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Summary of Notifications No. 09 to 14/2022-Central Tax dated 05.07.2022

July 8, 2022 58803 Views 1 comment Print

Dive into the summary of Notifications No. 09 to 14/2022-Central Tax dated 05.07.2022, unraveling amendments and their implications in GST regulations. Stay informed!

Crux of TDS under Section 194R of Income Tax Act, 1961

July 8, 2022 4764 Views 0 comment Print

Explore the crux of TDS under Section 194R of the Income Tax Act, 1961. Learn about its applicability, rates, non-applicability, liability, and recent amendments.

Notifications pursuant to 47th GST Council Meeting Dated: 05.07.2022

July 8, 2022 6504 Views 0 comment Print

Stay updated on latest GST changes with notifications post the 47th GST Council Meeting on 05.07.2022. Exemptions, due date extensions, rule amendments, and more.

An Analysis of Niti Aayog’s Proposal For A New Era of Digital Banks

July 8, 2022 1530 Views 0 comment Print

Digital banks are the future of banking in India. However, there is a grave deficiency of regulation of these banks owing to their recent adaptation into the mainstream.

GST: Supply of Duty CREDIT Scrips – Impact on Input Tax Credit

July 8, 2022 153843 Views 5 comments Print

Duty Credit Scrips are goods as held by many Courts and the supply of the same liable to GST. Duty Credit Scrips covered under HSN 4907 and exempted from 13.10.2017 under S. No. 122A of Notification 2/2017 – CGST (Rate). Prior, it was taxable under GST.

Summary of 7 GST Circulars issued on 06-07-2022

July 8, 2022 6351 Views 0 comment Print

Explore key insights from 7 latest GST Circulars (Nos. 170/02/2022-GST to 176/08/2022-GST) issued on 06-07-2022. Clarity on GSTR-3B, Fake Invoices, Refunds, and more.

Analysis of GST Notifications Issued by CBIC on 05th July 2022

July 8, 2022 21081 Views 0 comment Print

Explore the latest GST notifications issued by CBIC on July 5, 2022, post the 47th GST Council Meeting. Key updates include interest imposition on incorrect ITC utilization, new rules for interest calculation, extension of timelines, and changes in FORM GSTR 3B and annual return filing. Stay informed for compliance and optimal financial planning.

Analysis of 7 GST Circulars issued by CBIC on 06th July 2022

July 8, 2022 7188 Views 0 comment Print

Explore the detailed analysis of 7 GST Circulars issued by CBIC on July 6, 2022, following the 47th GST Council Meeting recommendations. Understand key insights on GSTR filing, demand and penalty provisions, deemed exports, blocked ITC, perquisites, refund processes, and duty-free shops. Stay informed about the latest updates impacting GST compliance and regulations.

Section 194R of Income-Tax Act, 1961: More complications to Ease of Doing Business

July 8, 2022 2715 Views 0 comment Print

Explore the complexities of Section 194R of the Income-Tax Act, 1961, with guidelines from CBDTs circular No.12 of 2022. Learn about TDS provisions, implications for businesses, and potential challenges, questioning the alignment with the Finance Bill 2022. Review real-world scenarios on out-of-pocket expenses and dealer conferences, highlighting concerns and suggesting a need for a comprehensive review by the government. Stay informed about the effective date and potential impact on the Ease of Doing Business.

GIST of recent notifications issued by CBIC on 5th July 2022

July 8, 2022 3273 Views 0 comment Print

CBIC issued notification No. 09/2022-Central Tax to 14/2022-Central Tax  under Central Goods and Service Tax (CGST) Act, 2017 on 05th July 2022

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