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12% GST payable on setting of Naval Communication Network for Indian Navy on Supply from 1.4.19 to 31.12.21

February 7, 2023 1068 Views 0 comment Print

In re Sterlite Technologies Limited (GST AAAR Maharashtra) The supply under the contract for setting of Naval Communication Network for Indian Navy from 1.4.2019 to 31.12.21 are held as falling under entry at serial number 3(vi)(a) of Notification No.11/2017-Central Tax (Rate) dated 28.06.2017 and accordingly taxable at 6% under CGST and 6% under SGST or 12% […]

Enhanced obligations and responsibilities on Qualified Stock Brokers (QSBs)

February 6, 2023 1431 Views 0 comment Print

Certain stock brokers, due to various factors like their size, trading volumes and amount of clients’ funds handled by them, have come to occupy a significant position in the Indian securities market which is leading to concentration of activity among few stock brokers.

Join GST, Income Tax & TDS Refresher Certificate Course

February 6, 2023 10692 Views 12 comments Print

Acquire skill in our training room on how to read and connect tax laws with transactions in order to crack complex business problem. It is not a Webinar, it is not a seminar, it is not a workshop but a TRAINING to impart a skill to connect Act with fact. Our faculty Mr. Subhasis Banerjee, (FCA, LL.B) is […]

CBDT set-up office for operationalising Boards for Advance Rulings

February 6, 2023 2313 Views 0 comment Print

F No. 189/3/2022-ITA-I Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi. ***** Dated: 06th February, 2023 Office Order Subject: Setting up of office for operationalising Boards for Advance Rulings – reg. In continuation to the Notification No.96 of 2021 dated the 1st September, 2021 published […]

Hard knock to taxpayers remitting monies for spends outside India

February 6, 2023 2268 Views 0 comment Print

In her Budget speech, the Finance Minister indicated that the goal of ‘Amrit Kaal’ is for India and its citizens to ascend to new heights of prosperity, as the country complete 100 years of independence. Budget 2023 has drawn the blueprint for India’s ‘Amrit Kaal’ and has a vision for an empowered and inclusive economy, […]

Simplified Tax Regime – Is it more attractive than Old Regime?

February 6, 2023 2523 Views 0 comment Print

Just before the Finance Minister presented Budget 2023 in the Lok Sabha, my father, echoing the sentiments of many, said: “Being a middle class salaried person, why would anyone opt for the simplified tax regime u/s 115BAC?” This question may have to be re-looked especially after the Budget announcement by the Finance Minister. In her […]

Quantifying the unquantified Cost of acquisition – Budget 2023

February 6, 2023 2685 Views 0 comment Print

Intangibles have over the past couple of decades become an integral path for achieving accelerated business growth. A few decades ago, the valuation of a company was largely derived based on the tangible assets it owned, such as machinery, plant, raw material, etc. However, in recent times, intangibles such as software, data, intellectual property, etc. […]

Limitation date for reopening cases related to Ashish Agarwal judgment

February 6, 2023 5376 Views 0 comment Print

Supreme Court in the matter of Shri Ashish Agarwal, several representations were received asking for time-barring date of such cases, in the light of communication sent by ITBA. The Board is of the view that such cases have to be completed by 31.05.2023

MCA penalised company for violation of Section 378ZA(10) of Companies Act, 2013

February 6, 2023 1728 Views 0 comment Print

It is observed that the company has not filed its proceedings of annual general meeting alongwith the report of the Board of Directors, the audited balance sheet and profit and loss for the financial years 2015-2016 to till date per the MCA portal. Hence, this office has issued show cause notice for default under section […]

Step by Step Process for DSC Registration on MCA21-V3 Portal

February 6, 2023 29967 Views 0 comment Print

> Download EMSIGNER and EMBRIDGE BOTH for DSC registration on MCA21-V3 Portal. > Change PIN/ Password of the DSC (For First Time Association under this Service). > For Professionals, Directors, Designated Partners, Manager, Secretary, Authorized Representatives, Professional Staff Members, registration as a ‘BUSINESS USER’  is MUST for completion of DSC Registration. > One person can […]

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