REFUND OF ITC PAID UNDER EXPORT OF GOODS / SERVICES WITHOUT PAYMENT OF IGST This article clearly explains, how to fill and submit Refund Application for claiming REFUND unutilised ITC against Export of Goods/Services without payment of IGST (means, Sales against LUT) Path: Click on Services menu ——> Refunds ——> Application for Refund — > […]
Are you a young entrepreneur full of new & unique ideas about any product or service but not getting any platform about how to start it ? If your answer is Yes, then my article on startup will be very useful for you all. This article will let you know about the meaning of startup, […]
INSURANCE REGULATORY UPDATES –MAY, 2021 The IRDAI and Insurance Law updates provides synopsis of the introduction, amendments and changes brought by the Government the previous month ( April 2021) is being published in this bulletin. Sr. No. Particulars Page No. 1. IRDAI through Circular No. IRDAI/ACT/CIR/MISC/070/04/2021 dated 1st April,2021 has instructed the insurers to submit Technical […]
The taxation of the digital economy was first on the Organization for Economic Co-operation and Development (OECD) list of 15 Base Erosion and Profit Shifting (BEPS) Action items. BEPS Action Plan 1 was announced in 2013 in which it had partially addressed the challenges that would be faced by the digital economy.
Ocimum Bio Solutions India Ltd. Vs DCIT (ITAT Hyderabad) On perusal of the financial statements submitted by the assessee, we find that there is no doubt that the assessee has increased share capital. On perusal of the provisions of section 35D, we find substance in the written synopsis submitted by the ld. AR of the […]
Dr Sanjay Chaturvedi, LLB, PhD. COVID-19 has brought many questions on Force Majeure. Genuine cases where the performance is not possible because huge migration of construction labour in the country does exist. The government lifted Lockdown rules on 8th April 2020 and issued a SOP for construction workers. The SOP was for their accommodation and food, social […]
Insurance Regulatory and Development Authority of India (Preparation of Financial Statements and Auditor’s Report of Insurance Companies) (First Amendment) Regulations, 2021
Institutes imparting education to students for becoming Chartered Accountant (CA), Cost Accountancy, Company Secretary (CS), Certified Management Accountant (CMA) etc are not covered under the definition of ‘educational institution’ in Para 2 (y) of the Notification No. 12/2017 Central Tax (Rate) dated June 28, 2017 (Services Exemption Notification).
It has been observed and brought to our notice that our Chartered Accountants as professional service providers face lot of barriers and challenges while providing their services in global market. In order to reduce those barriers and open more opportunities to our members, we need your inputs and suggestions so that ICAI can facilitate export of professional services.
The Hon’ble Allahabad High Court in G. K. Trading Company v. Union of India & Ors. [Writ Tax No. 666 of 2020, dated December 2, 2020] dismissed the petition filed for prohibiting another proper officer to initiate any inquiry/proceeding on the same subject-matter. Held that, there is no proceeding initiated by a proper officer on […]
