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Archive: 27 April 2022

Posts in 27 April 2022

GST Refund in case of Input Services

April 27, 2022 25614 Views 2 comments Print

GST Refund is only available if it is the case of zero rated supply or in case rate of tax on input is higher than the rate of output supply. The term used in the second case is Input and not Input services. This means, that by this section no refund of input services can be made when rate of of tax on input services is higher than the rate of tax on output supply of goods or services or both.

Compliance & Reporting CSR-2 | A Step Towards Corporate Governance

April 27, 2022 4863 Views 0 comment Print

To bring in a change and upgrade the concept of consistent growth of CSR so as to align it with the sustainable development and transparency, MCA vide its notification dated February 11, 2022, has introduced a new reporting which highlights the compulsion for the firms who come under the purview of the provision of Section 135(1) of Companies Act, 2013, for filing of Form CSR-2.

Deemed rent concept not applies to property held as stock-in-trade

April 27, 2022 6246 Views 0 comment Print

If property is used as stock-in-trade, then it would become and partake character of stock and any income derived from stock would be ‘income from business’ and not ‘income from house prperty.

Notification of IIM Jammu for admission in Ph.D. for CA Members

April 27, 2022 1545 Views 0 comment Print

We would like to inform that IIM Jammu is inviting applications for Doctoral Programme (Full Time/Part Time) at special eligibility criteria to Chartered Accountants across the country. This Ph. D. Programme will develop the skillset to identify complex issues in the field of management and promote research in the fields of accounting, auditing, monetary policies […]

Framework for FinTech Entity in IFSCs

April 27, 2022 2073 Views 0 comment Print

This framework shall apply to all eligible Domestic or Foreign entities, desirous of obtaining authorization as FinTech Entity (FE) from International Financial Services Centres Authority (IFSCA), for participating in or undertaking one or more of the permissible activities under this framework.

Format of Initial & Annual Disclosure to be made by an entity identified as a ‘Large Corporate’

April 27, 2022 25401 Views 2 comments Print

Companies which are identified as Large Corporate under above mentioned SEBI Circular are required to file the Initial Disclosure through Annexure A as well as Annual Disclosure through Annexure B1 for Financial Year 2020 and 2021.

Jharkhand  HC grants interim protection from GST payment on mining royalty & allied charges

April 27, 2022 2457 Views 0 comment Print

Mandhan Minerals Corporation Vs Union of India (Jharkhand High Court) HC considered the submissions of learned counsel for the parties on the prayer for interim relief on the levy of GST on royalty /DMF. On consideration of the rival pleas in the canvass of facts and the legal propositions advanced by them, it is clear […]

Hospital not a charitable entity if it collects fees from patients who can afford 

April 27, 2022 5130 Views 1 comment Print

Institute of Franciscan Missionaries of Mary Vs Commissioner (Madras High Court) Merely because the petitioner is having certain out reach programmes which may be charitable in nature or that a section of patients are given free treatment would not automatically render the petitioner a charitable hospital. It would not mean that an exemption from payment […]

NFAC to be represented through jurisdictional PCIT

April 27, 2022 1317 Views 0 comment Print

Ashtnidhi Developers Vs National Faceless Assessment Centre Delhi (Bombay High Court) If NFAC is a party respondent, the cause title will state NFAC c/o. concerned Principal Commissioner of Income Tax and that Principal Commissioner of Income Tax shall accept service on behalf of NFAC. FULL TEXT OF THE JUDGMENT/ORDER OF BOMBAY HIGH COURT 1] Ms […]

CSEET passed students registering in Executive Programme can also register for ICSI classes

April 27, 2022 321 Views 0 comment Print

CSEET passed Students can now register for the ICSI classes for Executive Programme at the time of Executive Programme Registration. They can opt for the classes being conducted at their nearest Regional/Chapter Office as per their Choice at the time of Executive Programme registration.

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