Amendment of the Income-tax Rules, 1962 to prescribe manner relating to option under section 115BAC and 115BAD, and that of determination of depreciation under section 115BAA to 115BAD, of the Income-tax Act, 1961 CBDT vide Notification No. 82/2020-Income Tax notifies changes in Form 3CD, Form No 3CEB and ITR6. It amended Rule 5 of Income […]
Special procedure for issuance of E-invoice till 31.10.2020- The Government has notified special procedure under Sec 148 of CGST Act 2017 to the registered persons who have prepared tax invoice in a manner other than the manner specified under sub-rule (4) of rule 48 of the CGST Rules 2017. As per this special procedure , […]
The issue under consideration is whether service tax is applicable on income received from screening of movies for the annual film festival?
The issue under consideration is whether the advance to the seller of flat prior to the date of sale of old capital asset will be eligible for claiming deduction u/s 54 under capital gains?
It has been decided to extend the timeline for submission of the Undertaking cum Indemnity bond by the TM / CM for all the bank accounts by a period of one month i.e. till October 31, 2020.
In line with the same, discretion needs to be provided to valuation agencies engaged by AMCs/AMFI for recognition of default in case proposal of restructuring of debt is solely due to COVID-19 related stress. For the said purpose, any proposal of restructuring received by Debenture Trustees shall be communicated to investors immediately.
Jumbo Bags Ltd. Vs Deputy Commissioner (Madras High Court) The issue under consideration is whether demand or recovery notice passed against the judgement delivered by the apex court is justified law? In the instant case, the petitioner claimed exemption from payment of duty against the sales effected by them against the Domestic Tariff Area (DTA) […]
Goldman Sachs Services Vs Commissioner Of Central Tax (CESTAT Bangalore) Facts- Employees of overseas group companies have come on secondment to the assessee. The assessee has entered into separate employment contract with the seconded personnel and employer-employee relationship exists between the assessee and the seconded personnel. It is alleged that the activity falls under Business […]
CBIC extends exemptions on supply Services by way of transportation of goods by an aircraft from customs station of clearance in India to a place outside India and Services by way of transportation of goods by a vessel from customs station of clearance in India to a place outside India under CGST Act till 30th […]
The Government had in December 2019 prescribed that the GST Taxpayers having aggregate annual turnover more than Rs. 100 crores in any preceding Financial Year will be required to issue e-invoice for all the Business to Business (B2B) supplies, in the manner prescribed under rule 48(4) of the CGST Rules, 2017 w.e.f. 1st April 2020.
