"02 May 2021" Archive

Accounting for Import Transactions of Goods – GST viz a viz AS 11

Accounting for Import Transactions of Goods – GST viz a viz Accounting Standard AS 11 This Article deals with the nuances of the GST framework for Import Trade viz a viz the challenges laid down while adhering to the Accounting Standard AS 11 – The  Effects of Changes in Foreign Exchange Rates Lets understand a […]...

Read More

Mandatory Re-Registration Under Section 12A and 80G of Income Tax Act by Existing NGO before 30.06.2021 -FAQ’s

Mandatory Re-Registration Under Section 12A and 80G of Income Tax Act by Existing NGO before 30.06.2021 -FAQ’s Dear friends, NGOs are an integral part of our Society. There are many NGOs in India like The Earth Saviours Foundation, The Akshaya Patra Foundation, Iskcon, etc which are providing food and shelter to the needy peoples. To [&...

Read More

15% NOT 24% interest Payable when Service Tax was not collected

Bala Ji Manpower Services Vs. Union of India & others (High Court Of Punjab & Haryana)

Bala Ji Manpower Services Vs. Union of India & others (High Court Of Punjab & Haryana) The only question that requires adjudication is at what rate petitioner is liable to pay interest i.e. 15% or 24%. Admittedly, the petitioner firm started its service after completing registration formalities in July, 2011 and the respondents ha...

Read More

GST Compliance Due dates as amended by Notifications on 1st May 2021

GST Compliance Due dates as amended by Notifications 9/2021, 12/2021, 13/2021-Central Tax issued by CBIC on 1st May 2021 Due Dates for March 2021 and April 2021 For Part 1 states Due Dates for March 2021 and April 2021 For Part 2 states Turnover > 5crores in preceding financial year Turnover > 5crores in preceding […]...

Read More

Dual GST Model & GST Structure In India

1.1. INTRODUCTION TO DUAL GST MODEL Many countries in the world have a single unified GST system i.e. a single tax applicable throughout the country. However, in federal countries like Brazil and Canada, a dual GST system is prevalent whereby GST is levied by both the federal and state or provincial governments. India is a […]...

Read More

Relief measures for taxpayers under GST in view of COVID-19

In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances under Goods & Services Tax (GST) law due to the outbreak of the second wave of COVID-19 pandemic, the Government has issued notifications, all dated 1st May, 2021, providing various relief measures for taxpayers. These measures are explained b...

Read More

Summary of NCLAT Judgement on IBC 2016 for April 2021

2nd Edition- NCLAT Judgement Summary for the Month of April’ 2021 on IBC, 2016 It gives us immense pleasure to share our 2nd Edition of NCLAT Judgement Summary for the month of April’ 2021 covering summary/ gist of finding of the Hon’ble NCLAT. The Judgement summary prepared by us is for the purpose of understanding […]...

Read More

Initiation of IBC Proceedings against a Government Company: Shattering the questionable Conundrum under IBC

Initiation of Proceedings against a Government Company: Shattering the questionable Conundrum under IBC Introduction Section 238 of the Code is a non-obstante clause in the Insolvency and Bankruptcy Code, 2016 (hereinafter referred as ‘the code’) which does not incorporate any distinct limitation from the Constitution to impose a comp...

Read More

SC Judgment on Whether apparent can be considered as real?

Sumati Dayal Vs. CIT (Supreme Court)

Sumati Dayal Vs. CIT (Supreme Court) Whether the apparent can be considered as real? As laid down by this Court, apparent must be considered real until it is shown that there are reasons to believe that the apparent is not the real and that the taxing authorities arc entitled to look into the surrounding circumstances […]...

Read More

ICAI Waives Condonation Fees due to late filing of application Form 18

Amidst the current situation arising out of Covid-19, it is observed that Members and Firms are facing difficulties in filing Form 18, i.e., for re-constitution of Firm, intimating Joining/leaving of Partner(s)/Paid Assistant(s) and opening/closing of Branch Office within the prescribed period....

Read More

Search Posts by Date

May 2021
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930
31