Man power services provided by applicant to various Central and State Government departments is liable for GST at applicable rate and is not eligible to ‘Nil’ rate of tax
Deposits means when a company are generally acquiring funds from the members or the public in the form of loan or any other form as may be prescribed, but does not include certain classes of transactions. Companies aim to secure finance by different cost-effective methods to suit their financial requirements. The legal definition of deposit […]
Status of Liability of Personal Guarantors under the Insolvency and Bankruptcy Code, 2016 (IBC 2016) The law of Insolvency and Bankruptcy has been newly harvested and on account of this, various situations arise day-in and day-out concerning different provisions of this law and their implementation which not only causes ambiguity and confusion but also demands […]
The Applicant has sought Advance Ruling to confirm the applicability of GST on Services provided by club to its members. The applicant has taken the aid of Judgment delivered by the Hon’ble Apex Court in the case of State of West Bengal v. Calcutta Club Limited in Civil Appeal No.4184 of 2009.
You might be wondering why I am saying it that there are two stock exchanges in India (BSE and NSE) however there are other stock exchanges also exists in India. But here I am talking about major Stock exchanges currently operating in India very effectively. Ever wondered if BSE was handling all the investments and […]
In GST, Section 9 of the CGST Act 2017– related to levy and collection, There are 2 types of charges under GST (1) Forward Charges (2) Reverse Charges :- (a) under reverse charge, there are two type of payments i.e. Taxable supplies provided by register person to register person (b) depend upon the nature of […]
As soon as the circular popped out for AGM Extension for 2020-21, myself as well as certain people were in dilemma & in constant confusion regarding the extension of AGM after 30.11.2021 So, I tried to throw the light upon it, Please get the same in the below paragraph. As per the Provisions of Section […]
There are different kinds of supply under GST on which requires clarity so that correct reporting can be done while filing returns. Meaning of different supply under GST is as follows:- Exempt Supply: It means supply of any goods or services or both which attracts nil rate of tax or which may be wholly exempt […]
Plugging loopholes within Section 50B governing Slump Sale Transactions : Amendments by Finance Act, 2021 This presentation would aim to simply explain what a slump-sale is and proceed to explain the concept of a slump sale in a tax perspective due to several issues faced pertaining to the tax-computation mechanism of a slump sale and […]
Background of Annual Information Statement (‘AIS’) In order to promote transparency and simplifying the tax return filing process, CBDT vide Notification dated May 28, 2020 has amended Form 26AS vide Sec 285BB of Income Tax Act, 1961 (‘Act’) read with Rule 114-I of Income Tax Rules, 1962 with effect from June 1, 2020. The new […]
