It is a well known fact that a single GST, all over the country, is the ideal structure for taxation of goods and services. But looking into the Constitutional framework of our country we understand that, at present, dual GST is the most acceptable structure to begin with. It may lead to introductions of a single GST at a later stage. We believe that with harmonious principles of taxation, it is possible to attain the benefits of Single GST even though it may be called Dual GST.
China has been the first nation to come out of the dark clouds of recession. In my past articles I have tried to depict a picture of the Chinese economy as well as draw correlation with our Indian economic growth. We have seen Chinese economic growth from all sectors some correlated with Indian economic growth.
Lenders are likely to ask RBI to lower interest rate on savings accounts to enable them to comply with the new directive requiring interest rates on these accounts to be calculated on daily balances. Interest rates on savings accounts are determined by the regulator are presently fixed at 3.5%.
Section 26. There may be in the case of public company limited by shares and there shall in the case of an unlimited company or a company limited by guarantee or a private company limited by shares, be registered with the memorandum, articles of association signed by the subscribers of the memorandum, prescribing regulations for the Company.
Recently in one of the cases of educational institutions, the Assessing Officer (AO) issued a show-cause letter calling for an explanation from the assessee, as to why it should not be treated as an association of persons (AOP), engaged in a profit making business. In support of the aforesaid allegation, the Assessing Officer excluded the expenditure on land, building, equipment, furniture, etc., from the income applied towards the objects of the trust and thereby worked out surplus,
Repos in corporate debt securities will be for a minimum period of one day and a maximum period of one year, the RBI said in a release adding that only listed corporate debt securities which are rated AA or above by the rating agencies can be used for repo.
In the case of Schefenacker Motherson Ltd v. ITO, ITA No. 4459/DEL/07 for AY 2003-04 and schefenacker Motherson Ltd v. DCIT, ITA No.4460/DEL/07 for AY 2004-05, the Delhi Bench of the Income-tax Appellate Tribunal (the Tribunal), held that cash profit on sales “CP/Sales” or cash profit on total cost excluding depreciation “CP/TCdep”
Explore the Delhi High Court verdict on the Chief Justice of India’s office under RTI Act. While notes, jottings, and draft judgements are exempt, concerns about transparency linger. Learn more about the implications and nuances.
Ahmedabad ICAI elections yield no clear mandate as both Vibrant-8 and Care panels secure four seats each out of eight. Get insights on the outcomes and notable winners like Aniket Talati, setting records in the CA Institute.
Delhi HC rejects Supreme Court’s claim on CJI’s office being exempt from RTI, citing checks and balances. Upholding accountability, the verdict emphasizes well-defined standards for judicial independence.
