GST Rate on Services as Recommended by The GST Council in Its 37th Meeting The 37th GST Council met in Goa today under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman. The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Chief […]
GST Rate on Goods as Recommended by The GST Council in Its 37th Meeting- GST rates reduction a. 18% to 12% on parts of Slide Fasteners b. 18% to 5% on Marine Fuel 0.5% (FO) c. 12% to 5% on Wet Grinders(consisting stone as a grinder)
Standard Operating Procedure for Acceptance of Transport Related Information in Electronic Form The Ministry of Road Transport & Highways has issued detailed SOP (Standard Operating Procedure) for acceptance of Driving Licence, Registration Certificate and other transport related information presented in electronic form. The Central Motor Vehicles Rules were amended by the Ministry in November 2018, […]
No Registration of Property under projects which requires registration with MahaRERA till registration of project As per the Govt of Maharashtra notification dated 20th Sept, 2019, agreement for sale of any apartments will be done only if the project is registered or exempted from registration. In other words, the Agreement in respect of unregistered projects […]
The income from non-members was offered to tax by assessee, whereas membership fee from its own members was claimed as exempt on the principle of mutuality. Assessee being a trade association of software industries, it’s main object is to promote and protect the interest of its members. Membership received from its own members came within the principle of mutuality. Once assessee is governed by principle of mutuality, even if there are difference class of members, some of whom are not entitled to vote, the club would not be cease to be governed by principle of mutuality.
Order under section 143(1) denying benefit of exemption under section 11 in case of granting of deemed registration by CIT after expiry of time limit of six months was contrary to the legal principles and thus, rejection of assessee’s application for rectification under section 154 was invalid.
Edelweiss Asset Reconstruction Company Limited Vs Sachet Infrastructure Pvt. Ltd. (National Anti-Profiteering Authority) In these appeals as common order dated 7th March, 2019 passed by the Adjudicating Authority (National Company Law Tribunal), Special Bench, New Delhi, is under challenge and common question of law is involved, they were heard together and are disposed of by […]
M/s Tecnimont Pvt. Ltd. Vs State of Punjab & Others (Supreme Court) In this case Supreme Court reversed the decision of Punjab and Haryana High Court in the case of PSPCL ltd Vs state of Punjab wherein the HC had held that appellate authority can in appropriate cases reduce or waive 25% of pre-deposit u/s […]
Considering the requests of various Members of ICAI, it has been decided by Professional Development Committee to extend the last date for submission of online Multipurpose Empanelment Form for the year 2019-20 till 30th September, 2019. The last date for submission of Declaration is 30th September, 2019.
Corporate tax rates slashed to 22% for domestic companies and 15% for new domestic manufacturing companies and other fiscal reliefs The Government has brought in the Taxation Laws (Amendment) Ordinance 2019 to make certain amendments in the Income-tax Act 1961 and the Finance (No. 2) Act 2019. This was announced by the Union Minister for […]
