Completed 3 years in operation but still struggling to rise-up to the average expectations of the stakeholders; GST has proved to be a loop of extension of compliance deadlines. One such compliance is the filing of Annual Return (Form GSTR 9) and GST Audit (Form GSTR 9C).
The global tax landscape is constantly evolving to keep pace with ever-changing business models and structures. Introduction of the Base Erosion and Profit Shifting (BEPS) project by OECD/G-20 in the year 2016 was one such significant international stepsince the advent of bilateral tax treaties, wherein more than 100 countries collaborated to block tax avoidance strategies that exploit gaps and mismatches in tax rules across jurisdictions.
1. Relevant Section- Section 15 of the FEMA 1999 2. Maximum time of application-Within 180 days from the date of contravention under section 13 of FEMA 1999 3. Adjudicating Authority-RBI 4. Section 13 of the FEMA- General penalties under FEMA- if any person contravenes any provisions of FEMA, Rules, Regulations, Notifications, Direction or order issued […]
Our purpose of investment is to earn good returns with minimum risk to reach our desired goal, hence one need to continuously monitor their investments & re balance whenever required. We will discuss when one need to take steps towards the change in his portfolio. If our investment is subject to higher risk then there […]
The Companies Act 2013 introduced provisions related to fulfillment of Corporate Social Responsibility by certain companies (net worth Rs. 500 crores or more; or Turnover Rs. 1000 crores or more; or Net Profit of Rs. 5 crores or more) by making certain eligible expenditures/ payments. Once companies cross the threshold limit for CSR, they are required to spend at least 2% of their average net profits of 3 preceding years in eligible CSR activities.
Reserve Bank of India vides its communication dated 18th August 2020 has placed in its web site a draft framework for the grant of recognition to an industry association as a Self-Regulatory Organization (SRO) for Payment System Operators (PSOs). The SRO shall cover operators in all segments of payment systems and will be expected to […]
At its etymological core, ‘e-commerce’ means the process of buying and selling products and services through the use of the internet. The Organisation for Economic Cooperation and Development (OECD) very cogently defines an e-commerce transaction as the sale or purchase of goods or services, conducted over computer networks by methods specifically designed for the purpose […]
With monsoon touching almost all parts of the nation, it is bringing the much-needed relief from the summer heat. Monsoon is not only relief from the hot drenching summers but has its share of problems. One such issue that is common across all urban jungles is waterlogging. Clogging of waste and dirt that does not […]
1. Relevant Provision Schedule 1 to Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulations. 2. When these provisions attract? In case if investee company receiving FDI for issue of shares 3. Timelines Within 180 days of receipt of foreign investment and requires filling of FCGPR with RBI regarding […]
Principles of mutuality will still prevail under the GST regime and hence the concept of applicability of GST on co-operative societies would remain to be a bigger challenge until finality is attained.
