(a) For Tax collecting, Government has 2 (Two) Agencies, viz. Government appointed Tax Officers (TO) and Private Tax Deductors (PTD). PTD are treated as the Assessees under the I. Tax Act (Act). Both help the Government to assess & collect tax from the Tax Deductors.
Article explains Refund in GST, Type of Refund in the GST, Time limit for GST refund claim, Details of the circular issued by Department in relation to the GST refund, Scope of GST refund, Process for the GST refund as per CGST Act,2017, Provisional GST Refund, Interest in the GST refund and Other issue and […]
In this article I will discuss – 7 controversies in GST refund for exporters of services. These are elaborated as below: – 1. Forex Receipt – FIRC / BRC In case of service exporters, GST refunds are available on the basis of receipt of convertible foreign exchange. And to evident the payment against export invoices, […]
Analysis of GST applicability on Directors Remuneration – Part II (Circular NO 140/10/2020- GST dated 10-06-2020) Further to my article on GST Applicability on Directors Remuneration – Part I, I have mentioned my views on the said subject. In my earlier article I had also analyzed 3 (Three) Authority of Advance Rulings on the said […]
New Income Tax Regime Vs Old Income Tax Regime The Finance Minister introduced several proposals in relation to the personal tax regime in the Union Budget 2020 presented in the parliament on February 1, 2020. The Budget 2020 introduced a new income tax regime for individual taxpayers. Bringing a revolutionary change in direct tax rates, […]
Note on Taxability of Interest Income from fixed deposits made out of corpus fund and maintenance surplus. PRINCIPLES OF MUTUALITY The Resident Welfare RWA’S( RWA) is primarily formed with a purpose to maintain, upkeep and provide amenities to the apartment owners/occupiers. Maintenance fee is collected every year for the purpose of the same. Rwa’s […]
In India, the biggest problem with Laws is that anyone can file the case against anyone even with a small iota of evidence as procedure are not taken seriously in trial and lower courts. For ex., it is the onus on the Court to ensure all the facts of the case at the time of […]
The first and foremost action shall be to accept the notice whatever it may be as no-acceptance of the notice means Deemed to be good service and hence it is better to know the contents of the notice and then make the strategy to reply the notice or not and if so, then how. Here […]
Section 138 of Negotiable Instrument Act (As amended) [Section 138] is popularly called as Cheque Bouncing case and this is one of the most trusted and success legal remedy being availed almost by all at their first instance till the new law came under Insolvency and Bankruptcy Code for its various benefits and among all […]
Why it is Dangerous to Avail Online Business and Legal Services in Business or Else? There are many online legal services offering services such as standard business templates, online business formation companies and or online legal services offering cheap services and forms and templates but what is the reasons that you should not use them? […]
