INTRODUCTION The government of India through the Finance Act, 2019 bought 360-degree change under the Indian Stamp Act, 1899(hereinafter called as Stamp Act). Though there are numerous reasons for amending Stamp Act, some of the reasons are very explicit and some of them are not. However, no one can deny the fact that Stamp Act […]
Government of India introduced Goods and Services Tax, popularly known as GST to replace all indirect taxes w.e.f. 1st July, 2017. In GST regime, traders and dealers are required to fulfill many formalities and compliance but it is not problematic for small dealers to comply with all norms when compared to large ones. Thus, for the convenience and relaxation of small traders, the concept of composite scheme was introduced.
In the GST once paid can be claimed back. There are circumstances where GST paid to the government can be claimed back. There is set procedure which is totally online where a registered person can file and claim back the GST. There are two important aspect of GST Refund: 1. That under which circumstances it […]
After the notification of the SEBI Investment Adviser (Amendment) Regulations, 2020 on 3rd July, 2020, the Association of Mutual Funds in India (“AMFI”) has issued guidance regarding nomenclature to be used by Registered Mutual Fund Distributor. As per the said Regulations, no distributor shall use the nomenclature “Independent Financial Adviser or IFA or Wealth Adviser […]
The issue under consideration is whether the addition of ‘Mark to market’ Loss made by AO on account of disallowance of loss on foreign exchange forward contract loss is justified in law?
The issue under consideration is whether the assessee is correct in stating that cognizance taken under section 153A of the Act is illegal at the end of the A.O.?
Association of Tax Practitioners, Ernakulam has made a representation to Principal Commissioner (GST) and highlighted Difficulty faced by GST Tax Practitioners, in implementing directions contained in Circular No.142/12/2020-GST dated 09.10.2020, Failure of GST Portal Services and may other issues. They also requested to extend all due dates under GST. Text of the Representation is as […]
If you are a salaried person, you have a right to claim the benefits of an exemptions available on your few parts of the salary components given either in the form of ‘Allowances or Perquisites’. Here is the list given of most of the common exemptions which can be availed by a salaried person on […]
Notification No. 38/2020-Customs Regarding Exemption of Duties of Customs Against Scrips Issued Under The Rosl Scheme For Apparel And Made-Ups Sectors GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 38/2020-Customs New Delhi, the 21st October, 2020 G.S.R. 657(E).– In exercise of the powers conferred by sub-section (1) of section 25 of the […]
Generally, the GST registration is issued with unlimited validity. However, the validity period is applicable in case of registration of casual taxable person and non-resident taxable person. The casual taxable person and/or a non-resident taxable person willing to extend its GST registration is required to file an application in Form GST REG-11. Rule 15 of […]
