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Archive: January, 2023

Posts in January, 2023

Health Warning on both sides of tobacco product packages covering 85% of display area

January 7, 2023 585 Views 0 comment Print

Section 7 of the Act provides for specified Health Warning on all tobacco product packs. These rules have been amended time to time, for display of specified health warning on both sides of the tobacco product packages covering 85% of the principal display area.

Implementation of E-Waste (Management) Rules, 2022

January 7, 2023 6729 Views 0 comment Print

Port and Custom Authorities have to take necessary action inter-alia to verify the import or export with respect to Extended Producer Responsibility, to Inform the Ministry and Central Pollution Control Board of any illegal traffic and take action against importer for violations under the Indian Ports Act, 1908 or the Customs Act, 1962. The duties and responsibilities of Port and Customs are prescribed in Schedule-V of the said rules.

Compensation from Goa Government for cancellation of plot is capital receipt

January 7, 2023 1149 Views 0 comment Print

Delhi High Court held that compensation received from Government of Goa on cancellation of plot is capital receipt and hence not taxable.

Post Incorporation Compliances of LLP And Closure of LLP

January 7, 2023 2928 Views 0 comment Print

Navigate post-incorporation compliances of LLP with insights on Form-3 execution, bank account opening, GST registration, DIR-3 KYC, income tax return filing, and annual filings. Learn the closure process, file Form 24, and meet the necessary requirements for LLP dissolution.

Confirming penalty for expiry of e-way bill without dealing with contention raised is bad in law

January 7, 2023 2007 Views 0 comment Print

Jharkhand High Court held that impugned order passed, confirming penalty for expiry of e-way bill, without proper application of mind and without dealing with the contention raised by the petitioner is against the violation of principles of natural justice and hence bad in law.

Tax on Distribution of assets to partners/ Retirement & Dissolution Tax on Partnership Firms

January 7, 2023 17904 Views 0 comment Print

Explore the tax implications on the distribution of assets to partners, retirement, and dissolution of partnership firms in India. Learn about the recent legislative changes, applicable sections, and the computation of income. Stay informed to navigate the complexities.

Business Valuation in India: Regulations, Requirements & Case Studies

January 7, 2023 6585 Views 1 comment Print

Explore business valuation in India, understanding regulations, requirements, and case studies. Learn about valuation methods, impact of Indian case laws, and key insights for stakeholders.

GST under RCM on fees or remuneration paid to director

January 7, 2023 167610 Views 1 comment Print

Author of this article has attempted to bring some clarity on 7aspects of the taxability & applicability of RCM on payments made to its directors by company. The author has also thrown some light on the Circular 140 issued by department.

RCM on supply of Security Services

January 7, 2023 210126 Views 1 comment Print

Understand Reverse Charge Mechanism (RCM) on the supply of security services (security personnel). Learn about tax liability, eligibility for input tax credit, and recent updates, including an Advance Ruling from Haryana AAR.

Advance Ruling cannot be given without information on Scope/types of services

January 7, 2023 1059 Views 0 comment Print

In re Divyajivan Healthcare Pvt. Ltd (GST AAR Gujarat) Whether lump-sum amount received for Health care Services to be provided for 20 years by the applicant as Diamond Plan is exempted from Goods and Services Tax as per Sr No 74 of Notification No. 12 of 2017 Central Tax? AAR find that Diamond Plan of […]

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