On review of the COVID-19 pandemic related situation, it has been decided that the regulatory measures introduced vide SEBI Press Release dated March 20, 2020′ , shall continue to be in force till September 24, 2020.
Reserve Bank hereby extends the said period of three months for the furnishing of the returns under Section 31 of the Act for the financial year ended on March 31, 2020 by a further period of three months. Accordingly, all UCBs shall ensure submission of the aforesaid returns to Reserve Bank on or before September 30, 2020.
The issue under consideration is whether the dredger is covered as a foreign flag vessel and liable for payment of custom duty?
Question: Mr. A is an interior decorator having registered office in Faridabad. He has been assigned with the interior work of a company located in Bhiwadi. Or Question: Mr. A is a landowner who is located in Faridabad and owns an immovable commercial property in Bhiwadi. Now there are two questions which comes in our […]
Purpose: 1. To avoid double taxation on the supply of goods which has already been taxed e. Second hand Goods. 2. GST is calculated on the difference between the value at which the goods are supplied and the price at which the goods are purchased e. profit margin unlike GST charged on the transaction value […]
As per section 2(6) of CGST Act, 2017 ‘aggregate turnover’ means the aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis), exempt supplies, exports of goods or services or both and inter-State supplies of persons having the same Permanent Account Number, to be computed on all India basis but excludes central tax, State tax, Union territory tax, integrated tax and cess.
Reverse Charge Mechanism (RCM) on purchases made from Unregistered Dealer under GST As per Section 9(4) of CGST Act, 2017 and Section 5(4) of IGST Act, 2017 any Supply of goods or service from an Unregistered supplier to a Registered supplier will cast liability to Pay GST to the Government in the form of RCM i.e. […]
There are many doubts comes in our mind whether we need to reverse the common ITC related to Interest Income because it represents the part of turnover. I wish to clarify that there is no such reversal at all for the registered person other than a banking company or a financial institution including a non-banking […]
Input services ITC also eligible for refund under Inverted duty structure – Analysis of Gujarat High Court decision and its impact- Introduction: The fundamental principle of GST laws worldwide is that it is a multi-stage tax and tax on value addition, with final consumer alone ultimately bearing the tax. This is ensured by allowing the […]
There are some misleading media reports to the effect that if there is no valid PUC certificate at the time of accident, claim under a motor insurance policy is not payable. It is hereby clarified that not holding a valid PUC certificate is not a valid reason for denying any claim under a motor insurance policy.
