To operationalize the Special Window to States for meeting the GST Compensation Cess shortfall of` ₹1,10,000 crore the GoI borrowing calendar is being modified in consultation with RBI. For the remaining period of the fiscal year 2020-21 (October 19, 2020 to March 31, 2021) GoI will borrowan aggregate amount of ₹ 4,88,000 crore. The additional amount for meeting the GST compensation shortfall shall be raised equally @ ₹55,000 crore under the 3 year and 5 year tenors.
The RBI Committee was formed under former Corporate Affairs Secretary, Mr. Tapan Ray to suggest a new regulatory and supervisory framework in light of the bust up of IL&FS in 2018. IL&FS was declared insolvent in September 2018 after it failed to honour its debt which was distributed among its 347 group companies. The complex […]
Tally allows only limited features in its Education Mode, which allows you to pass entries only on opening and closing dates of a Month. The same applies while exporting data to excel. Only opening and closing entries have date along with them and the rest labeled as “Educational Mode”. There is easy workaround for getting […]
The DC further notes that an IP who is more than 70 years of age cannot make an application for the grant of AFA. Therefore, he could not apply for obtaining grant of AFA and hence, could not hold AFA.
Ever since the concept of e-invoicing was approved by the GST council, Introduction of e-Invoice was approved by GST council in its 37th meeting held in the month of September,2019 with the key objective to ensure inter-operability of e-invoices across the GST eco-system. In this article, let’s discuss and understand everything about e-invoicing under GST. Q. […]
In this article we look at need for tax planning for foreign Chinese-invested enterprises in Kenya. What is a foreign Chinese invested enterprise? Guo Shui Fa [2009] No. 82 (circular by SAT) defines a foreign Chinese invested enterprise as an enterprise ‘registered and established outside the territory of China in accordance with the laws of […]
PVR Ltd. Vs Commercial Tax Officer (Madras High Court) Conclusion: Online booking charges or internet handling charges was not a mandatory payment for gaining entry into the cinema hall, it was an additional payment for extra or other facility provided by the Cinema hall owner thus, the same could not be subjected to entertainment tax. […]
In re Midas Foods (P) Ltd (GST AAR Uttarakhand) (a) Whether Overseas Commission Agent is covered within the definition of the term ‘intermediary’ as provided under section 2(13) of the IGST Act, 2017; Overseas Commission Agent is covered within the definition of the term intermediary’ as provided under section 2(13) of the IGST Act, 2017; […]
In re Shubham Sarvam Medical Projects LLP (GST AAR Uttarakhand) On perusal of aforesaid legal provisions , we find that all the healthcare services by a clinical establishment or authorized medical practitioner or para medics by way of diagnosis or treatment or care for illness, injury, deformity, abnormality or pregnancy and services by way of […]
I. Whether input tax credit of GST paid on goods and services used tor laying of cross-country pipeline nearby river till the boundary wall of the Factory can he taken by the Appellant? II. Whether input tax credit can be availed on Operation and Maintenance Services (‘0 & M Services’) obtained by the Appellant for the maintenance of the facility?
