Important update for taxpayers: CBDT allows condonation of delay in filing Form 9A, Form 10, Form No. 10B & 10BB for AY 2018-19 and subsequent years. Circulars No. 15, 16, and No. 17 dated 19th July 2022 provide details and conditions. Stay informed for smooth compliance.
With the advent of Insolvency and Bankruptcy Code, 2016 (IBC), there has been a transformative turnaround in the corporate insolvency resolution framework in India. However, the IBC does not accommodate and provide for specific arrangements or contains any provision for group insolvency as the legislation itself is still evolving and is designed for a single economic entity.
Renting of an immovable property is considered a supply of service under GST as per schedule II of the CGST Act 2017. Till 17th July 2017, renting of residential dwelling for use as residence was exempted whereas services by way of renting for commercial use (SAC Code –997212) was taxable @ 18%. However, the dynamics of renting of residential property under GST has changed from 18th of July 2022.
Explore ITR-U for corrections and updates in cases like unfiled returns, incorrect reporting, and more. Be aware of conditions where ITR-U cannot be filed. Pay attention to additional taxes and interest for timely compliance.
Resolution 1: No more refund rejection on ground that export of services by one establishment of a person in India to another establishment of the same person outside India, considered as establishments of distinct persons as per Explanation 1 of section 8 of IGST Act
Understanding the impact of fake invoices under GST – Demand and penalty provisions. Explore the consequences for issuing tax invoices without actual supply of goods or services, and the penalties involved. Stay informed on GST compliance.
The DESH bill seeks to expand the ambit of the SEZs firstly to make them WTO-compliant and perform roles that go beyond export orientation.
गेहूं , आटा एवं अन्य खाध्य सामग्री पर जो कर पहले ब्रांडेड सामग्री पर लगता था वह अब ब्रांडेड से हटा कर अब सभी प्रकार की पेकेजड सामग्री , जिसे हम आगे पैक्ड सामग्री कहेंगे पर आ गया है . सरकार के अपने कारण है और इसमें से सबसे बड़ा कारण से उन्होंने बताया वह […]
Prior to amendment w.e.f. 18.07.2022, if a person has given his residential property to any person for residential purpose (other than Commercial Purpose) is exempted from GST.
GST Liability on pre-package and labelled commodity has been matter of serious debate among trade and professional circles in last few weeks. In this article I share some of my thoughts on pros and cons on this new imposition of tax.
