Accordingly, it is believed that under the GST Law, the intent or objective of any club or association is immaterial in so far as the leviability of GST is concerned. Therefore, provision by club, association, society, or any such body (for a subscription or any other consideration) of the facilities or benefits to its members will surely attract GST irrespective of the fact that such club is not set up with the objective of providing any goods or service to its members.
For determining the allotment in an initial offer, by a publicly offered InvITs/REITs, following guidelines shall be applicable: The value of each allotment lot shall not be less than Rs 1 lakh for InvITs and Rs 50,000 for REITs, where such lot shall consist of 100 units. Allotment to any investor shall be made in the multiples of a lot.
Under Sections 125 read with Section 126 of the Customs Act, 1962 where the redemption fine in lieu of confiscation is not paid within the time stipulated, the Central Government is entitled to retain the excess auction sale proceeds of the confiscated goods, after adjustment of the duty, penalty, interest and other statutory dues.
M/s. Angre Port (P) Ltd. Vs ITO (ITAT Pune) Wharfage charges are charged from the assessee and in such case, we hold that there is no use of land but even if it was held that there is any use of land, then the same was incidental but such payments could not be treated as […]
Presently, the Audit Report is required to be submitted by the Corporates to the Stock Exchanges with which the company is listed. However, with the Rule 9A being enforced and the said reporting mandate being extended to unlisted public companies, it is imperative that a standardised format is provided amongst stakeholders for the ease and assistance of both the corporates and professionals alike and to support the existing governance structure.
In the context of formulating the proposals for the Union Budget of 2019-20, the Ministry of Finance would like to be benefited by the suggestions and views of your Association. You may like to send your suggestions for changes in the duty structure, rates and broadening of tax base on both direct and indirect taxes giving economic justification for the same.
Where assessee made interest free advances out of interest free own funds available with it, no disallowance of deduction under section 36(1)(iii) was called for.
Prior to launch of Turant Customs, the importer / authorised person / Customs broker was required to present to the proper officer the hard copy of Bill of Entry with examination order for registering the same at RMS Facilitation Centre or CFSs for examination and / or Out of Charge from SUP role.
Securities and Exchange Board of India (Real Estate Investment Trusts) (Amendment) Regulations, 2019 shall come into force on the date of their publication in the Official Gazette.
In re M/s Gitwako Farms India Pvt. Ltd. (GST AAR Rajasthan) What is the classification when the Frozen Chicken is sold in packaged form and it’s HSN code? The Branded Frozen Chicken supplied in a unit container is classifiable under HSN Code 02071200. Whether frozen chicken as sold by the company is exempt under Entry […]
