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Section 118(10) of the Companies Act, 2013 mandates the observance of Secretarial Standards on General and Board Meetings specified by The Institute of Company Secretaries of India and approved by the Central Government. Accordingly, the Secretarial Standards on Meetings of the Board of Directors (SS-1) and Secretarial Standards on General Meetings (SS-2), as approved by the Central Government, have been issued by the ICSI for observance by all companies (except exempted class of companies).
ARE ALL SERVICES PROVIDED BY THE GOVERNMENT OR LOCAL AUTHORITY EXEMPTED FROM PAYMENT OF TAX ? No, all services provided by the Government or a local authority are not exempt from tax. As for instance, services, namely, (i) services by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services provided to a person other than Government; (ii) services in relation to an aircraft or a vessel, inside or outside the precincts of an airport or a port; (iii) transport of goods or passengers; or (iv) any service, other than services covered under (i) to (iii) above, provided to business entities are not exempt and that these services are liable to tax.
Answer: No, all services provided by the Government or a local authority are not exempt from tax. As for instance, services, namely, (i) services by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services provided to a person other than Government; (ii) services in relation to an aircraft or a vessel, inside or outside the precincts of an airport or a port;
What is form GSTR-3B? Form GSTR-3B is a simple E-form introduced by the CBEC for the month of July and August. In GSTR-3B we don’t have to provide invoice level information, only total consolidated values for each supply have to be provided.
Question 1: Whether advertising and communication material (banners/hoardings/posters) provided to distributors would be treated as supply in the course of business by the company thereby not requiring any reversal of ITC. Answer: (a) Where the material is provided free of cost: This would not amount to a supply and hence no tax is payable on […]
Question 1: Whether software is regarded as goods or services in GST? Answer: In terms of Schedule II of the CGST Act 2017, development, design, programming, customisation, adaptation, upgradation, enhancement, implementation of information technology software and temporary transfer or permitting the use or enjoyment of any intellectual property right are treated as services. But, if […]
Under GST, a trader would be entitled to avail input tax credit paid on his domestic procurements of goods and services unlike the present indirect tax regime. Presently, a significant portion of indirect taxes namely Central Excise and Service Tax form part of the cost component for a trader. This will not be the case under GST. He will now be able to take credit of all taxes paid by him.
Query 1. What is the HSN code for Mahua Flower and its GST rate? Reply:- Mohua flowers fall under heading 1212 and attract 5% GST. Query 2. What is the HSN code for Sal Leaves which is used for making plates and its GST rate?
Conundrum of Goods Transport Agency ( GTA) in GST Q1 . What is a Goods Transport Agency ? Why is it Important? Goods Transport Agency means any person who provides service in relation to transport of goods by road and issues consignment note, by whatever name called.
Under the GST Law, export of goods or services has been treated as: inter-State supply and covered under the IGST Act., zero rated supply i.e. the goods or services exported shall be relieved of GST levied upon them either at the input stage oral the final product stage.