable on services provided by directors? How are services provided by a managing director to a body corporate covered under GST?
Standard of Review Under Indian And Singapore Jurisprudence With Special Reference To Anan Group Judgment: A Comparative Analysis INTRODUCTION Recently, the Singapore Court of Appeal in the matter of AnAn Group (Singapore) Pte Ltd vs. VTB Bank (Public Joint Stock Company) [2020] SCGA 33 (hereinafter referred to as ‘AnAn’) dealt with an interesting question i.e. […]
Goods and Services Tax Act (‘GST’) was introduced in India from July 1, 2017 and is a single unified tax created by amalgamating provisions from erstwhile taxes like VAT, Service Tax, Excise etc. One of the legacy provisions which is included under GST from Service Tax is the concept of Reverse Charge mechanism (‘RCM’) wherein […]
Digitalization is the process of leveraging digital technology to improve the efficiency and reach of business processes. In today’s scenario, digitalization has become omnipresent in the lives of every person on this earth. Digitalization has made \our lives very accurate and faster in terms of getting news that we find in the newspapers every morning […]
Tax Deducted at Source (TDS) is a mechanism that has been introduced by the Income Tax Department. Under this, the responsible person is supposed to deduct a certain percentage of income as tax before making the payment to the receiver. The payment includes salary, commission, professional fees, interest, rent, etc. To provide more funds at […]
The Modi government in a bit to improve ease of doing business and unclogging courts has decided that 39 sections in 19 different Acts, which have been identified, shall be decriminalised. The government intends to do away with minor financial offences and has sought comments from the stakeholders against this move of decriminalisation as they […]
The product under consideration for the purpose of present investigation is “Aniline” which is also known as “Aniline Oil”. Aniline is a transparent, oily liquid and is a primary amine compound. Its colour transforms to light pale-yellow liquid when freshly distilled. Its colour darkens when exposed to light or air. Aniline is a basic organic chemical, essential for vital industries such as drugs, pharmaceuticals, dyes and dye intermediates.
The provisions of Section 44AB have been amended by the Finance Act, 2020 giving rise to major confusion in the minds of businessmen and professionals alike. A third threshold limit of Rs 5 crores has been added in order to reduce compliance burden on small retailers, traders, shopkeepers who comprise the MSME sector. In this […]
1. Section 18 of the CGST Act is applicable for Input Tax Credit ( ITC) availability to a taxable person who becomes liable to pay GST at a later stage. The liability to pay GST at a later stage may arise due to the following reasons:- (a) Turnover exceeds the limit from the prescribed limit […]
The Department of Financial Services have put forth a recommendation to decriminalise financial offences for reducing clogging of courts and the burden of carrying out business. This was introduced as a resolution towards the current slowdown of the country’s economy.
