The power to impose sales tax/VAT flows from Entry 54 of List II of Schedule VII of the Constitution of India. Under Article 366(29A) of the Constitution of India, ‘tax on the sale or purchase of goods’ includes (a) a tax on the transfer, otherwise than in pursuance of a contract, of property in any […]
E-Commerce is here to stay. If the pandemic wasn’t enough to impress this point, suspension of international travel, visa delays and immigration bans are only increasing adaptability to E-Commerce amongst the masses. Recognizing that electronic transactions have far reaching implications with respect to taxation, the Indian legislature has put in place certain tax measures with […]
Input Tax Credit is the core subject under GST law, the very objective of GST to provide seamless credit flow and neutralize cascading effects of taxes. Any restriction ITC will enhance transaction cost of the taxpayers and slow down of business of the taxpayers, consequently the restriction of ITC will defeat the very objective of […]
In this Editorial the author shall elaborate the procedures for registration of an entity under ‘Startup India’, an initiative by the Government of India launched in January 2016. Through this scheme, the government is looking forward to driving sustainable economic development and enhance employment opportunities in India. The Procedure to register Startup is simple and […]
Ethics is often thought of as a question of personal scruples of the organization/entrepreneur. However, the reality is far from that. Organizations that shy away from providing a decisive leadership that believes in facilitating an ethical environment for the conduct of business dealings knowingly profits from corporate misdeeds. The Corona Virus pandemic has unfortunately swamped […]
We are all spending a disproportionate amount of time trying to figure how the world will be after this Corona saga. Some may work from home; some fear deeprecession; some feel complete government control of our lives, what will it be, we just don’t know! However, we all love living thinking about an uncertain tomorrow. […]
Many of us are confused with New GST Returns forms, but it’s not so confusing if we differentiate Old Returns with New GST Returns, let’s look after one by one for easy learning without any delay. A) What we have in Old Return? B) What we have in New Return? C) What is the most […]
MSME History ♣ Support measures for Micro, Small & Medium Enterprises are contained in the 2 Acts and notifications issued: ‘The Industries (Development & Regulation) Act, 1951’ & ‘The Micro, Small and Medium Enterprises Development Act, 2006’ Need for MSME division Under Industries (Development & Regulation) Act, manufacturing licence will be given only after “full […]
Learn all about ITR filing for AY 2020-21. Find out which forms are currently available and the eligibility criteria for ITR-1 (Sahaj).
NBFCs are registered under the companies act, 2013/1956 and are engaged in the business of loans and advances, acquisition of shares/stock/bonds, debentures and securities issued by government. NBFCs are the financial institutions which function according to set of rules and regulations prescribed by the Reserve Bank of India (RBI). Further, these rules and regulation keep […]
