Even after amendment in Section 16(4) of CGST Act, the ITC on Debit Notes should be seen w.r.t. the FY for which corresponding invoices were issued instead of FY in which Debit Notes were issued.
Introduction: The Limited Liability Partnership (LLP) is formed under the LLP Act, 2008. LLP Registration is a famous term among Startups and new entrepreneurs. It can be difficult to operate an LLP type of business as compared to another type of business that offers better opportunities for the growth and development of the business. So, the benefits […]
The Market Regulator Security Exchange Board of India (SEBI) met in Mumbai on Tuesday i.e. 29th June 2021. The Board of SEBI takes decisions on the following mentioned topics:- 1. REVIEW (A). Review and Merger of SEBI (Issue and Listing of Debt Securities) Regulations, 2008 and SEBI (Non-Convertible Redeemable Preference Shares) Regulations, 2013 into a single Regulation […]
The constitutional validity of Section 13(8)(b) of the IGST Act, 2017 (Act) has been examined by Gujarat High court and then Bombay High court. While the division bench of the Gujarat High court upheld the said provision, the division bench of the Bombay High court took a divergent view. Justice Ujjal Bhuyan of the Bombay […]
On 29th June, 2021, the Board of SEBI met in Mumbai. In the said meeting, the Board took the following decisions: Review and Merger of SEBI (Issue and Listing of Debt Securities) Regulations, 2008 and SEBI (Non-Convertible Redeemable Preference Shares) Regulations, 2013 into a single Regulation – SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 […]
The Foreign Exchange Management Act, 1999 (FEMA) is an act of the Parliament of India to consolidate and amend the laws relating to foreign exchange with the objective of facilitating external trade & payments and promoting the orderly development and maintenance of foreign exchange market in India. Section 15 of Foreign Exchange Management Act (FEMA), […]
Provisional attachment of any property can be made to enforce or protect recovery of tax demands under the GST law. Where the proper officer consider it expedient in the interest of revenue, he may for reasons to be recorded in writing may require the taxable person to pay the demanded amount within a period shorter […]
Understand the new Section 194Q of the Income Tax Act and its implications for buyers. Learn about the applicability and conditions for TDS deduction on purchase of goods exceeding Rs. 50 lakhs.
Article explains Documents required/checklist for GST registration of Proprietorship, Partnership, Hindu Undivided Family,Limited Liability Partnership, Public Limited Company/Private Limited Company/Unlimited Company, Society/Club/Trust/AOP/BOI and Government Department/Local Authority/Statutory Body. The following documents are required to obtain GST registration depending on the types of business or constitution. Documents required/checklist for GST registration of Proprietorship (1) Aadhaar Card of Proprietor (2) […]
Reserve Bank of India (RBI), based on discussion paper on ‘Governance in Commercial Banks in India’ in June, 2020 and feedback thereon, RBI has carried out a comprehensive review of Governance framework to address operative aspects. RBI has issued instructions in relation to the following aspects of board governance: -Chairman of Board -Board meetings -Board […]
