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Budget 2021 has brought cheers to many in the business & professional world. Sensex started rising even before budget from 29th Jan 2021 & gained 4,446 points and achieved it’s peak to 50,731 as on 05th Feb 2021. In fact IMF already projected 11.5 % growth for India before Budget as on 26th Jan 2021. […]
Office of the Commissioner of State Goods and Services Tax Department Tax Towers, Karamana, Thiruvananthapuram. Date: 05.02.2021 Press release An investigation conducted by the Idukki unit of the Investigation Branch of the State Goods and Services Tax against fake/bogus invoices and resultant availment of ineligible ITC detected a case where fake invoices were seen to […]
As On 1st Feb, 2021 and much to the expectation of all, our finance minister has infused capital expenditure much needed for the development. As much in a budget for income tax there was no change in slab rates as well as introduction of any covid cess which are doing rounds in social media. But […]
Scope of Due Diligence in SEBI (Framework for Rejection of Draft Offer Documents) Order, 2012 SEBI (Framework for Rejection of Draft Offer Documents) Order, 2012 provides various criteria that could lead to rejection of draft offer documents by SEBI, which has to be mandatorily filled by the issuer before raising money from the public under […]
Introduction: As a part of the ‘Ease of Doing Business’ Initiative, the CBIC has come with a new Scheme for filing GST Returns named Quarterly Return Monthly Payment Scheme under Circular No. 143/13/2020-GST on 10th November 2020. This helps the small taxpayers whose yearly turnover is less than INR 5 Crore. This scheme allows the […]
1. Amendments in Goods and Service Tax 1.1. Introduction: 1.1.1. A King/Ruler is the one who creates and acquires wealth, protects and distributes it for common good – is the opening statement for Part B of the Budget Speech. The instant changes are replica of the same. The changes have assured a full stop to […]
Dear Friends, in the era of Digitalization, now the customers are shifting from retail market to online Platforms like Flipcart, Amazon, Snapdeal etc for there purchase requirements. As we all know in the present time, customer is king, so the businessmen are also shifting from retail market to online platforms. Many persons have shifted their […]
With the world becoming tech savvy a lot of ideas have popped up into the human mind giving birth to a new word in the business sector ‘Start-up’. Start-up is basically a new company on the very beginning stage of its operations and are often initially financed by the entrepreneurs behind the idea.
The Finance Minister has introduced the Union Budget 2021 (‘Budget’) in the Parliament amidst the panic and upheaval caused to the society globally by the pandemic. All governments have had to grapple with the human and economic havoc. The Budget aims to increase public spending to steer the economy from its worst contraction in decades.
From perusal of the order passed by the authorities, it is evident that the authorities have accepted the books of accounts produced by the assessee. The Assessing Officer, in its order, has admitted that the payment of speed money is a trade practice which is followed by the assessee and similar business concerns functioning for speedy completion of their work.
