Remission of Duties or Taxes on Export Products (RoDTEP) was introduced for the Exporters to make Indian products cost-competitive and create a level playing field for them in the Global Market by Refund un-refunded Taxes or Duties / Levies, not Exempted or Rebated at Present by any other Mechanism. Government Issued an Advisory on 1st Jan’2021, […]
A turnover certificate is a detailed factual statement which certifies the turnover of an entity on basis the requirements. This certificate assures the users about the turnover generated by the business entity during a given period of time. Contents of a Turnover certificate The contents of a turnover certificate will depend upon its requirements & […]
Oligopoly – Features and Types What Is Oligopoly? The term oligopoly contains two words: “Oligi” means little and “Polein” means sell. Oligopoly is known as – competition among few. This means that this market has few sellers. The few sellers in this market influence the behavior of other firms, and each seller is influenced by […]
1. Measures for Trade facilitation: Relaxation in the requirement of filing FORM GST ITC-04: Requirement of filing FORM GST ITC-04 under rule 45 (3) of the CGST Rules has been relaxed as under: 1. Taxpayers whose annual aggregate turnover in preceding financial year is above Rs. 5 crores shall furnish ITC-04 once in six months; 2. Taxpayers whose […]
The Goods & Services Tax (GST) has just completed 4 years in operation. On this occasion, we take an opportunity to analyse impact and note major highlights of GST on Tea Industry of India. After water, Tea is said to be the most consumed drink worldwide. Tea (CHAI) is undoubtedly the most popular beverage in […]
Pre-Packaged Insolvency Resolution under Insolvency and Bankruptcy Code, 2016 (IBC 2016) Pre-Packaged Insolvency Resolution Process( hereinafter called PPIRP) under the Insolvency and Bankruptcy Code, 2016 has been introduced by President of India on 04.04.2021 through Insolvency and Bankruptcy Code ( Amendment) Ordinance, 2021. This concept under IBC has been introduced to provide alternative efficient and […]
Intermediary Service Meaning of Intermediary Section 2(13) of the IGST Act 2017, an intermediary includes broker or an agent or any other person by whatever name called, who arranges or facilitates the supply of goods or services or securities between two or more persons. Exclusions: – Who supplies goods, services or securities on his own […]
✓ The proposed company to be incorporated is to be a public limited/Private/Section8/OPC/Section 8Company limited by shares. ✓ The proposed name(s) of the company are not based on a registered trademark and is not subject of an application pending for registration under the Trade Marks Act, 1999; ✓ The proposed Company shall not issue any […]
Limited Liability Partnership (LLP) is a legal business structure. It is a partnership in which all partners have limited liabilities. It therefore can exhibit elements of partnerships and corporations. In an LLP, each partner is not responsible or liable for another partner’s misconduct or negligence. Limited liability partnerships differ from ‘traditional’ business partnerships, and also […]
Understanding section 54 of the Income-tax Act, 1961. Learn about the relief it provides to individuals and HUF on the transfer of residential property.
