"04 September 2022" Archive

GST Law Making Powers in the Constitution of India

Provisions of the Constitution, which are directly, or indirectly related with goods and services tax law making powers of Parliament, the Legislatures of the States and Union territories with Legislature, run as follows:- 1. Article 366(12) of the Constitution, which defines word ‘goods’, runs as follows:- “(12) “good...

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Maternity Benefit available to a woman in India

Maternity Benefits means, Benefits which are provided by an establishment to their pregnant female employees before and after child delivery for certain period....

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Not declaring swimming pools to avoid tax in France – Al to Detect Swimming Pools

Property tax in France is based on the rental value of the property and any addition to the property like permanent (not temporary) has to be declared before tax authorities within 90 days, since property tax is based on rental value, so any improvement will increase the rental value of property resulting in increased property tax....

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GST: Interest leviable despite Availability of Credit in Cash/Credit Ledgers if No Payment was Made

India Yamaha Motor [P] Ltd Vs. the Assistant Commissioner &

HC ruled that in a case where tax has not been remitted, interest U/s. 50 of the GST Acts is leviable even if the tax payer has adequate credit in his cash ledger or credit ledger. In essence, credit cannot be equated with cash remittances....

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Future & Options (F&O) Accounting, Audit and Taxation

Share trading and, Derivative trading (F & O trading) is normal now a days. You will not believe nearly 14.3 million new investors added by the depositories in the year ended 31 march 2021. Further, we cannot deny the role of digitalization and platforms available to invest in stock and derivative market. Most of people […]...

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Excel Utility to Import GSTR Json’s to Tally

In the daily routines of Practicing chartered accountants and part-time accountants one of the duties is to post entries to the tally software which later prepares and files GST-returns  However, there are times where GSTR-1 is being filed first and posted entries into the tally software later due to time constraints or accountants want ...

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GST on Cheque dishonour charges, Salary Forfeiture, Late payment fee & Cancellation charges

CBIC issued Circular No. 178/10/2022-GST 03rd of August, 2022 discussing taxability of few transactions in greater detail, the impact of which needs to be taken into consideration. This article discusses GST on Cheque dishonour fine/ penalty / Charges, GST on Forfeiture of salary or payment of bond amount in the event of the employee leav...

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Independent Director – Work, Duties, Benefit & Compulsion

Independent Directors refers to board members, not organization, helps share a neutral opinion as they are not attached to existing management...

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GSTR-3B – अगस्त 2022 से परिवर्तन–17(5) में प्रतिबंधित क्रेडिट के सम्बन्ध में

अगस्त 2022 माह में GSTR-3B रिटर्न में जीएसटी अन्य परिवर्तनों के साथ सबसे महत्वपूर्ण परिवर्तन  जीएसटी कानून की धारा 17 (5) में प्रतिबंधित इन...

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September 2022