Simplified GST Series -Section 31-34/CGST ACT 2017/PART-16- Article covers Section 31- Tax Invoice under GST, Section 31 A- Facility of digital payment to recipient, Section 32- Prohibition of unauthorised collection of tax, Section 33- Amount of tax to be indicated in tax invoice and other documents under GST and Section 34- Credit and debit notes […]
Equalization Levy Background of Equalization Levy:- Equalization Levy was introduced in India in 2016, with the intention of taxing the digital transactions i.e. the income accruing to foreign e-commerce companies from India. It is aimed at taxing business to business transactions. To bring in clarity in this regard, the government introduced vide Budget 2016, the […]
All units with Goods and Services Tax Identification Number (GSTIN) listed against the same Permanent Account Number (PAN) shall be collectively treated as one enterprise and turnover and investment figures for all such entities shall be seen together and only the aggregate values will be considered for deciding the category as a micro, small or medium enterprise.
In an Application filed before AAR under GST, Gujarat by Shree Dipesh Anilkumar Naik Applicant is the owner of the land, who develops the land with an infrastructure such as Drainage line, Water line, Electricity line, Land levelling etc. as per the requirement of the approved Plan Passing Authority. Scope of Work 1. Forming land […]
Step by Step Procedure on Trust Formation Every person in this world will earn money by doing business. That means they are selling Services/Goods by fixing a price. Simply, they are expecting something. But the same person will do some deeds without expecting anything. That is Selfless Service. The Person can lawfully do the same […]
The Central Board of Indirect Taxes and Customs (CBIC) has issued Central Tax notifications under GST Laws to implement the relief measures due to outbreak of Covid-19 and Nationwide lockdown. Also recently Government has announced to roll out facility file NIL return in Form GSTR 1 through SMS. Earlier NIL GSTR 3B was announced to […]
Meaning of Dividend: A Dividend is payment made by a Company to its shareholders, usually as a distribution of profit. Compliance Procedures to be followed – 1. Whether Section 8 Company? If yes, it is prohibited to declare dividend. 2. Whether BR recommending Dividend is passed? 3. Whether OR has been passed to declare Dividend […]
Why is it beneficial to Deposit TDS before 30th June despite an extension of TDS Return Due date? As we all know that the government has extended the due date of Quarter 4 of FY 2019-20 to 31st July 2020. But it doesn’t mean Due date to Deposit TDS with interest rate at 9% p.a. […]
1. This article has been discussed in detailed regarding the determination of Residential Status of an Individual in India as per the Income Tax Act,1961-2020. 2. For computing the taxable income of an Individual, it is important to determine the residential status of an individual in India as per the Income Tax Act,1961 for each […]
In an Application filed before AAR under GST, Rajasthan by M/S ARG Electricals Pvt. Ltd Facts: Applicant received the work order from AWNL (Government Entity)- first work order is for the ‘supply of materials/equipments’ for Providing of Rural Electricity infrastructure and the second work order is for erection, testing and commissioning of the supplied goods. […]
