The Food Safety and Standards Authority of India, vide Gazette ID CG-DL-E-10122020-223635 issued dated 18.11.2020 and published in Gazette on 10.12.2020 has framed The Food Safety and Standards (Labelling and Display) Regulations, 2020. The Food Authority has decided to divide the Food Safety and Standards (Packaging and Labelling) Regulations, 2011into two regulations, – (i) the […]
Special Provisions For Full Value Of Consideration For Transfer Of Assets Other Than Capital Assets In Certain Cases [Section 43CA] Section 43CA inserted by the Finance Act, 2013, with effect from 01.04.2014 (i.e. with effect from A.Y. 2014-15) which provides that where the consideration received or accruing as a result of the transfer by an […]
To create a retirement corpus one of the secured way is National Pension Scheme (NPS). Resident as well as Non- Resident can open this account. Do you want to know how to start contributing to NPS without going anywhere physically? Let’s find the answer below. There is an eNPS facility which you can use to […]
1. Rule 86B (Restriction on use of Input Tax Credit for discharging the output liability) has been inserted into CGST Rules, 2017 vide notification no. 94/2020-Central Tax Dated 22nd December 2020 (Central Goods and Services Tax (Fourteenth Amendment) Rules, 2020, to be implemented w.e.f.1st January, 2021. Announced at midnight, nonetheless. 2. This rule basically says […]
Deductions from Gross Total Income This Article covers the common deductions which can be claimed while filing Income Tax Return. Most Common Deductions are classified in the following Categories for easy understanding- 1. Income Based Deductions 2. Standard Amount of Deductions 3. Investment Based Deductions 4. Expenses Based Deductions Before going to any Specific Deductions, […]
Understanding the reasons behind why litigants are not afraid of Contempt of Court in our judicial system. Delve into the implications of leniency and lack of deterrent sentences.
BJP Economic Cell, Rajasthan has requested Hon’ble Union Finance Mister to extend due dates of ITR for person (Non-Audit) (FY 2019-20), Tax Audit Reports (FY 2019-20), ITR for other persons (FY 2019-20), GST Annual Return GSTR9/9C/4 (FY 2018-19), GST Annual Return GSTR9/9C/4 (FY 2019-20), Vivad Se Vishwas Scheme, 2020, Companies Fresh Start Scheme. 2020 and […]
The Hon’ble AAR Odisha, in the matter of Tokyo Electric Power Co. [Order No.02/Odisha-AARJ2020-21 dated November 19, 2020] held that supply of consultancy service to an Indian entity Odisha Power Transmission Corporation Limited (OPTCL) is not import of service in terms of Section 2(11) of the Integrated Goods and Services Tax Act, 2017 (IGST Act) […]
Article explains recent amendments related to Revision in time limits for granting GST registration, Additional Grounds for Cancellation of GSTIN, Suspension of registration without opportunity of personal hearing, Restrictions on filing GSTR-1 in case of non-filing of GSTR-3B, Blocking of E-Way Bill Portal in case of suspension of GST registration, Restriction on availment […]
The GSTN recently introduced downloading Excel file of back up data pertaining to GSTR9’s Table 8A. This comes after several requests where assesses are not able to reconcile GSTR2A with the Values populated in GSTR9. Background: As per GSTR9, the value Auto-populated in Table 8A has to be justified with break up details by the […]
