GST Council Meeting 1- 45 An over View And outcome of The Meeting (In Descending order) Two major food delivery apps namely Zomato and Swiggy are now required to pay GST with effect from 1st January 2022 as per the final decision and suggestion from the fitment committee. The time till January 2022 has been […]
Since the inception of GST, input tax credit has been the biggest roadblock in order to ensure that GST has smoothen the business operations and has eased the compliance burden on the industry. Various amendments, reforms and clarifications have been issued on the said subject matter wherein major issues have been duly taken up and […]
With the aim to simplify the process for post reporting in case of export of certain chemicals under SCOMET list and to reduce the compliance burden on exporters, a draft policy on General Authorization for Export of Chemicals and related equipment (Excluding Software and Technology) is proposed. The same is being circulated for the public/Industry comments and feedback.
MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 27th October, 2021 Notification No. 13/2021-Integrated Tax (Rate) G.S.R. 764(E).— In exercise of the powers conferred by sub-section (1) of section 5 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017) read with sub-section (5) of section 15 of the Central Goods […]
Import of crushed and de-oiled GM soya cake – Relaxation in applicability of provision in Para 6 (b) of General Notes Regarding Import Policy Schedule — I (Imports) of the ITC(HS) 2017, Schedule [(Import Policy)-reg
The word ‘per unit of accommodation’ should be understood as per general practice adopted by large number of service provider in similar business model. In hotels, generally it fixes per room, per suit whereas in hostels, inns and dharmshalas, it fixes per room, per bed, per seat and per person. From the facts mentioned by the appellant, it would emerge that they provides accommodation service in hostel and fix the tariff on the basis of hostel seat, therefore, we agreed the contention of appellant and finds that hostel seat should be considered as a unit of accommodation.
Festive season generally coincides with developers and banks offering many beneficial schemes for home buyer. So if you are anyway planning to buy a house, this festive season is best time to go for it. In addition to the regular tax benefits which you anyway get on home loans under the tax laws, you can […]
WHAT IS A FAKE INVOICE? Though, Fake Invoice is not defined under Goods & Services Tax Act, 2017. But in general, Fake Invoice refers to an Invoice which does not comply with the provisions of the Act and Rules. In simple terms, When a registered person issues a Tax Invoice without actual supply of goods […]
INTRODUCTION There are different ways in which one can share good fortune with others in an organized and enduring manner and receive legal protection as well as tax benefits. The most of common structures for providing social benefit i.e. Non-Profit Organization in India are Trust, Society and Section 8 Companies. Any organization donating its funds […]
How to repatriate the amount from NRO account to NRE account in compliance with Income tax Act, 1961 and Foreign exchange management Act, 1999? 1. Whether a resident relative (Father) can deposit money in his son’s Account? Yes, a resident relative (father) can deposit money. 2. What would be tax implication in respect of question […]
