As stock market investors, we are beneficiaries to various corporate actions like bonus shares, rights shares and stock splits. These corporate actions are accompanied by stock price movements in short and long run affecting capital gains whenever we sell shares. As there is an effect on capital gains, tax implication also changes if we sell shares prior […]
Bonus shares are new shares issued to existing shareholders of a company. These are issued to shareholders in proportion to their current holdings. For example, the company may announce one bonus share for every share held by an investor. As the investor now holds two shares, EPS gets halved. Hence bonus share do not affect total EPS of investor.
Shri Ankur Jain Vs M/s. Kunj Lub Marketing Pvt. Ltd. (National Anti-Profiteering Authority) Conclusion: Denial benefit of the reduction in GST rate to the consumers was in contravention of the provisions of Section 171 (1) of the CGST Act, 2017; therefore, respondent-company was directed to reduce the price of the product commensurate to the reduction […]
Compilation Of GST Notifications And Circulars For 1st Year Of GST (1st July, 2017 To 30th June, 2018) by The Institute of Cost Accountants of India containing CGST Notifications, CGST Rate Notifications, IGST Notifications, IGST Rate Notifications and GST Circulars. The introduction of GST in India has been a journey in which the Government and […]
Interest expenses claimed by assessee on account of delayed deposit of TDS liability was allowable under section 37(1) as the TDS amount did not represent the tax of assessee but it was the tax of the party which had been paid by assessee.
RBI hereby issues Electronic Trading Platforms (Reserve Bank) Directions, 2018 to the entities operating Electronic Trading Platforms (ETPs) to transact trade in eligible instruments.
Consequent to the introduction of GST, a need was felt to include recovery in cases under CGST and IGST Acts under the Reward Guidelines to ensure their parity with cases booked under the Customs Act, NDPS Act, Service Tax and Central Excise References were also received in the Board to treat officers of other Government agencies, who play a role in the detection of cases, at par with CBIC officers, irrespective of the fact whether seizure has been effected by these agencies or by officials of CBIC.
Direct Tax Collections for F.Y. 2018-19 up to September, 2018 (Half-yearly figures) show that gross collections are at Rs. 5.47 lakh crore which is 16.7% higher than the gross collections for the corresponding period of last year
The Revenue Secretary, Government of India, Dr. Hasmukh Adhia busts seven misconceptions about newly implemented law relating to Goods and Services Tax (GST). Myth 1: I need to generate all invoices on computer/ internet only Reality 1: invoices can be generated manually also. Myth 2: I need internet all the time to do business under GST. Reality 2: internet […]
New GST regime gives Freedom from maintaining too many Accounts and Records. Provisions relating to accounts and records are contained under section 35 of the CGST Act, 2017. Under GST, One Accounts and Records is enough. Unique features of GST related to Accounts and Records to be maintained are as follows :- 1. Compliance verification in GST […]
