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Archive: 09 January 2023

Posts in 09 January 2023

RCM on renting of motor vehicle under GST

January 9, 2023 107784 Views 2 comments Print

Gain insights into the Reverse Charge Mechanism (RCM) implications on renting motor vehicles under GST. Understand the definition of motor vehicles, recent amendments to notifications, and the nuances of RCM in the context of renting motor vehicles designed for passenger use. Explore the flowchart illustrating the complexities of these transactions and address common questions on GST rates, registration requirements, and more.

Global Minimum Tax & BEPS – Work in fast track

January 9, 2023 1317 Views 0 comment Print

Dive into the latest developments on the Global Minimum Tax and BEPS as the international community progresses swiftly in implementing the two-pillar solution. Explore the OECD’s public consultations on Pillar One’s Digital Services Taxes and compliance aspects of Pillar Two. Understand the draft Multilateral Convention provisions aimed at removing existing DSTs and achieving stability in the international tax architecture.

Filing of Forms GNL-2 & MGT-14 In Physical Mode

January 9, 2023 7635 Views 0 comment Print

Filing of Forms GNL-2 (filing of prospectus related documents) and MGT-14 (filing of Resolutions relating to prospectus related documents) due to migration from V2 Version to V3 Version in MCA 21 Portal from 7th January, 2023 to 22nd January, 2023

48th GST Council: Hits and Misses

January 9, 2023 2172 Views 0 comment Print

Explore the highlights and impacts of the 48th GST Council meeting held virtually on December 17, 2022. Delve into key recommendations, including the reduction of GST on biofuel, clarifications on RuPay transactions, and the groundbreaking move to decriminalize certain GST offences. Uncover missed discussions on crucial issues, such as the establishment of an Appellate Tribunal and the tax rates on new technologies and products. Stay informed on the evolving landscape of GST regulations and reforms for businesses and consumers alike.

UAE Federal Decree-Law

January 9, 2023 2196 Views 0 comment Print

After more than 50 years of inception UAE has decided to implement Corporate Tax in the UAE with effect from 1 June 2023 and as a first step recently the government has issues the Federal Decree-Law,

Online process to file GST returns effectively and quickly

January 9, 2023 3279 Views 0 comment Print

GST has made the tax return filing procedure simple by merging the information about the products and services of the sellers and customers under one head. The GST Council and the Finance Ministry developed the GSTN (Goods and Services Tax Network), a system where taxpayers are required to record all information on invoices, purchases, sales, dates, and locations. This provides a convenient platform for GST-registered taxpayers to connect and file the GST return form, claim ITC, and so on.

Need of Cost & Management Accounting & Role in providing healthcare services at affordable prices

January 9, 2023 2073 Views 0 comment Print

Discover the crucial role of Cost & Management Accounting in delivering affordable and quality healthcare services. Uncover the need for cost reform in the healthcare sector, exploring the challenges and benefits. Explore the impact of India’s largest health insurance scheme, ABPM-JAY, and the importance of effective cost management in achieving equitable healthcare for all.

Future of Virtual Currency V/s Physical Currency

January 9, 2023 5541 Views 0 comment Print

Explore the evolving landscape of currency with Puneet Motwani. Delve into the comparison of virtual and physical currency, the rise of digital payment systems, and India’s innovative move with E-Rupee. Uncover the nuances of Central Bank Digital Currencies, benefits, and the potential future impact on financial ecosystems. Stay ahead in the dynamic world of digital and traditional currencies.

Equity Shares With Differential Rights

January 9, 2023 20013 Views 0 comment Print

Dive into the realm of equity shares with differential rights under the Companies Act, 2013. Explore the nuances of voting rights, dividend differentiations, and other unique features. Learn the scope, regulations, and key considerations for issuing equity share capital with differential rights. Stay informed to make sound financial decisions in the corporate landscape

Penalty u/s 271AAB not imposable in absence of specific charge

January 9, 2023 912 Views 0 comment Print

ITAT Kolkata held the levy of penalty under section 271AAB of the Income Tax Act without specifying the charge on which the same is imposable is unsustainable in law.

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