The taxability of director’s remuneration under GST has caused a furore throughout the country due to a couple of Advance Ruling judgements in case of M/s Alcon Consulting Engineering Pvt Ltd by Karnataka Advance Ruling Authority and the more recent M/s Clay Craft India Pvt Ltd by Rajasthan Authority for Advance Ruling.
Corona, lock down and economy along with the compulsion and strength of the Indian people & Government Corona ! An epidemic! Who thought a few months before today that life would become something like this, everything would stop and we would all be living life under a bond, maybe no one else can think like […]
REPORT OF WORLD BANK ON ECONOMIC CRISIS: The World Bank said the Coronavirus flare-up has seriously disturbed the Indian economy, amplifying prior dangers to its viewpoint. In its South Asia Economic Update: Impact of COVID-19, the World Bank assessed the Indian economy to decelerate to 5 per cent in 2020 and anticipated a sharp development deceleration in monetary 2021 […]
The FAQ explains that commitment made towards the PM Care funds qualify as CSR, reserves given to Chief Minister’s Relief Fund doesn’t qualify as CSR. The Ministry of Corporate Affairs has given a FAQ on what qualifies as a contribution towards CSR exercises of the corporate in their battle against COVID-19. The FAQ explains that commitment made towards the PM Care finance qualifies […]
The World economy is extended to take a major step back with the advent of Coronavirus outbreak. The Indian Government has been taking practice steps to address the issues concerning the citizens and businesses. On 24th March 2020, the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman announced important relief measures on statutory and […]
50 FAQs issued by MCA on Companies Fresh Start Scheme (CFSS), 2020 and LLP Modified Settlement Scheme, 2020 Thus, Ministry has launched a scheme known as ‘Companies Fresh Start Scheme, 2020‘ and ‘LLP Modified Settlement Scheme, 2020′ condoning the delaying filing the above mentioned documents with Registrar, it relates to waiver of additional fees and […]
Provisions relating to Composition Scheme under GST have been provided under Chapter III of CGST Act which provides for provisions in so far as those relate to levy and collection of tax under GST laws.
Due to the lockdown and COVID-19 effect, work from home is being followed in all companies and businesses. But the new norm of working from home is bringing a few challenges for start-ups and even for bigger corporations too. One of the challenges faced by businesses is that employees who are responsible for filing tax […]
Refund of Unutilized ITC On Capital Goods Under Export of Goods or Services Without Payment of Tax In order to understand that whether refund of unutilized ITC on Capital Goods is available or not under the case of export of goods or services (Zero-Rated Supplies) without payment of taxes, following provisions should be taken under […]
Major Concepts in E-Way Bill Concepts of Acceptance , Rejection and Updating of E-Way Bill E Way Bill introduces a sense of urgency in the process of movement and promptly recording the transactions. (A) Acceptance & Rejection Rule 138(12) of CGST Rules 2017 as updated 9th October 2019 talks that Where the person to whom […]
