The Hon’ble AAAR, Karnataka, in the matter of NCS Pearson Inc., [Order No. KAR/AAAR/07/2020-21 (dated, November 13, 2020)] held that, the scoring done by the human scorer is to be regarded as being within the realm of minimum human intervention. Sets aside AAR’s findings of disqualifying classification of a Type-3 test offered by the M/s. […]
GST Compliance Calendar For The Month of January, 2021 for the period of December 2020 which explains due of following forms- GSTR-7, GSTR-8, GSTR-1, GSTR-1, GSTR-6, CMP-08, GSTR-3B, GSTR-5A, GSTR-5, GSTR-3B and GSTR-3B. DUE DATES MONTH / PERIOD FORM PARTICULARS 10.01.2021 December GSTR-7 GST TDS Deductors : For Authorities Deducting TDS 10.01.2021 December GSTR-8 GST TCS […]
1. Changes in Rule 36(4) of CGST Rules, 2017 from 1st January, 2020- recipients can claim provisional Input Tax Credit (“ITC”) in GSTR-3B to the extent of 10% instead of earlier 20% of the total ITC available in GSTR-2B for the month; 2. Insertion of new Rule 86A providing conditions of use of amount available in electronic credit ledger.
Let’s discuss recent changes in GST with new perspective- As GST become effective from July 2017, we all are happy that there will be seamless flow of ITC and no restrictions to claim ITC but now it is not easy to claim ITC –SOUL OF GST -as we have to cross many stages to claim […]
Article explains Sections of Companies Amendment Act 2020 which came into force from 21 December 2020. Article also contains Section of Companies Act, 2013 corresponding to Section of Companies Amendment Act 2020. Article explains Provision of Sections of Companies Amendment Act 2020 which came into force from 21 December 2020. Following provisions of the Companies […]
The Income-tax e-filing portal has completed its integration with the Institute of Chartered Accountants of India (ICAI) portal for validation of the Unique Document Identification Number (UDIN) generated from ICAI portal by the Chartered Accountants for documents certified/attested by them and factored mandatory quoting of UDIN with effect from 27th April 2020 for documents certified/attested […]
There is great dilemma in pricing of products so much so that for every overvaluation businesses are suspected of money laundering and for every undervaluation they are suspected of tax evasion. Adding to this is Section 171 of the CGST Act which reads as below:- 1) Any reduction in rate of tax on any supply […]
(1) Anand Escher Amar Charitable Cancer and Malty Specialty Hospital Society Vs. CIT (Exemption) Chandigarh 2019. 104 Taxman.com 369 (Amritsar Tribunal) 2019 176 ITD 424 (Amritsar) As the trust has not started activity as per Trust Deed. Registration was not granted. Tribunal observe that at the time of granting Registration only Object and genuineness are […]
With the globalization of Indian economy and increase in development of international trade the movement of workers across the world has also been increased. Social security is an important aspect while structuring the international assignments for the employees. Any social security benefit payable in the host country may become an added cost to the employer, […]
Quarterly Return Monthly Payment Scheme (QRMP Scheme) 1. What is QRMP Scheme? Currently, a registered person having aggregate turnover of up to ₹5 crores and furnishing GSTR 1 on monthly/quarterly basis, files GSTR 3B on monthly basis only. Under QRMP scheme, such registered persons shall be required to furnish GSTR 3B too on quarterly basis […]
