As a part of promotional activities, the trend of issuing prepaid vouchers, coupons or gift cards has reached new heights. Though these terms are interchangeably used in the common parlance, GST implications on the same are different. In this article, author has analysed different kinds of transactions and GST implications on vouchers, coupons, gifts cards etc.
In this Volume of GST & Corporate Tax Tabloid dated 17.07.2021, I bring to you highlights of recent updates and important judgments of last week in the field of indirect taxation and direct taxation to keep you abreast of all the latest happenings. 1. GST Updates CBIC proactively put in place a COVID Response Plan (CRP) for speedy clearances […]
Minister of Road Transport and Highways Shri Nitin Gadkari has said with an aim to preserve and promote the heritage of vintage vehicles, the registration process of Vintage Motor Vehicles has been formalized.
Any existing limited Company, i.e., private or public Company, whatsoever registered under this Act or under any previous company law can apply for conversion into Section 8 Companies subject to the following conditions: • The Memorandum and Articles of Association of the existing Company has in its objects the promotion of commerce, art, science, sports, […]
Eligibility Criteria to take FCRA Registration:-The association should be registered under an existing statute like the Societies Registration Act, 1860 or the Indian Trusts Act, 1882 or Section 8 of Companies Act, 2013
The formation and regulation of Producer Company is governed under the provisions of Sections 581A to 581ZL of Companies Act, 1956, read with Companies Act, 2013, i.e., powers of the same are given under Section 465 and the rules made there under. A producer company is a Company that is incorporated under the provisions of […]
Appellate Hierarchy:- 1. Appeal to CIT (A) An appeal to the Commissioner (Appeal) against any order which is appealable is to be presented within 30 days from the date specified. However the commissioner (Appeal) may admit an appeal even after the expiry of the said period of 30 days, if he is satisfied that the […]
Acceptance of Deposit Section 73 to 76 of the Companies Act 2013 read with Companies (Acceptance of Deposit) Rules, 2014:- As companies Act 2013, “Deposit” includes any receipt of money by way of deposit or loan or in any other form, by a company, but does not include such categories of amount as may be […]
The new Income Tax portal introduced by the Ministry of Finance from June 07, 2021 has been subject to various glitches since it’s inception and the stakeholders are facing problem on regular basis. Also, the proceedings under Income Tax are now managed electronically and the same has been made accessible at the new portal under […]
INTRODUCTION The Covid’19 Pandemic has impacted businesses, financial markets and economies all over the world. In India, the Micro, Small and Medium Enterprises (MSME) Sector is the backbone of the national economic Structure. MSME contributes around 6.11% of the manufacturing GDP and 24.63% of the GDP from service activities as well as 33.4% of India’s […]
