Gaining on the experience of the market with the current UPI system, the following issues have been identified based on the consultation with market participants which need to be addressed.
Section 273B states that wherever there is a reasonable cause in not complying with the requirements resulting into imposition of penalty including section 271(1)(b) under consideration, the penalty needs to be deleted.
In re Great Lakes E-Learning Services Pvt. Ltd. (GST AAR Karnataka) FULL TEXT OF THE ORDER OF AUTHORITY OF ADVANCE RULING, KARNATAKA M/s Great Lakes E-Learning Services Pvt Ltd., Flat No:758-759, 19th Main, Sector-02, 1st Floor, HSR Layout, Near Sri Sai Mandir, Bengaluru-560102 (hereinafter referred as ‘applicant), having GSTIN: 29AAECB3694E1ZJ, filed an application for Advance […]
In re Shiv Shankara Health Care Enterprises (GST AAR Tamilnadu) Whether the goodwill paid to the partners at the time of retirement is liable to be taxed under GST Act. We have carefully considered the application, various submissions of the applicant, remarks of the jurisdictional officers and the request for withdrawal made by the applicant. […]
ACIT Vs Overtop Marketing Pvt. Ltd. (ITAT Kolkata) when the assessee as well as the lenders had discharged the onus upon them to prove the identity, creditworthiness and genuineness of the loan transaction, the AO could have disbelieved the transaction only on the basis of reliable material to disprove the same. In this case the […]
It had been prescribed that the condition made under sub-rule (4) of rule 36 of the GST Rules shall apply cumulatively for the tax period February, March, April, May, June, July and August, 2020 and that the return in FORM GSTR-3B for the tax period September, 2020 shall be furnished with the cumulative adjustment of input tax credit for the said months.
These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2021
Insurance (Amendment) Bill, 2021, amending the Insurance Act, 1938, seeks, inter alia, to provide for- (i) substitution of sub-clause (b) in the definition of Indian insurance company in clause (7A) of section 2 of the Insurance Act, 1938, so as to raise the limit of foreign investment in an Indian insurance company from the existing 49 per cent. to 74 per cent. and to allow foreign ownership and control with safeguards;
AS INTRODUCED IN LOK SABHA Bill No. 60 of 2021 THE MARINE AIDS TO NAVIGATION BILL, 2021 ARRANGEMENT OF CLAUSES’ THE MARINE AIDS TO NAVIGATION BILL, 2021 A BILL to provide for the development, maintenance and management of aids to navigation in India; for training and certification of operator of aids to navigation, development of […]
This article will be beneficial for you in case you want information on taxation on foreign companies. The Finance Act 2015 amended the test of residence of companies by inserting a concept called Place of Effective Management (POEM). Let us first find out what the section tells us and then let’s interpret it.
