"20 June 2020" Archive

Include CMA services in Desk Review system of GST Audit

In Desk Review, CMAs can also be a good assistant to CBIC and can guide to Govt. Officials which documents are necessary to scrutiny and review properly before field visit according to nature of business which in result will prevent revenue leakage of Govt....

Read More

RCM Liability on Government Services

Under GST Law, Section 9 of the CGST Act, 2017 and Section 5 of the IGST Act, 2017 empowers the Central Government to notify such goods and services on supply of which the recipient shall be liable to pay applicable GST under the Reverse Charge Mechanism....

Read More

Transitional credits in GST – a litigation saga….

Taxpayers, subject to certain conditions, could transition un-utilised input tax credits under the erstwhile laws say, Central excise, Service Tax and State VAT laws into GST by filing Form GST TRAN-1. In regard to transitional credits, intense legal battles were fought on certain contentious issues like is it a vested right or a conditio...

Read More

Analysis of E- Commerce Operator in GST

INTRODUCTION: In the present article I will discuss the important aspects of E-Commerce Operator (in short “ECO”) in GST. In this era ECO plays an important or vital role in our life and it have impact not only to the market but day to day life of human being also.  To understand the GST law […]...

Read More

Buy-Back of Securities under Companies Act, 2013

BUY-BACK OF SECURITIES I. Applicable provisions: > Companies Act, 2013 – Section 68 – Section 69 – Section 70 – Rule 17 of The Companies (Share Capital and Debentures) Rules, 2014 > SEBI – Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018. II. What is Buy-Back? There is n...

Read More

Bail granted to Youth accused of Evading GST by bogus invoices

In a recent judgment, the High Court of Punjab & Haryana, in case of Abhishek Modgil Vs State of U.T. Chandigarh, dated June 12, 2020, granted anticipatory bail to 24 years young boy accused on account of committing an offence of tax evasion to the tune of Rs. 4,02,00,136 by generating bogus invoices of sales and […]...

Read More

Incentive for export of agriculture products – An overview

In order to boost the economy and promote exports from India, there has been various schemes notified under Foreign Trade Policy (2015-20) giving the incentive to the exporters to make the Indian products price competitive in the international markets. Further it is also clear that the taxes should not be exported as per the internationa...

Read More

Section 17 | Apportionment of credit & blocked credit | Simplified

The input tax credit eligibility is based on the fact as to whether the goods or services or both are used for taxable supplies or exempt supplies. Where the goods or service or both are used for both taxable and exempted supplies, only proportionate credit is allowed to a registered person....

Read More

Provisions of Takeover code and recent changes

Introduction The concept of takeover is quite old but in India it began in the 20th century. The first effort to takeover was a failed one in the country. The first take over was of the companies Escorts Ltd. and DCM Ltd. It was however a failed one because there were not any rules and […]...

Read More

Company Name Change Procedure under Companies Act 2013

All the companies incorporated under The Companies Act, 2013 are governed by the Companies Act, 2013. And apart from many other provisions, The Companies Act, 2013 has given the liberty for changing the existing name of company in case company is desirous of changing its name. Now, let us go through its important provisions, in […]...

Read More

Search Posts by Date

January 2022