Writing anything on clause (c) of sub-section (2) of section 16 of CGST Act, 2017 is nothing but scary. It is one of the harshest and scariest provisions of the GST laws and may prove to be a nightmare for the compliant taxpayers. This particular provision says that availment of ITC by the recipient of […]
Inquiry under section 70 Vs Proceedings under section 6(2)(b) of the CGST Act, 2017 to be treated at par or not under the GST law The article is discussing the case whether the inquiry may be conducted for any person by two different authorities on the same subject-matter under section 70 of the CGST Act […]
With the declaration of final tax system reformation on 10th August 2021, by 136 countries and jurisdictions representing 90% of global GDP, you may be happy to know that Multinational Enterprises (MNEs) will be subject to a minimum 15% tax rate from 2023 and that this deal would embark on distribution of US D 125 […]
Now a days, to manage working capital requirements, entrepreneurs are moving towards bank to raise funds at cheaper rate instead of investing their own funds. Banks are also interested in giving loans to businesses that have strong financial and repayment capacity. When we approach bank then they ask for Project report and CMA data of […]
Valuation exercise involves the services of a professional i.e. a Valuer. Valuer is engaged by the clients for the specific purpose of Valuation assignment. This assignment or engagement of Valuer for Valuation has three phases: 1. Pre-engagement 2. Execution 3. Closure
Tax Audit Auditor Appointment 1. Login to ITD Portal using Clients Credentials 2. Click e-File 3. Go to Income Tax Forms 4. Click on File Income Tax Forms 5. Search for Form 3CA/Form 3CB 6. Click on File Now 7. Fill in the Form as Below or search for Added CA from Drop Down or […]
The role of chartered accountants in the capacity of Auditors assures smooth-running business that helps to reduce fraud and accounting. Audit in banks is useful not only from the point of view of the management, who is the appointing authority but also from the point of other parties, who are interested in their different objectives viz, the Government, public, RBI, Investors, Depositors and Analysts.
One of the main objective of GST was to eradicate cascading effect of taxes which existed under excise, VAT and service tax. Under GST input tax credit can be claimed irrespective of place of supplier, thus making accessibility for sales and purchase of goods easier. Amendment in Section 16 Eligibility and Conditions for taking Input […]
Everything you need to know about MSME Udyam Industry Registration (formerly known as Udyog Adhar) What is Udyam Registration? The main question in the minds of many novice entrepreneurs is what Udyam registration is. If you are having the same question, then you are at the right place. Udyam Registration, also known as MSME Registration, […]
If you have purchased or intend to purchase a residential or commercial premises, you will often come across real estate jargon such as ‘building without OC’ or ‘building with OC’. Understanding what an OC is, when it is issued and what the consequence of non-issue of OC is will help you make a more informed […]
