New Income Tax rules: PAN, Aadhaar mandatory for cash deposits or withdrawals above Rs 20 lakh. Stay compliant with the latest regulations.
In India, the underlying idea behind the scheme of APA is to make tax administration better and efficient by encouraging taxpayers to provide all the data essential for a comprehensive transfer pricing analysis and to motivate them towards engaging a mutual agreement.
Finance Act, 2022 has brought new Income Tax return filing facility to be known as ‘Updated Return’. For this purpose a new sub section 8(A) has been added to section 139 of the Income Tax Act (w.e.f. 01.04.2022). Simultaneously, a new Rule 12AC has also been inserted in the Income Tax Rules, wherein form and manner of filing updated return has been prescribed.
In this write-up, I will discuss, firstly, how infringement on a digital platform has created concerns for the creators and how the DMCA provision i.e., Section 512 (c) has failed to provide compensation for the same but still has provided relief for further distribution.
In re Gujarat Rural Industries Marketing Corporation Ltd. (GST AAR Gujarat) We refer to Section 103(1) CGST Act, which stipulates that Advance Ruling shall be binding only on the applicant who had sought it and on the concerned officer/ jurisdictional officer in respect of the applicant. Section 95(a) CGST Act defines advance ruling as a […]
Whether the Applicant is liable to discharge GST under the reverse charge mechanism in respect of the services of arranging for subscription supplied to the Applicant, by the Managers located in the non-taxable territory?
In re Swadeshi Empresa Pvt. Ltd (GST AAR Gujarat) HSN Tariff of fire safety product assembled on trolley, consisting of engine operated pump, water tank, hose reel, pipe and gun, operated through electric panel on trolley. We refer to the description of the Goods which is a water mist firefighting trolley. It is an assembly […]
In re Indian Society of Critical Care Medicine (GST AAR Gujrat) Q1. What shall be the nature of service and classification in accordance with Notification No. 11/2017- CT R, dated 28.06.17 read with annexure attached to it in relation the following services: a. Service provided by ISCCM to the delegates; b. Service provided by ISCCM […]
In re Tata Advanced Systems Limited (GST AAR Gujarat) The Applicant has no locus standi to file said Advance Ruling Application, as per clause 2.2.1 of the said Contract 29-10-21, wherein the project execution unit is TASL Bengaluru GSTIN is 29AACCT5245K1ZZ. ii. The Application by the applicant is premature and without locus standi, as no […]
In Re Shell Energy India Pvt. Ltd. (GST AAR Gujarat) Issue: Whether value attributable to SUG stipulated in the Agreement between the Applicant and Customers is subject to the levy of GST and therefore, liable to be included in the consideration for re-gasification services determined as per Section 15 of the CGST Act ? Held […]
