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Archive: 17 November 2020

Posts in 17 November 2020

ICAI President’s Message – November 2020

November 17, 2020 753 Views 0 comment Print

Dear Professional Colleagues, Prudent corporate governance practices are always the backbone of development and progress of economic ecosystem of any country. After globalisation and liberalisation were introduced to the largest democracy of the world, international businesses looked at India with a new perspective and exploited untapped and immense potential of Indian markets. Changing ownership structures, […]

Guns N Roses – Digital Synchronisation Income Tax vis-a-vis GST

November 17, 2020 7671 Views 4 comments Print

Dear All, Happy to present before all of you my another article on Guns N Roses – Digital Synchronisation Income Tax vis-a-vis GST 👆. This article has penned after the reporting of GSTR 3B data started in Form 26AS of the Assessee on 12th November 2020. Article briefly discusses what needs to be done in […]

GST Taxability of Food & Accommodation Services for Coaching Services

November 17, 2020 8403 Views 1 comment Print

In one of the recent Advance Rulings, the Authority for Advance Rulings, Andhra Pradesh, has opined that GST will be levied on supply of food and accommodation services for coaching services and no exemption is available to such services. [In Re: Master Minds (2020) 7 TMI 348; (2020) 117 taxmann.com 824 (AAR, Andhra Pradesh)]. In […]

ICAI: Change & corrects address of Exam Centres for Nov 2020

November 17, 2020 1632 Views 0 comment Print

Change of certain Examination Centre / minor correction in the address for November 2020 CA Exams. It is hereby informed that due to unavoidable circumstances, certain examination centre(s), as per details give below has been changed.

ICAI Submits Pre-Budget Memoranda-2021 on Direct & International Tax

November 17, 2020 2208 Views 0 comment Print

The Council of the Institute of Chartered Accountants of India considers it a privilege to submit this Pre-Budget Memorandum – 2021 on Direct Taxes and International Tax to the Government. The memorandum contains suggestions for the consideration of the Government while formulating the tax proposals for the year 2021-22.

Consequences for Not Displaying GSTIN on Board

November 17, 2020 66132 Views 3 comments Print

You have set up your office in Maharashtra and you are not displaying your GST number on your board outside your office? Then be aware because you might get penalty notice from the department if anyone complaints against you. You are thinking why? In this article we are answering the most important but ignorant question […]

HC restrains Revenue from recovering service tax refunded on foreign agency commission prior to 18.04.2006

November 17, 2020 660 Views 0 comment Print

The appeal is disposed of, answering the questions of law in favour of the Revenue; but restraining the respondent-Revenue from recovering the amounts refunded since as of now the levy of service tax on the payment in lieu of foreign agency commission will not be leviable as ‘Business Auxiliary service’ prior to 18.04.2006. Parties are left to suffer their respective costs.

Equalisation Levy- An Overview

November 17, 2020 7239 Views 1 comment Print

Equalization levy was introduced by the Finance Act,2016 on certain non resident companies and related activities. The levy was applied @6% on certain ‘specified services’ such as online advertisement, any provision for digital advertising space or any other facility or services for the purpose of online advertisement if the aggregate amount of consideration for specified services in a previous year exceeds 1 lakh.

Food Safety and Standards (Labelling and Display) Regulations, 2020

November 17, 2020 30858 Views 2 comments Print

-(1) These regulations may be called the Food Safety and Standards (Labelling and Display) Regulations, 2020. (2) These regulations prescribe the labelling requirements of pre-packaged foods and display of essential information on premises where food is manufactured, processed, served and stored.

Sudharshan 35 MM guilty of profiteering: NAA

November 17, 2020 744 Views 0 comment Print

Principal Commissioner Vs Sudharshan 35 MM (NAA) Applicant No. 1 had filed an application dated 06.03.2019 under Rule 128 of the CGST Rules, 2017 alleging profiteering by the Sudharshan 35 MM in respect of the supply of ‘Services by way of admission to exhibition of cinematograph films where price of admission ticket is one hundred […]

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