INTRODUCTION In this article will study about Meaning of Input Tax Credit, Conditions for Eligible Input Tax Credit, What is Block Input Tax Credit, Items which are not allowed to take credit, and finally Author’s View What is ITC? Input Tax Credit Mechanism is available to you when you are registered as a Taxpayer under […]
It has been a debate more than just a confusion on deciding the place where GST registration is to be obtained for renting of immovable property and supply of works contract services. Everyone has their own opinion in this regard. Let’s have a look at my opinion as well (Author’s intention is certainly not to […]
It is proposed to introduce Instant Bank Account Verification in the interest of underlying Subscribers for orderly processing of their exit requests. The following guidelines are issued for facilitating timely transfer of withdrawal amount in the Bank Account of APY Subscribers and also as an additional due diligence to protect their corpus lying in the Permanent Retirement Account Number (PRAN). There could be two scenarios at the time of exit which are explained as under:
Maharashtra Government notifies Draft Maharashtra Code on Wages Rules, 2021 -Inviting suggestions within 45 days on rules. Rules proposes supersession of Maharashtra Minimum Wages Rules, 1963 and the Maharashtra Payment of Wages Rules, 1963. By order and in the name of the Governor of Maharashtra, S. M. SATHE, Joint Secretary to Government. INDUSTRIES, ENERGY AND […]
Important Q & A under Real Estate (Regulation & Development) Act 2016 – RERA Act – Registration of Project under RERA 1. What are various aspects covered under RERA? a. The RERA Act 2016 covers various aspects of the Real Estate business i. Separate Authority to Regulate the Real Estate Industry ii. Activities regulated under […]
What should be the classification and GST rate on Supply of Solar water pumping system as a whole comprising of goods (Solar Panel + Solar Controller + Solar Pump + Structure) along with the installation of Solar water pumping system for drinking water application? The proposed supply comprising of Solar Panel. Solar Controller. Solar Pump, Structure along with the installation shall attract GST @18% under S. No. 3 of Heading 9954 (ii) of Notification No. 11/2017. dated 28.06.2017.
current petition has been filed against the notices issued by Dy. Commissioner (State Tax) Circle – Anti Evasion & Anr. (Respondent) which treated the beverage ‘Appy Fizz’ as a non-alcoholic beverage under the heading of 2202 99 90 making it liable to 18% Goods and Services Tax (GST).
We are covering volume 2 of Niti Aayog’s publication of “National monetization pipeline volume II: Asset pipeline” which actually clarifies the source of monetization from various departments or corporates, the indicative monetization value and the process of doing them. Let us look at the publication from the website: https://www.niti.gov.in/sites/default/files/2021-08/Vol_2_NATIONAL_MONETISATION_PIPELINE_23_Aug_2021.pdf Contained over 114 pages, the publication […]
In re BEML Limited (GST AAAR Karnataka) In the instant case, there is no doubt that there are multiple supplies of both goods and services being undertaken as part of this contract. While the supply from Cost Centre C is a supply of goods i.e the Standard Gauge Intermediate Cars, the supply by Cost Centre […]
As per section 62(1) of the Companies Act, 2013: Where at any time, a company having a share capital proposes to increase its subscribed capital by the issue of further shares, such shares shall be offered, to persons who, at the date of the offer, are holders of equity shares of the company in proportion, […]
