1. Introduction: E-Invoice is a standard format of the invoice recommended by the GSTN for the GST registered suppliers. There is a myth or misconception that e-invoicing means the generation of invoices from a central portal of the tax department (GSTN Portal). 1.1 E invoice does not mean the generation of invoices from a central […]
Request to grant Extension for GSTR 9 & 9C – Financial Year 2018-19 from 30.09.2020 to 31.12.2020 on behalf of all the stakeholders of the country be its Professionals, CAs, CMAs, SME Industries, Big Companies, Associations or any advisors etc
1. WHAT IS ESOP? ESOP means Employees Stock Option Plan. It enables employees to buy company share at discounted price. Start-ups have great business idea but a limited financial resource to operate in the initial years. It is popular these days as starts-ups generally use ESOP to attract and retain highly talented employees for long […]
GST applicability on member’s clubs There are lot of debates still going on relating to applicability of GST on member’s club in the context of Supreme Court larger bench decision [landmark decision] in the case of State of West Bengal & Ors. Vs Calcutta Club Limited [Civil Appeal No. 4184 of 2009] and State of […]
Press Note No. 4 (2020 Series), reviewing Foreign Direct Investment (FDI) Policy in Defence Sector Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry has issued Press Note No. 4 (2020 Series), reviewing Foreign Direct Investment (FDI) Policy in Defence Sector. The decision will take effect from the date of […]
Keeping in view of the Faceless Assessment Scheme,2020 implemented by the Department and the difficulties being faced amid COVID-19 pandemic, the parameters for compulsory selection of returns for Complete Scrutiny during Financial Year 2020-21 and conduct of assessment proceedings in such cases are prescribed as under:
It has been decided that in respect of purchase of units of mutual fund schemes (except liquid and overnight schemes), closing NAV of the day shall be applicable on which the funds are available for utilization irrespective of the size and time of receipt of such application.
The Income Tax Department carried out a search and seizure operation on a prominent Hotelier, owning a chain of Hotels at Srinagar, Gulmarg, Sonamarg and Pahalgam with another hotel under construction at Leh.
For applicability of provisions of any act/law there shall be a ‘Taxable Event’. In GST ‘Supply’ is that taxable event that triggers applicability of provisions of CGST/SGST/IGST/UTGST act 2017. As per Section 7 (1) – Supply The term Supply has been defined under section 7 (1) of the CGST Act by way of Scope of Supply which […]
The right to claim ITC on goods and/or services received by the Recipient is never disputed both in GST law and erstwhile VAT regimes. However, what should be the correct amount of ITC which can be claimed by the recipient has been a matter of legal debate in both GST law and erstwhile Indirect Taxation regime.
