1. ‘Advantages’ of the ODIs (i) Increases in the exports of plant, machinery, goods and Services from India (ii) Increases in foreign exchange earnings through receipt of dividend, royalty and technical Known how fee 2. ‘Guidelines’ for the ODIs Guidelines’ for the ODIs are available through followings Regulations, notifications etc. (i) Foreign Exchange Management (Transfer […]
Md Faruk Alam Vs State of Assam (Gauhati High Court) In accordance with the order dated 30.9.2021, Mr. Sarma, learned Additional Public Prosecutor as well as Mr. M. Phukan, learned Public Prosecutor, has interaction with one Assistant Commissioner of GST, and after interaction and verification of the relevant GST Portal, the GST papers furnished by […]
(1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2022. (2) They shall come into force on the date of their publication in the Official Gazette.
In re Amneal Pharmaceuticals Pvt. Ltd. (GST AAAR Gujarat) Question: Whether the applicant is liable to pay GST on recovery of Notice Pay from the employees who are leaving the company without completing the notice period as specified in the Appointment Letter issued as per the contract entered between Employer and the Employee?” Answer: AAAR […]
It is noticed that there is a lack of basic knowledge of law w.r.t. existing laws which are applicable and which are applied in the registration for GST. The following steps shall be followed by the various Jurisdictional Commissionerate prior to the staffing and delegation of work relating to GST Registration:
This problem of Cash burn is a major one in case of businesses, especially in the new businesses, also known as Start-ups. The Cash burn is simply put, as how much cash is put in the business to keep it running. The Cash burn is a major problem, because lot of business revenue is generated […]
Crypto has become a parallel currency, allowing transfer of value held in digital wallet, from one person to another, without going through a central authority or bank and to allow the digital asset, as consideration for purchase of goods and services. This maxim, is most relevant to the context we discuss herein, as we understand the implications of GST on supply of such digital assets.
The Budget for infrastructure, connectivity and vision but lacks growth-invigorating proposals. A budget with big hopes for streamlining the GST Law, GST Rate balancing but received only Retrospective amendments. Budget for scrapping self-assessment for availing Input Tax Credit (ITC), ending constitutional right under self-assessment to assess GST. Lets have a look at the Amendments in […]
Mov and Go Logistics Vs Commissioner of Customs (CESTAT Chennai) It is the case of the Revenue that on examination of the shipping bills filed online by M/s. Mov and Go Logistics, Customs Broker (appellant herein) on behalf of the exporters, it is found that the appellant had furnished wrong Rotation number for the shipping […]
Sameer Granites Pvt.Ltd. Vs ACIT (ITAT Bangalore) In the instant case, the assessee had submitted that the orders passed u/s 200A of the Act were never served on the assessee physically or otherwise. It was stated that intimation u/s 200A downloaded from the office of the Assessing Officer by the Tax Professional, was not communicated […]
