Section 5(2) of the CGST Act states that the interest under section 50(1) of the CGST Act shall be computed from the day succeeding the day on which such tax was due to be paid. Thus, calculation of the interest will be done from the next day of the due date of tax payment till the actual date of payment of tax.
Learn how to format a board resolution for closure of a current bank account. Get a certified true copy of the resolution passed at the meeting of the board of directors.
Understand the impact of the CBDT circular on TDS on benefits or perquisites u/s 194R. Learn about the new section 194R and its implications on tax deductions.
Discover why an IEC code license is mandatory for export services. Learn how to obtain an IEC code and comply with import-export regulations.
Find out which businesses and professions are excluded from the presumptive taxation scheme u/s 44AD of the Income Tax Act.
Understanding private placement by unlisted public and private companies. Learn about the rules and procedures for issuing shares under private placement.
Understanding the provisions of IBC: Explore the unsettled parts and landmark judgments that shed light on its applicability.
Discover the enhanced features of LLP Version 3 portal. Learn about the seamless transition, user-friendly interface, and new services for LLP’s.
We are recovering from COVID-19 pandemic era in which whole world has stopped due to deadly COVID-19 virus and business activities have also been at hold. The business houses are starting their activities of merger and acquisitions.
Understanding the recent ruling on blocking Input Tax Credit (ITC) under Rule 86A by the GST department. Learn more about the implications and legal considerations.
