GOODS AND SERVICE TAX COUNCIL Issue-22, January 2021 Announcements Related to GST in Union Budget 2021-22 On 1 February, 2021 the Hon’ble Finance Minister, Smt. Nirmala Sitharaman presented the first ever paperless budget in the history. She rested the budget proposals on six pillars of: (i) Health and Wellbeing (ii) Physical & Financial Capital, and […]
Explore the legal aspects of information disclosure under RTI Act in Amit Kumar Shrivastava Vs CIC. Court emphasizes the burden on public authorities to justify non-disclosure.
W.e.f. 1st January, 2021, following two options are available to the Taxpayers who are under Quarterly Returns and Monthly Payment of Tax (QRMP) Scheme for tax payment for first 02 months of a quarter:
CGST Commissionerate, Meerut have unearthed yet another case of fake GST invoicing of ₹ 200 crore (approx) by carrying out simultaneous searches at 11 locations in Meerut & Ghaziabad.
The third Union Budget (in the Second Term of Prime Minister Shri Narendra Modi led Government) presented by the Finance Minister Smt. Nirmala Sitharaman on 1st February 2021; was unique for various reasons-it was delivered digitally, first budget in post COVID imposed lockdown; one of the budgets wherein government has chosen to go past the […]
It is submitted that Section 7(1)(aa) is sought to be inserted retrospectively with effect from the 1’st July, 2017, vide Clause 99 of Finance Bill, 2021, so as to ensure levy of tax on ‘activities or transactions involving the supply of goods or services by any person, other than an individual, to its members or […]
Jodhpur Vidyut Vitran Nigam Ltd Vs Union of India (Rajasthan High Court) Rajasthan High Court relied on Gujarat High Court judgment dated 19.12.2018 in case of Torrent Power Ltd. Vs. Union of India, and restrained GST department from raising any demand and/or taking any coercive measures to recover any tax on the basis of impugned […]
Since section 44AD did not obligate assessee to maintain books, the provisions of section 68 could not be invoked where assessee had filed return of income under the provisions of section 44AD without maintaining books of account.
Stamp Duty on MOA Stamp duty shall be Rs. 1000 on every Rs.5 Lakhs of amount of increase in authorised capital or part thereof subject to a maximum of Rs. 50 Lakhs of stamp duty. It means addition in the authorised capital will be charged with the stamp duty @ 0.20% Increase in Authorised Capital […]
Companies Act, 2013 under section 164 provides for various strategies when a person would be disqualified for appointment as a director. Section 164(1) sets out eight personal grounds for the qualifications of an individual director like being of unsound mind, insolvency, non-payment of call money, etc. On the other hand, Section 164(2) is wider in […]
