The intermediary service has been a controversial subject in cross border trade, since the days of Service Tax. The foremost controversy is on the outbound leg, as in if the services qualify as ‘intermediary services’, the place of supply becomes ‘the location of supplier of services’, and therefore ousting the services from the purview of […]
CBIC tweeted on 22.09.2021 as follows:- GST Update on difficulty in updation of Electronic Cash Ledger on 20.09.2021 A few taxpayers have reportedly faced difficulty in the updation of their Electronic Cash Ledger on September 20, 2021 while filing their GSTR-3B returns. To mitigate their difficulties, GSTN has been directed to take up the issue […]
Introduction: Section 132 of the Income Tax Act’ 1961 prescribes that the competent authorities are empowered to permit the authorized officers to enter, search, break open, seize, place marks of identification and take other steps as contemplated under sub-clauses (i) to (v). However, such powers can be exercised against a person upon fulfilment of certain […]
Wieland Metals India Private Ltd. Vs ITO (ITAT bangalore) Issue before us is with regard to TP adjustment by applying TNMM by the TPO instead of CUP method adopted by the assessee as most appropriate method in respect of determining of ALP of manufacturing segment. As seen from the details of international transactions, the assessee […]
Babu Khan Vs State of Rajasthan (Rajasthan High Court) In Babu Khan v. State of Rajasthan and Ors. there were a total of 121 Writ Petitions filed by the Liquor Vendors seeking waivers on the annual guarantee fee and tax relief for the second wave time period of COVID-19. In the case, the Petitioners contended […]
Clarification on Tax Audit requirement for the persons whose turnover does not exceed 10 Crore Section 44AB Every person carrying on business, whose turnover does not exceed Rs. 10 Crore, is not required to get their books of accounts audited subject to following conditions: a. Aggregate of all amount received including amount received for sales, […]
No Interest Proceedings Can Be Invoked On Ineligible Input Tax Credit Availed But Not Utilized In GST Returns Recent 45th GST Council meeting has put logical end in relation to demand of interest on availment of Ineligible Input Tax Credit but not utilized in GST Returns. Generally, availment of Ineligible Input tax credit can arise […]
Introduction On historic day of 1st July 2017, GST was introduced by pressing the bell by then President and Finance Minister, the person who plays key role even in roots of GST honorable Late Shri Pranab Mukherjee, along with the prime minister of India. The very basis of GST was to remove the cascading effect […]
Here are the following important points to be remember under RERA, 2016 GENERAL PROVISIONS 1. No promoter shall start dealings related to the real estate project without registering the project with RERA. 2. Exemption from registration if: i. Area of land to be developed is less than or equal to 500 sq. mtr. OR Apartments […]
How many of you are wondering what are the best career opportunities after B.Com? What are the best courses according to B.Com? How do you achieve the best career after BCom? Bachelor of Commerce or B.Com is one of the most popular degree programs that students follow after graduation. Today and in old age, a […]
