The Central Board of Indirect Taxes and Customs has provided a facility of Aadhar authentication for new goods and services tax (GST) registration to be activated from August 21, 2020, with the objective to enhance ease of doing business. For those opting for Aadhar authentication, new GST registration will be issued within three working days […]
On 20th August 2020, the GST Council has scheduled two GST Council meetings back to back starting on August 27 and September 19th as 41st and 42nd meetings for 2020 respectively. With a steady decline in the GST collection, the Central Government has expressed its inability to compensate States this time. This agenda is to be discussed for the 41st […]
Ministry of Corporate Affairs has set up an expert panel that proposed a new policy for businesses which will require them to provide how their product or services are sustainable and responsible to the society and if they pose any risk to the environment in addition to being compliant with the law.
On 18th August 2020, the Central Board of Direct Taxes has issued a list of guidelines that prescribe conditions for the pension funds in India to take the benefit of income tax exemptions vide Notification No. 67/2020-Income Tax/[G.S.R. 508(E)] dated-17/08/2020. The announcement comes after a July notification related to Draft Proposed Pension Fund Rules 2020 that intends […]
Since the inception of GST in the last three years, it’s been a tough journey for all the stakeholders in understanding and processing the system for compliance fulfilments. Though, there have been changes and flexibilities provided by the CBEC from time to time to ensure no default on taxes, still many areas seem to be inconsistent enough to give […]
Every Independence Day is a good way to assess how much social, economic and legal freedom have we achieved in the last one year as ‘true freedom lies only in breaking all old shackles of bondage’. Let’s take a look at some major events that happened since last year-
On 13th August 2020, Honourable Prime Minister Narendra Modi has enunciated a platform to tribute the honest taxpayers of the country and ensuring awareness about honest tax payment in India. The inauguration of the “Transparent Taxation” program happened at 11 am through video conferencing. The “Transparent Taxation” platform will work to create major reforms meant to establish more transparency in income […]
In a significant judgment on Tuesday, the Supreme Court of India ruled that a daughter will have a share in her ancestral property after the Hindu Succession (Amendment) Act, 2005 irrespective of the fact whether her father was alive or not at the time of the amendment.
In a recent ruling by the Maharashtra Authority for Advance Rulings (AAR) has maintained that the coaching centers are not eligible for exemption under GST and they will continue to pay GST @18% under the GST regime, even in cases where the educational services bear a ‘Nil’ tax for their educational services. The ruling came when a Mumbai based coaching […]
The Securities and Exchange Board of India notified on 3rd Aug 2020 that it shall be compulsory for the proxy advisors to share their report with its clients and the company at the same time. This is the first time the regulator has come out with guidelines for local proxy advisors after framing regulations in 2014. This notification shall […]
