Let’s treat cryptocurrency as a normal stock, trading in an exchange…What factor makes the prices of the stock go up and down? There’s just one- Demand & Supply. If a stock is in Demand that is the number of people with positive sentiments (interested in buying) is more than the number of people with negative […]
Refund in case of inverted tax structure where input and output are same is allowed under Section 54(3)(ii) as given in Judgement by Gauhati High Court in the case of BMG Informatics Pvt Ltd Vs Union of India Facts of the Case: BMG Informatics Pvt. Ltd is dealing with IT system integrator and is a […]
Before analyzing the management of late fees and penalties, let’s first check the due dates. INCOME TAX DUE DATES Furnishing of Income Tax Return (ITR – Non Audit) 31/12/2021 Furnishing of Audit Report (Other than Transfer Pricing) 15/01/2022 Furnishing of Income Tax Return (ITR – Audit case and partner of auditable P’ship firm)) 15/02/2022 Furnishing […]
Introduction of DIN DIN stand for Director Identification number, this is eight digit unique number, allotted by the central government to any individual, who intend to be appointed as director or to any existing director of a company. “Director Identification Number” (DIN) includes the Designated Partnership Identification Number (DPIN) issued under section 7 of the […]
APPOINTMENT OF FIRST AUDITOR BY BOARD OF DIRECTORS: The First Auditor of a company (other than a Government Company) shall be appointed by the Board of Directors within 30 days from the date of registration/Incorporation of the company. TENURE OF FIRST AUDITOR: First auditor shall hold office till the conclusion of the First Annual General […]
Understanding the taxation implications of gratuity, pension, and retirement compensation for salaried individuals. Get clarity on the financial aspects.
Section 9(5) – GST LIABILITY – E-COMMERCE OPERATOR: CONSOLIDATED NOTIFICATION Section 9 of the Central Goods and Services Tax (CGST) Act, 2017 relating to ‘Levy and Collection’, Section 9 (5) The Government may, on the recommendations of the Council, by notification, [ Refer Notification No.17/2017] specify categories of services the tax on intra-State supplies of which […]
CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 3rd December, 2021 vide Notification No. 96/2021- Customs (N.T.) | Dated: 2nd December, 2021. Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs ***** Notification No. 96/2021 – Customs (N.T.) New Delhi, dated the […]
SIONs for export product Sodium Salicylate and Methyl Cobalamin JP (Mecobalamin) under Chemical & Allied Product Group have been notified. MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) New Delhi, the 2nd December, 2021 Public Notice No. 40/2015-20-DGFT Subject : Fixation of two new Standard Input Output Norms (SIONs) at […]
