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Archive: 11 November 2020

Posts in 11 November 2020

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6435 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

DGGI Mumbai arrests 4 for passing on & availing fictitious ITC

November 11, 2020 615 Views 0 comment Print

Four persons have been arrested by the Mumbai Zonal Unit of Directorate General of GST Intelligence (DGGI-MZU), under CBIC, on Tuesday (November 10, 2020).

Auto-populated Form GSTR 3B (PDF) from October 2020 onwards

November 11, 2020 16191 Views 0 comment Print

Auto-populated Form GSTR 3B (PDF) for the taxpayers, from the month of October 2020 onwards 1. GSTN has earlier introduced Form GSTR-2B, a static statement with details of ITC available for a tax period, for the benefit of taxpayers. GSTR-2B is an auto-drafted Input Tax Credit (ITC) statement generated for every recipient, on the basis […]

Labour Reforms 2020

November 11, 2020 16710 Views 1 comment Print

The article is about the New Labour Codes 2020 passed by the Parliament and assented by the Hon’ble President of India. The article contains few important highlights of the three new labour codes and it gives a gist about how the new labour codes will revamp the existing labour laws and its benefits to the […]

“Lock Stock and Barrel – of Debit & Credit Notes with Tax Invoices under GST -Parable of Not a Penny More and Not a Penny Less”

November 11, 2020 16389 Views 2 comments Print

In this article, an attempt has been made to correlate two popular maxims – lock stock and barrel meaning entirely, from top to bottom with that of Not A Penny More and Not A Penny Less in the context of Debit and Credit Notes with Tax Invoices under the provisions of GST Act, 2017

Do you know the tax implications on Diwali gifts?

November 11, 2020 6189 Views 4 comments Print

Diwali for everybody is like meeting their friends and exchanging gifts. The gifts can be sweets, dry fruits, and other valuable items like silver or gold coins. But did you ever thought that these gifts may have some tax implications too?? No… Everybody believes that these gifts are not taxable in their hands. You are […]

GIST of GST notifications issued on 10.11.2020

November 11, 2020 43368 Views 5 comments Print

CBIC has issued various notifications yesterday i.e on 10th Nov, 2020 amending various rules in respect of return filing. A summary of the same is as below: ♦ Notification No. 82/2020 – Central Tax Central Goods and Services Tax (Thirteenth Amendment) Rules, 2020 have been notified. Highlights of the same are: e.f. 01.01.2021, an option […]

“Drag along” and “Tag along” provisions under shareholders’ agreement & their enforceability

November 11, 2020 40278 Views 1 comment Print

Under the Indian Companies Act, shareholders do not run any company, only the directors do. It is recognized that the directors represent the interests of the shareholders. Shareholders’ Agreement can outline who can appoint directors, how they are to be appointed and what percentage is required to remove a director. The right to appoint a […]

Guidelines for Other Service Providers in BPO & ITeS Sectors

November 11, 2020 3894 Views 1 comment Print

With an aim to qualitatively improve the Ease of Doing Business of the IT Industry particularly Business Process Outsourcing (BPO) and IT Enabled Services, the Government has drastically simplified the Other Service Provider(OSP) guidelines of the Department of Telecom. The new guidelines tremendously reduce the compliance burden of the BPO industry.

GST Form-2B – Auto-drafted ITC

November 11, 2020 18072 Views 2 comments Print

CBIC has inserted new FORM-2B – Auto-drafted ITC Statement- under  60(7) vide Notification No. 82/2020–Central Tax dated 10th November, 2020. Please find bellow the format of New Form-2B Auto-drafted ITC Statement, Advisory and Instruction for filing of the same. 1. Terms Used :- a. ITC – Input tax credit b. B2B – Business to Business […]

Anti-dumping duty on imports of Acrylic Fibre from Thailand removed

November 11, 2020 693 Views 0 comment Print

Notification No. 36/2020-Customs (ADD)- Seeks to rescind notification No. 27/2015-Customs (ADD) dated 1st June, 2015 to remove the anti-dumping duty applicable on imports of acrylic fibre from Thailand GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 36/2020-Customs (ADD) New Delhi, the 11th November, 2020 G.S.R. 707(E).- In exercise of the powers conferred […]

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