Central Government specified a token which qualifies to be a virtual digital asset as non-fungible token within the meaning of sub-clause (a) of clause (47A) of section 2 of the Act but shall not include a non-fungible token whose transfer results in transfer of ownership of underlying tangible asset and the transfer of ownership of such underlying tangible asset is legally enforceable.
GST Council not make any recommendation to reduce GST on insurance service from 18% and on health care insurance policies from 18% to 5%.
Government has no plan to reduce the Goods and Services Tax (GST) slapped on educational material like pencil, eraser, pen, notebooks etc;
GST Council recommended that State can decide on imposition of requirement of e-Way bill for intra-state movement of gold & precious stones
CBDT amends Rule 21AK which explains Conditions for Section 10(4E) of Income Tax Act, 1961. CBDT vide Notification No. 87/2022-Income Tax | Dated: 1st August, 2022 inserted the word ‘non-deliverable forward contracts’, the words ‘or offshore derivative instruments or over-the-counter derivatives’ in the rules and explained the meaning of Derivative, non-deliverable forward contract, offshore banking unit, offshore […]
With effect from 1st October, 2022, Every registered taxable person whose aggregate annual turnover exceeds Rs. 10 Cr in any of the financial year since 2017-18 shall liable to issue E-Invoice. Earlier the limit was Rs. 20 Croroes. The registered person who is required to issue E-Invoice shall upload its’ tax invoice in json file […]
Unlock the value of Internal Auditing as a mechanism for organizational enhancement. Explore its traditional role in ensuring controls and accuracy, and delve into the modern approach of providing analysis, recommendations, and valuable insights. Discover the diverse scope covering information reliability, compliance, asset safeguarding, resource efficiency, and goal accomplishment. Elevate your business with Internal Audit’s proactive problem-solving and future-focused contributions.
The number of telecom subscribers in India has grown from 1.5 Cr in 1997 to more than 117 Cr today. This represents a phenomenal 19% CAGR over a period of 25 years. India is today the second largest telecom market in the world.
Explore the key insights from the NCLAT Judgements Compendium for September 2021 on IBC, 2016. Gain a concise overview of significant cases, including discussions on pre-existing disputes, withdrawal of funds during CIRP, and adherence to statutory timelines. Stay informed about the latest rulings and enhance your understanding of the nuances in insolvency proceedings.
Ramgopal Thirani Family Trust Vs DCIT (ITAT Kolkata) We observe that the claim of assessee is that it is a Private Beneficiary Trust and thus, it was required to file its return of income on ITR-5, but inadvertently it filed ITR-7, which is meant for charitable trust claiming exemption(s). Before ld. CIT(A), it was submitted […]
