GSTR-1 enhancements & improvements : 1. The statement of outward supplies in FORM GSTR-1 is to be furnished by all normal taxpayers on a monthly or quarterly basis, as applicable. Quarterly GSTR-1 filers have also been provided with an optionalInvoice Furnishing Facility (IFF) for reporting their outward supplies to registered persons (B2B supplies) in the […]
Section 47 of Income Tax Act, 1961 deals with transfers which are not regarded as transfer under Income Tax and vide Notification No. 46/2022-Income Tax | Dated: 27th April, 2022 notified list of 150 Countries for clauses (viiac) and (viiad) of section 47 of the Income-tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD […]
it is informed that the transition period for mandatory filing of applications for Non-Preferential Certificate of Origin through the e-CoO Platform has been further extended till 01st August 2022.
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.
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.
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.
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 […]
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.
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.
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 […]
