1. Introduction on the Imprisonment + Fine (both) for Corporate Fraud under Section 447 of the Companies Act, 2013 (Act). (a) Corporate frauds are increasing in India by the person(s) those are directly or indirectly connected or even not-connected to the corporate. (b) It’s required that high standards for corporate governance and strong legal provisions should […]
This Article deals with the nuances of the GST framework for Export Trade viz a viz the challenges laid down while adhering to the Accounting Standard AS 9 – Revenue Recognition and 11 – The Effects of Changes in Foreign Exchange Rates
The Government of India had launched ‘Startup India’ with the aim to generate employment and also to create wealth. Accordingly, various Schemes are being launched under the ‘Startup India’ initiative. One such scheme is ‘Support for International Patent Protection in Electronics & Information Technology’, shortly known as SIP-EIT. SIP-EIT is launched by the Ministry of […]
In re Medreich Limited (GST AAR Karnataka) AAR observed on examination of the records that the issues/questions raised by the applicant in the instant application have already been taken up by the audit team, in the case of applicant under the provisions of the CGST Act 2017. From the audit report mentioned supra it is […]
Determination of place of supply is not covered under any of the clauses (a) to (g) of Section 97(2) of the CGST Act 2017. Further, the use of term ‘shall’, is an imperative command restricting the scope of advance ruling only to the questions enumerated in the said sub-section. Thus, to answer the question relating to determination of place of supply, is beyond the scope of advance ruling. This authority, therefore, cannot answer the first question in the application.
In re Keysight Technologies India Pvt. Ltd. (GST AAR Karnataka) The Notification No.45/2017-Central Tax (Rate) dated 14.11.2017 and Notification No.45/2017-Central Tax (Rate) dated 14.11.2017 stipulates the rate of CGST / IGST @ 5%, if the goods of computer software is supplied to public funded research institutions subject to fulfillment of the conditions prescribed under column […]
Most TDS sections have a defined amount within which tax may not be deducted. This is called the ‘Threshold Limit’. However, if the cumulative amount during the year, exceeds the threshold, TDS would be applicable on the total amount.
Reliance Jio Infocomm Ltd. Vs Assistant Commissioner (CESTAT Mumbai) Department urged a new ground, which was not even part of the allegations contained in the show cause notice nor part of the findings of the Commissioner (Appeals), that the definition of input contains an exclusion clause which excludes from the ambit of inputs all goods […]
On a review, it has been decided that the guidelines on LEI stand extended to Primary (Urban) Co-operative Banks (UCBs) and Non-Banking Financial Companies (NBFCs).
The provisions of Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022 relating to credit cards shall apply to every Scheduled Bank (excluding Payments Banks, State Co-operative Banks and District Central Co-operative Banks) and all Non-Banking Financial Companies (NBFCs) operating in India.
