In brief, the learned Judges of the Supreme Court held that FOWC carried on business in India for the duration of the race (and for two weeks before the race and a week thereafter). A PE must have three characteristics: stability, productivity and dependence.
The most important aspect of any taxation statute is the incidence of taxation i.e. the point at which the tax shall apply to a particular transaction. In the case of GST in India, the incidence of taxation is ‘Supply’.
Following is the Summary of 22 Key Decisions taken by GST Council at 22nd GST Council Meeting 1. Turnover limit for Composition Scheme extended to Rs. 1 crore from 75 lacs in all States and Rs. 75 lacs for Special category States except Uttarakhand and Jammu & Kashmir. Can be availed anytime before 31.03.2018. 2. […]
Today, an Announcement was made in the Press Conference after the 22nd Meeting of GST Council that, for small businesses, the return filing as well the tax payment will be Quarterly. It was clearly stated that, the said Announcement will operationalize from the quarter beginning from October, 2017. Later on, in the same Press Conference, […]
GST Council at its 22nd meeting rationalised GST rates on job work services, services provided by a GTA to an unregistered person, Leasing of vehicles purchased and leased prior to 1.7.2017, Transport of passengers by motor cab/ renting of motor cab and has taken various other measure.
EXPORT PACKAGE GST The GST Council under Chairmanship of Union Finance Minister Shri Arun Jaitley has in its 22nd Meeting held at Delhi today approved a major relief package for exporters. 2. Mindful of the difficulties faced by exporters post-GST leading to a decline in export performance and export competitiveness, the Council had last month […]
The composition scheme shall be made available to taxpayers having annual aggregate turnover of up to Rs. 1 crore as compared to the current turnover threshold of Rs. 75 lacs. This threshold of turnover for special category States, except Jammu & Kashmir and Uttarakhand, shall be increased to Rs. 75 lacs from Rs. 50 lacs.
As per discussions held in the 22nd GST Council Meeting held under Chairmanship of Union Finance Minister Shri Arun Jaitley on 6th October, 2017, the following changes in GST rates for certain Goods and IGST rates on Imports of specified Goods have been recommended. Krishan Arora, Partner, Grant Thornton India LLP on the GST Council […]
Many options and suggestions were proposed to overcome such challenges. GST related issues regarding working capital blockage, delay in refunds and usability of MEIS/SEIS scrips were raised by exporters.
Govt has decided to issue Sovereign Gold Bonds 2017-18 – Series-III. Applications for the bond will be accepted from October 09, 2017 to December 27, 2017. The Bonds will be issued on the succeeding Monday after each subscription period.
