"Practice since 2019. Expertise in Direct Tax and Indirect Tax. "
Whether the Applicant can avail the Input Tax Credit of the full GST charged on invoices of the supply or a proportionate reversal of the same is required in case of post purchase Cash discount for early payment and incentive/schemes provided through credit note without adjustment of GST by the supplier to the applicant?
Understand Section 194Q of the Income Tax Act, 1961 for tax deduction guidelines on purchase of goods exceeding Rs.50 Lakhs.
Highlights of Article All Transport services by road are exempt from GST except services from GTA and Courier agency. Anyone who provides consignment note for goods delivery will be treated as GTA. Mere Bill is not a consignment note. 5% GST rate is applicable for transportation service by GTA on RCM basis means GST is […]
Section 50B read with Section 48 of the Act provides that capital gains on slump sale will be the difference between the full value of the consideration received/ accruing as a result of transfer of capital asset and the net worth of the undertaking sold.
Method for computation of Perquisite Value as referred in section 17(2)(viia) of Income Tax Act, 1961 (the Act) in respect of annual accretion to the balance of recognised provident Fund (RPF), Approved Superannuation Fund and National Pension scheme (NPS). Finance Act 2020 had amended the provisions of section 17(2) of the Act and substituted sub-clauses […]
