GST Departmental Audit – Parameters For Selection, Documents That Can Be Asked For And Proactive Steps To Be Undertaken GST has been one of the biggest tax reforms of our country. July 2021 marked four years of GST Implementation and though it has stabilized to a large extent, the taxpayers are still grappling with some […]
Audit of accounts of certain persons carrying on business or profession. 44AB. Every person – (a) carrying on business shall, > if his total sales, turnover or gross receipts, > as the case may be, > in business exceed or exceeds > one crore rupees in any previous year Following proviso is inserted after clause […]
Bansiwala Iron & Steel Rolling Mills Vs DCIT (ITAT Jaipur) Since the A.O. is a quasi-judicial authority, who has to collect the evidences, material and then to adjudicate the matter after due and complete application of mind. The A.O. expected to record his own satisfaction before reaching to any conclusion. In our view, the A.O. […]
In Kalani Infrastructure Pvt. Ltd., Kota (Raj) (2021) 35 J.K.Jain’s GST & VR 151, Hostel Accommodation Service with Food etc. was held to be the “Mixed Supply” by the Hon’ble Appellate Advance Rulings authority. Whereas in the case of Symmetric Infrastructure Pvt. Ltd., Kota, (Raj) (2021) 36 J.K.Jain’s GST & VR 226, the Coaching services […]
Analysis of the Gauhati High Court judgement holding that refund under inverted tax structure is allowed even if input and output supplies are the same Introduction The Gauhati High Court in the case of BMG Informatics Pvt. Ltd. v. Union of India and Others (Judgement dated 02.09.2021 in Case No. WP(C)/3878/2021) has held that refund under […]
Explore important judicial precedents on income tax aspects in India. Learn about the case of Ashwani Kumar v. Income-tax Officer and its impact on Section 222 of the Income Tax Act, 1961.
INTRODUCTION: The object of enactment of every legislation is concentrated at “JUSTICE” and the same can be achieved by providing a set of remedies that may be effectuated the person aggrieved under it. The Real Estate (Regulation and Development) Act, 2016 (hereinafter referred to as “Act”) in commencment since 1st May 2017, is one such […]
To further strengthen the Corporate Governance and in the light of digitalisation, Rule 9A of the Companies (Prospectus and Allotment of Securities) Rules, 2014 was brought into force over the Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2018 through MCA Notification dtd. 10th September, 2018 which made compulsory issue of securities in dematerialised form by Unlisted Public Companies effective from 2nd October, 2018.
FORMATION OF LLP IN DUBAI, UAE A. Eligibility Criteria:- 1. Partners: Minimum 2 and Maximum 50. 2. Foreign Contribution: Cannot exceed 49%. (in other words, you are required to have 51% stake of residents of Dubai) 3. Profit & Loss Distribution: Allowable as per Mutual Agreement of the Partners. 4. Management: Can be vested in […]
Do you know India possess the largest arable area in the world followed by United States, Russia, China, and Brazil. Responsible for providing livelihood to over 58% of the population and 44% workforce to the country, the sector has remained dominant for the longest time. With the sector’s immense contribution it is often considered to be […]
