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The Prime Minister said that that our scientists came out with the vaccine in a very short time and today India has the cheapest vaccine in the world which is compatible with the cold-chain available in India.
Finance Act, 2020 made a paradigm shift in the process of registration of public charitable trust by inserting a new section 12AB. Though the same to be made applicable from 1st June, 2020, the pandemic delayed its applicability and the same was made applicable recently on 1st April, 2021. The notification making the same applicable […]
Analysis of Provisional Attachment of Property under GST : Now a days it is seen that department is commonly attaching bank accounts/ property of the taxable person by invoking the powers given in section 83 of the CGST Act. Prior to amendment through Finance Act 2021, Extract of Section 83 is as below: Section 83 […]
CBIC exempt customs duty on import of Remdesivir injection, Remdesivir API and Beta Cyclodextrin (SBEBCD) used in the manufacture of Remdesivir, up to 31st October, 2021 vide Notification No. 27/2021–Customs Dated 20th April, 2021. Government has waived the Custom Duty Considering the immediate requirement on the recommendation of the Department of Pharmaceuticals, the Department of […]
Radha Krishan Industries Vs State of Himachal Pradesh (Supreme Court) SC explains law for provisional attachment of Bank Account under GST This Appeal was filed against the judgment and order of the Hon’ble Himachal Pradesh High Court (HP HC) wherein, the Court dismissed the writ petition challenging orders of provisional attachment on the ground that […]
Slump sale is a widely adopted method of business restructuring wherein certain assets and liabilities are sold as a bundle for a lump sum consideration. While slump sale is well recognized concept under income-tax law with specific provisions regarding taxability, slump sale has not been acknowledged by erstwhile VAT law as well as current GST regime. […]
What is Composition Scheme in GST? Composition Scheme under GST is a scheme which offers comparatively lesser compliance’s. Small taxpayers can get rid of various GST formalities and can pay GST at a fixed rate of turnover. For fresh registrations under the GST Composition Scheme, an intimation in Form GST REG- 01 must be filed. […]
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi gives ex-post facto approval for the Government amendments to the Finance Bill, 2021 (enacted on 28th March, 2021 as the Finance Act, 2021).
File your ITR 1 for the financial year 2020-21 hassle-free. Learn about the income sources and due date for filing ITR 1.
In coordination with Shipping lines, drive was taken to reposition empty containers in India on urgent basis. Consequently, 100,000 empty containers were repositioned on Indian ports from across the world by the Shipping lines.
