A business loan is a highly effective credit product availed by entrepreneurs for establishing and expanding their business. Business loans are usually secured loans and hence borrowers are required to pledge collaterals while availing a small business loan. Nowadays, with increasing financial institutions and online loan providers, availing a business loan has become far more […]
Where assessee’s main objects were acquiring, constructing, operating and maintaining of multiplexes, business centres, etc., income derived from such activities was to be treated as business income and not income from house property.
CBIC issues 9 GST Circulars on 11th October 2019 i.e. Circular No. 113/32/2019-GST to Circular No. 121/40/2019-GST. Vide these Circulars CBIC has clarified various issues related to GST which includes Clarification regarding GST rates & classification of Goods , Scope of support services to exploration, mining or drilling of petroleum crude or natural gas or […]
he CGST, Audit – I Commissionerate, New Delhi, proposes to prepare a panel of Chartered Accountants and Cost Accountants so as to nominate them to conduct special audit of accounts of Central Excise, Service Tax and GST as envisaged under the said Section.
Mere non quoting of the reasons for reopening by AO in the impugned notice would not vitiate the entire proceedings. Department had to furnish the reasons to assessee and on receipt of the reasons, if assessee were of the opinion that there were no additional material or new materials were available then they could submit their objections in respect of the change of opinion or reason to believe.
The online processing of refund applications and single authority disbursement has been implemented on GST Portal w.e.f. 26th September, 2019. The taxpayers are advised to take note of the following changes: 1. Filing Refund application in Form GST RFD 01: Refund applications will be filed by the taxpayers in Form GST RFD-01 and the same will be […]
Circular No. 121/40/2019-GST- CBIC clarifies that service by way of grant of alcoholic liquor licence, against consideration in the form of licence fee or application fee or by whatever name it is called, by State Government is neither a supply of goods nor a supply of service. this special dispensation applies only to supply of […]
CBIC Clarification on the effective date of explanation inserted in notification No. 11/2017- CTR dated 28.06.2017, Sr. No. 3(vi) vide Circular No. 120/39/2019- GST Dated: 11th October 2019.
CBIC clarification on whether supply of securities under Securities Lending Scheme, 1997 by the lender is taxable under GST vide Circular No. 119/38/2019-GST Dated: 11th October 2019.
CBIC clarification on determination of place of supply in case of supply of software/design services by a supplier located in taxable territory to a service recipient located in nontaxable territory by using the sample hardware kits provided by the service recipient vide Circular No. 118/37/2019-GST Dated: 11th October 2019.
