Budget Session of Parliament, 2021 which commenced on Friday, the 29th of January, 2021 will take up 38 items (Includes 33 Bills and 5 financial items) during the session.
The COVID-19 pandemic not only had an effect on our financial security but also on our physical and mental wellbeing. The period has taught us some lessons for life, and none better than the importance of saving and investing for emergency crisis. We need money to start investing, true. But we do not need to […]
New Functionalities Made Available For Taxpayers On GST Portal (January, 2021) includes Functionality related to Deemed approval of Registration Application in Form GST REG-01, Field for capturing validity period, in case of SEZ unit and SEZ developers, in Form GST REG-01, Facility to upload documents in Form GST REG-13, Aadhaar Authentication and e- KYC changes […]
A recent judgment by ITAT Mumbai in the case of Maria Fernandes Cheryl has stirred the Indian income-tax universe again with its intriguing take on retroactive operation of amendments in Income-tax Act, 1961
As you are aware, though the general rule in GST is free flow of input tax credit (ITC),it is not available in respect of certain inward supplies of goods or services as per section 17(5) of the GST Acts. These are commonly known as blocked credits. The statutory provisions are explained below for reference:
In the matter of continuation of anti-dumping duty on imports of ‘Front Axle Beam’ and ‘Steering Knuckles’ meant for heavy and medium commercial vehicles , falling under tariff items 8708 50 00, 8708 94 00 and 8708 99 00 of the First Schedule to the Customs Tariff Act, originating in or exported from People’s Republic of China
The Union Budget 2021 presented by Finance Minister Nirmala Sitharaman on February 1, 2021. Union Budget 2021 is going to be completely paperless in the wake of going Corona virus pandemic. The Cabinet Committee on Parliamentary Affairs has recommended that the budget session of Parliament is to be held in two phases. This would be […]
1. OBJECTIVE The aim of this SOP is to lay down necessary directives for the smooth and efficient administrative functioning, handling/ operating funds, functioning of Finance & Accounts Department and to ensure that Statutory compliances are made in the following areas: a) Delegation of Authorities and Financial Powers b) General accounting and bookkeeping procedures c) […]
Why government needs to introduce a separate Section for repayment of home loan in ensuing budget With the skyrocketing prices of real estate, it is almost impossible for a young couple for buy house of their own without taking a home loan. The average ticket size home loan has also gone up steadily in the […]
Gujarat HC: Directed Revenue to unblock ex-Director’s ITC to recover Company’s VAT dues The Hon’ble Gujarat High Court in Nipun A. Bhagat v. State of Gujarat[R/Special Civil Application No. 14931 of 2020, dated January 4, 2021] directed the Revenue (Respondent) to unblock the ITC lying in the electronic credit ledger of Nipun A. Bhagat (Petitioner), […]
