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Archive: 30 January 2023

Posts in 30 January 2023

Free YouTube Live on The global landscape –  from market’s to trade

May 24, 2024 807 Views 0 comment Print

Join us for an insightful and dynamic YouTube Live session on “The global landscape –  from market’s to trade.” with renowned financial analyst Ankit Baid, MBA Finance. The presentation explores shifting of the global economic landscape, focusing on the decline of US dominance and the rise of China. It examines the potential decrease in global […]

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7518 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

IRDAI notifies Obligatory Cession for financial year 2023-24

January 30, 2023 1548 Views 0 comment Print

The percentage cession of the sum insured on each General Insurance Policy to be reinsured with the Indian Re-insurer(s) shall be 4% (four percent) in respect of insurance attaching during the financial year beginning from 1st April, 2023 to 31st March, 2024, except the terrorism premium and premium ceded to Nuclear pool wherein it would be made ‘NIL’. The entire Obligatory Cession is to be placed with General Insurance Corporation of India (GIC Re) only.

Analysis of Deduction in respect of certain income of Producer Companies Section 80PA

January 30, 2023 1479 Views 0 comment Print

Section 80PA of Income Tax Act, 1961 deals with deduction allowed to an eligible assessee with respect to profits and gains from his business specified in Schedule V to Act.

Cancellation, Suspension & Revocation of Registration under GST

January 30, 2023 10449 Views 0 comment Print

Cancellation of GST Registration describes that the taxpayer will no longer be a GST Registered Person and they will no longer have to pay or collect the taxes. The cancellation can be due to closure/transfer/change in the constitution of business.

Analysis of Form 13 for applying lower/Nil TDS/TCS deduction/collection

January 30, 2023 47622 Views 7 comments Print

Income Tax FORM 13 is gives option to taxpayers to avail benefit of lower/nil deduction of taxes on their respective income which is liable for TDS as well as lower or No TCS in regard to transaction covered under Section 206C

When & How to Strike Off Name of LLP from Register of LLPs

January 30, 2023 2736 Views 0 comment Print

An application is required to be made in E-Form 24 to Registrar of Companies for striking off name of the LLP with consent of all partners

GST search, seizure- HC dismisses writ – validity of panchnama under consideration – efficacious remedy

January 30, 2023 1851 Views 0 comment Print

Ashoo Road Lines Vs Union of India (Madhya Pradesh HC) HC held that Since a show cause notice dated 04.12.2020 has been issued to the petitioner and others in which the validity of the panchnama is under consideration, hence the petitioner is having efficacious remedy to contest the show cause notice before the adjudicating authority. […]

Ex-parte assessment order passed in violation of principles of natural justice entails civil consequences

January 30, 2023 1533 Views 0 comment Print

HC quashed ex-parte assessment order rejecting ITC claim & imposing tax as it was passed in violation of principles of natural justice

GST on development rights: Same war, different weapon

January 30, 2023 2175 Views 0 comment Print

Unravel the complexities of GST on development rights with a critical analysis. Explore the debate on the taxability of the transfer of development rights, dissecting joint development agreements. Learn how to minimize the impact of GST and segregate consideration between development rights and land sale. Dive into the intricacies of the tax landscape for a comprehensive understanding.

Classification of Services Under GST Law – A Problematic Lack of Objectivity

January 30, 2023 4815 Views 0 comment Print

Explore the challenges in the classification of services under GST law with a critical analysis of the Calcutta High Court decision. This paper delves into the lack of objectivity in the classification tests, examining real-life cases and disputes, and suggests the need for more specific criteria for accurate classification. Understand the implications and complexities in service categorization for better compliance.

BSE Circular mandating XBRL filing of announcement by listed companies

January 30, 2023 15897 Views 0 comment Print

Stay compliant with BSEs circular mandating XBRL filing for listed companies. Effective from January 28, 2023, disclosures under SEBI LODR Regulations, including Board Meeting intimations and outcomes, must be submitted in XBRL format. Understand the transition process and benefits for streamlined compliance.

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