Corporate Law : Overview of the Constitution (106th Amendment) Act, 2023 covering women’s reservation in Parliament and Assemblies, its scope, t...
Fema / RBI : The issue concerns alternative settlement mechanisms for international trade. The framework allows INR-based transactions with fle...
Company Law : The scheme allows companies to clear pending filings at reduced cost. It provides a major compliance relief with only 10% addition...
Goods and Services Tax : IGST refunds are not available when exports are made under LUT/Bond without tax payment. The clarification highlights eligibility ...
Income Tax : The issue covers taxation and computation of house property income under the new law. The key takeaway is clarity on annual value,...
Finance : The Authority clarifies application process, operating models, service limits, and compliance obligations under the new GIC Regula...
Corporate Law : The India–European Union Free Trade Agreement (FTA) is a comprehensive pact covering trade in goods, services, rules of origin, ...
Corporate Law : The ruling clarifies that digital processes are encouraged but not mandatory, ensuring workers rights are protected even through p...
Company Law : The law removes sector-based exclusions and extends minimum wage protection to all employees. It confirms universal coverage acros...
Corporate Law : The FAQs explain the uniform wage definition and the 50% allowance cap across all Codes. Gratuity applies prospectively from 21 No...
Corporate Law : FSSAI introduced perpetual licenses and simplified registration norms to ease compliance. The reforms reduce costs while maintaini...
SEBI : FPIs can now apply for Digital Signature Certificates directly within the CAF portal. The move simplifies onboarding and reduces p...
Goods and Services Tax : GSTN has clarified key issues on filing annual returns through consolidated FAQs. The guidance explains ITC reporting, auto-popula...
Goods and Services Tax : ITC availed for FY 2023-24 but reversed or claimed in FY 2024-25 must be reported in Table 6A1 of GSTR-9. Reversals from prior yea...
SEBI : The notice outlines detailed guidance on filing financial results under Regulation 33, covering timelines, disclosure norms, and r...
Are liquor shops and permit rooms required to file GST returns? Ans: Yes, if registration has been taken, then returns are to be furnished mandatorily even when there is no turnover. Alcoholic liquor for human consumption is dealt by state excise & VAT/CST laws and concerned returns are anyway required under these laws.
Levy Q 1. What is the taxable treatment of the services provided by a Service Provider in respect of such services which are covered under notification 25/2012-Mega Exemption Notification for Government, railways and other Departments? Such Services are exempt from Service Tax, hence who will bear the GST tax element of 18%, the Service Provider […]
The society collects the following charges from the members on quarterly basis as follows: 1. Property Tax-actual as per Municipal Corporation of Greater Mumbai (MCGM) 2. Water Tax- Municipal Corporation of Greater Mumbai (MCGM)
a) Will GST be charged on actual tariff or declared tariff for accommodation services? b) What will be GST rate if cost goes up (more than declared tariff) owing to additional bed. c) Where will the declared tariff be published? d) Same room may have different tariff at different times depending on season or flow of tourists as per dynamic pricing. Which rate to be used then?
COMPOSITION Q.1 Whether a person can avail the composition scheme on Small Retail Trading of goods if he is holding both incomes like Sale of business: Rs. 25 lakh (Small Retail Trader) and Rental income: Rs. 12 lakh, whereas the person was registered earlier in VAT Composition Scheme and was paying Service Tax on rental income? […]
The compilation of frequently asked questions on GST brought out by the apex training institute under the Central Board of Excise & Customs (CBEC) the National Academy of Customs, Excise & Narcotics (NACEN), has been extremely well received. These GST FAQs were released on 21st September, 2016 by the Honble Finance Minister and were based on the Model GST Law as on June, 2016.
FILING TRAN-1 is very important & as the due date is 28th Sept’17, Some of the important point covered as below, For all other SECTION wise & TABLE wise QUERIES, you can view the VIDEO in the link below, must subscribe my YouTube CHANNEL for more updates
This article attempts to simplify the miscellaneous transitional provisions under GST for better understanding. What types of forms are required to filed in relation to Transition to GST from earlier laws? 2 different types of forms have prescribed in relation to GST transition. Summary of these forms is as below
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.
