Explore the intricate details of Goods and Services Tax (GST) on Goods Transport Agency (GTA) Services by Road. Understand the definition of a GTA and the services exempt from GST. Delve into the taxable and non-taxable items, exemptions for specific recipients, and the applicable GST rates for registered and unregistered entities. Stay informed on the latest updates and make informed decisions regarding the taxation of GTA services in the realm of GST.
The Customs Department have recently started obstructing all the imports of alloy containing gold and platinum across the country and have created a ruckus in the industry since these are sensitive items whose rates fluctuate on a daily basis.
Unlock insights into the payment of lump sum amounts under the Maharashtra Settlement of Arrears of Tax, Interest, and Penalty Act 2022. Understand the eligibility criteria, conditions, and the impact on return dues. Delve into the provisions of Section 8(1)(b) and Annexure A/B, exploring the nuances of outstanding arrears, statutory orders, and return dues. Gain clarity on Commissioner of State Tax’s directives and make informed decisions regarding the settlement of arrears in compliance with the Act.
It’s discretionary upon the both parties of the contract to settle / close / washout the unexecuted contract at the rate fixed by it. In this regard, on mutual agreement, the rates which contracts settles is usually the market rate.
Explore the latest amendment to the definition of Small Company under Section 2(85) of The Companies Act, 2013, as per the MCAs Notification No. G.S.R. 700(E) dated 15th September 2022. Gain insights into key considerations, revised limits, and the impact on ease of doing business. Understand the exemptions provided to small companies, including aspects like cash flow statement preparation, CARO 2020 reporting, auditor rotation, and internal financial controls.
Explore the National Logistics Policy, Indias innovative initiative for efficient and cost-effective logistics management. Discover the comprehensive framework, vision, and impact on trade and business facilitation. Learn how the policy tackles issues, enhances competitiveness, and simplifies processes, ushering in a new era of seamless logistics infrastructure. Stay informed about the integrated digital logistics systems, standardization efforts, and human resource development.
Companies Act, 2013 is a landmark legislation with a far reaching impact on all companies incorporated in India. The act is more outward looking and has been developed with a motive to keep in align with the international requirements. It is expected to set the tone for a more modern legislation which enables growth and prospects in the corporate sector in India.
Company Legislation in India started with the Joint Stock Companies Act, 1850 which was based on the England Corporate Law, 1844. The act provided for the incorporation of the Company without obtaining a Royal Charter or Sanction by a Special Act of Parliament.
Explore Section 44ADA of the Income Tax Act, 1961, with the latest amendments. This special provision applies to individuals or partnership firms engaged in prescribed professions. Learn about presumptive taxation, allowable deductions, treatment of asset depreciation, and the audit requirement for income exceeding the tax-free limit. Stay informed with a comprehensive summary of Section 44ADA for efficient tax compliance.
Discover the importance of asset tagging for businesses in tracking and managing fixed assets. Learn about different types of asset tags, such as barcodes, QR codes, RFID tags, GPS trackers, and NFC tags, and how they contribute to theft prevention, maintenance schedules, and real-time tracking. Find out the significance of data gathered in a digitized asset register, including location, users, purchase history, maintenance schedules, and depreciation value. Ensure a comprehensive tagging process for a holistic view of owned assets with data cleaning, uploading, initial tagging, and updating of Fixed Asset Registers (FAR).
