Only 11 days left for non-filers to file & erring taxpayers to revise ITR for AY 2019-20. Avoid penalties & comply with Income Tax requirements.
As we all now Finance Act 2020 has introduced a New Slab rate for Individuals from Current Financial Year Which has created a lot of confusion regarding which tax regime will be best for us. Let’s discuss the new tax regime and comparative analysis to resolve the confusion Applicability Salaried employees, having no business income, […]
1. Overview of Voluntary Retirement Scheme. As the name suggests a voluntary retirement scheme is an option given by an organization to its current employees to take early retirement before the actual date of retirement. Unlike a compulsory layoff, this scheme is optional to employees, and decision about whether they want to continue with the […]
India continues to be an attractive destination for the investors, including non-resident Indians (NRIs). Investments made by NRIs are generally treated as ‘foreign investment’ from the Indian foreign exchange regulations perspective. These regulations have been liberalized over the years and have facilitated remittances from overseas, making India one of the top recipients of foreign remittances […]
Renting of Commercial Property is treated as continuous supply and hence GST is payable on accrual basis. Now the question arises whether the rent is payable for such lockdown period and if yes, what would be the value of supply in case the rent amount is being modified or postponed or waived off .
The Consumer Protection Act, 2019 received the assent of the President of India and was published in the official gazette on 9 August 2019. New Consumer Protection Act will replace 34 year old act and come into effect from July 20, 2020.
1. Whether GST is payable in respect of goods procured from outside India and such goods not brought to India? 2. Whether GST is payable in goods are shipped directly from the foreign vendor’s premises to customer’s premise (located outside India)?
In India, business is commonly managed by the family member. When the business is privately held and is considered the participation from the junior member(s) of the family is also welcomed. Hence it is feasible to use skills and use the contribution of those members on the business part the contractual & legal part is […]
1. Revocation of cancellation means revalidation of cancelled registration. Section 30 of the CGST Act 2017 read with Rule 23 of CGST Rules provide for revocation of cancelled registrations. 2. Application for Revocation of Cancellation : Section 30(1) A registered person, whose registration is cancelled by the proper officer on his own motion, may apply […]
Be it any law, it’s all about the interpretation of various words and phrases which brings in divergent views by professionals. One such phrase which has been used in GST law is ‘in respect of’, the interpretation of which can change the dimensions of the views held by one.
