Preference as the term implies are the shares that rank at a priority above the equity shares. It means and includes that part of the share capital the holders of which have a preferential right over payment of dividend (fixed amount or rate) and repayment of share capital in the event of winding up of […]
Analysis of Ministry of Micro, Small and Medium Enterprises – Notification dated June 26, 2020 The Ministry of Micro, Small and Medium Enterprises (MSME) has set out a notification dated June 26, 2020 regarding the new registration process called ‘Udyam Registration’ and classification of MSMEs. Under this all the existing enterprises registered under EM-Part II […]
The Goods and Services Tax (GST) Council headed by the honourable Finance Minister Smt Nirmala Sitharaman announced ‘waiver of late fees‘ on 12th June 2020, in case of delay in filing of GSTR-3B for the period between July 2017 to January 2020 with details as given below: GSTR -3B STATUS OF RETURN (July 2017 to […]
GST (Compensation to State) Act, 2017 (Act No.15 of 2017) In this Article Author compiled GST (Compensation to State) Act, 2017 with all notification / Acts issued and changes which occurred till Till 30th June 2020. Books contains all Section of GST (Compensation to State) Act, 2017. Book is Updated by By Ghanshyam Upadhyay and […]
The Union Territory Goods and Services Tax Act, 2017 [As amended Finance Act 2020 (No. 12 of 2020)] In this Article Author compiled Union Territory Goods and Services Tax Act, 2017 (UTGST Act 2017) with all notification / Acts issued and changes which occurred till Till 30th June 2020. Books contains all Section of UTGST […]
1. Classification:- Enterprise Investment in Plant and Machinery or Equipment Turnover Micro < 1 Cr < 5 Cr Small < 10 Cr < 50 Cr Medium < 50 Cr < 250 Cr 2. Composite Criteria for applicability of Classification – If an enterprise crosses the ceiling limits specified for its present category in either of […]
Chapter Wise Analysis of All Statutory Amendments From 1st November 2019 To 30th April 2020 GOODS & SERVICES TAX Charge of GST 1. Clarification in respect of reverse charge mechanism on Renting of Motor vehicle: – [Notification 28/2019-Integrated Tax Rate dated 31st December, 2019, Notification No. 29/2019- Central Tax (Rate) r/w Circular 130/2019-Circular dated 31st […]
The issue under consideration is whether the transfer of goods is by way of hiring the charter vessel is taxable under Service Tax as declared service?
The issue under consideration is whether the Payment Gateway facilities provided by banks are liable for TDS provisions?
According to ITAT, the claim of assessee on account of Pay anomaly of employee crystallized during the year should have been accepted and he, therefore, granted relief to the assessee. Further, they observed that in the order dated 24.12.2009 for assessment year 2006-07 in assessee’s own case, the Tribunal decided that the liability crystallized during the year has to be allowed. Hence, now they do not find anything improper in the approach of the CIT(A) to allow the expenses in respect of which the liability crystallized during the year.
