Per High court judgment in the case of Greenwood Owners Association & Ors. v. Union of India & Ors.(2021) 36 J.K.Jain’s GST & VR 57 (Mad), monthly contribution of members collected by Resident Welfare Associations (RWA) are Liable to GST on contribution exceeding Rs.7500/- under HSN code 9995. The circular No.109/28/2019 dated 22.7.2019 issued by […]
To attract foreign investment so to have boost in recovering economy from COVID-19 slowdown, to provide tax certainty to foreign investors, and to provide a positive message to foreign investors to invest in India by assuring tax certainty the Government of India on 04th August 2021 introduced a Bill in the Parliament to amend Explanation […]
Latest Update on IBC Gist of Report of Standing Committee on Finance ‘Implementation of IBC- Pitfalls and Solutions‘- on IBC 2016 On 28th July 2021 Lok Sabha had passed the Insolvency and Bankruptcy Code (IBC) Amendment Bill, 2021 and on 3rd August 2021 Rajya Sabha had passed the same and it has become Insolvency and […]
Introduction The Prime minister and its council of ministers on June 2 approved The Model Tenancy Act, 2021(MTA)[i] by introducing a new codification of law, thereby altering the existing law. The new model act is expected to improve the existing laws. The act tries to reduce the disputes between the parties by clearly stating the […]
Quasi Judicial authorities are independent, bound by law but not by administrative instructions The officials of the sales tax department are administrative authorities. However, such of the officials as are vested with jurisdiction to assess. The business transactions of the dealers to tax, discharge function which is judicial in nature. The function though administrative is […]
The month of August is very crucial for many reasons. One of the major reasons is that it has been predicted by the experts that COVID 19 third wave might hit the country in the August itself. But simultaneously it is important for the businesses and entrepreneurs to stay compliant with various compliance during the […]
Enterprise Resource Planning (ERP) is a business management software that allows an organization to leverage a suite of integrated applications by streamlining and automating processes, creating a leaner, more accurate and an efficient operation along with providing complete visibility into core business processes.
Hindu law is derived from old scriptures and has developed over the years with judicial pronouncements. Some of the laws applicable to Hindu have been codified in 1956 with passing of legislations like Hindu Marriage Act, Hindu Succession Act, 1956, Hindu Adoption an maintenance Act and Hindu Minority and Guardian ship Act. The most important […]
The Government has introduced the Taxation Laws (Amendment) Bill, 2021 (no. 120 of 2021), which seeks to provide relief in respect of income deemed to accrue or arise to a non-resident due to direct and indirect transfer of capital assets by non-residents. Below is a brief overview of the same. Amendment to Explanation 5 to section […]
जून और जुलाई आयकर रिटर्न भरने का सबसे व्यस्त महीना होता है लेकिन इस समय अगस्त आ चुका है लेकिन आयकर रिटर्न्स भरने की काम ने गति नहीं पकड़ी है और 1 जून को बंद होके 7 जून 2021 को नई सुविधाओं के साथ प्रारम्भ होने वाली आयकर विभाग की साईट अभी अगस्त माह के […]
