XBRL (eXtensible Business Reporting Language) is a data-rich dialect of XML (Extensible Markup Language), the universally preferred language for transmitting information via the Internet. It was developed specifically to communicate information between businesses and other users of financial information, such as analysts, investors and regulators. XBRL provides a common, electronic format for business reporting. It does […]
NOTICE OF POSTAL BALLOT [Pursuant to Section 110 of the Companies Act, 2013 read with Rule 22 of the Companies (Management and Administration) Rules, 2014] NOTICE is hereby given to the shareholders of ABC SERVICES LIMITED (the “Company”) that the resolutions appended below are proposed to be passed by the Shareholders through Postal Ballot (“Postal […]
PAS-6 Reconciliation of Share capital Audit Report (Half yearly basis and its applicability) Provisions As per sub rule 8 of Rule 9A of the Companies (Prospectus and Allotment of Securities) Rules, 2014, company every unlisted public company governed by this rule shall submit Form PAS-6 to the Registrar with such fee as provided in Companies […]
Due to the ongoing pandemic considering the difficulties for the tax payers, various relaxations for the tax payers were provided by the GST council. This is in order to reduce the burden & to ease the return filing process which was hindered due to the lockdown across the county. Few were waiving off of late […]
This article basically explains the concept of Input Tax Credit under the GST regime. Its procedure, required documents to avail the ITC, Condition, time limit to avail the ITC, Apportionment of ITC based on ITC used Partly for Business and partly for other purposes, partly for effecting Taxable Supply and Partly for exempted supply. Input […]
Simplified GST Series-Audit/Section 65-66/CGST Act 2017 Section 65- Audit by tax authorities- (1) The Commissioner or any officer authorized by him, by way of a general or a specific order, may undertake audit of any registered person for such period, at such frequency and in such manner as may be prescribed. (2) The officers referred […]
Practical Issues faced while filing Inverted Duty Refund in Statement GST_ REFUND _S01A-Solutions to them… An inverted duty structure is a situation when the tax on inputs is higher than that on output leading to accumulation of credit. Refund under Inverted Duty Structure can be claimed as per Clause (ii) of sub-section (3) of section […]
CA.K.Siva Rama Kumar (with special reference to threshold limit applicability to LCOs) (A good number of Articles on the GST liability of the Local Cable Operators(LCOs) expressed a view that the LCOs are ‘agents’ of Multiple System Operators (MSOs) and suggested compulsory registration obligation as per Sec.24(vii),CGST Act, 2017 and consequently held the LCOs as […]
Rajasthan HC allows bail to Chartered Accountant allegedly involved in Rs 100 crore GST scam Input Tax Credit (ITC) basically means reducing the taxes paid on inputs from taxes to be paid on output. When any supply of services or goods is supplied to a taxable person, the GST charged is known as Input Tax. According […]
The article is a discussion to understand the significance of structuring of contracts for tax purposes. Structuring of contracts are predominantly undertaken by splitting one contract into multiple contacts, reasons being, no tax position, separate taxes on supply of goods and services, maximising the benefits of exemptions, etc., What is a cross fall breach clause? […]
