CESTAT Held that, no service tax is payable on notice pay in lieu of sudden termination, as it does not give rise to the rendition of service either by the employer or the employee, and compensation for failure under a contract cannot be consideration for service. Further held that such contract cannot be termed as declared service.
The company has received a remittance of Rs. 50,00,000 from its subscriber on 17.05.2021 in its bank account towards share capital contribution for subscription of equity shares of the company and the Board vide its resolution dated 18.05.2021 given its approval for issuance of share certificates to the subscribers to the Memorandum of Association and […]
In an important communication sent to Finance Minister, Nirmala Sitharaman,CAAT urged for complete withdrawal of the proposed GST hike on Textiles as same is going to be a big burden on Traders & consumers and is also against the AatmaNirbharBharat vision of the Government. Confederation of All India Traders ‘Vvapar Bhawan’ 925/1, Naiwala, Karol Bagh, New Delhi.110005. […]
TDS, as a concept, was introduced under Income-tax Act by the government to collect income at its very source itself rather than waiting for the taxpayers to pay tax. This enables ease of tax collection, tracking, and gathering of information during the year in which transaction is carried instead of waiting for the assessment to be conducted.
ICAI declares CA Final (New & Old Scheme) & CA Foundation Examination December 2021 Pass percentage & List of Top 3 students. This post contains Pass Percentage and Toppers of Chartered Accountants Final (New Scheme) Examination, Chartered Accountants- Final (Old Scheme) Examination and Chartered Accountants- Foundation Examination Held In December 2021. ICAI Press Release The […]
Whether Rajasthan Tax Board was justified in law in holding that respondent cannot be hold responsible for amount not deposited by selling dealer and allowed benefit of Input Tax Credit which ultimately will amount to double jeopardy to State as selling dealer has not deposited tax whereas subsequent dealer has claimed benefit of Input Tax Credit.
UNION BUDGET 2022 – KEY DIRECT TAX PROPOSALS – ROADMAP FOR FUTURE The Union Budget 2022 was presented on 1st February, 2022. This Budget seeks to lay the foundation and give a blueprint to steer the economy over the Amrit Kaal of the next 25 years. It continues to build on the vision drawn in […]
It is noticed that there is a lack of basic knowledge of law w.r.t. existing laws which are applicable and which are applied in the registration for GST. The following steps shall be followed by the various Jurisdictional Commissionerate prior to the staffing and delegation of work relating to GST Registration:
Average monthly gross GST collection for third quarter of FY 2021-22 is Rs.1.30 lakh crore Record GST collection of Rs.1,40,986 crore reported for January, 2022 The average monthly gross Goods & Services Tax (GST) collection for the third quarter of FY 2021-22 has been Rs.1.30 lakh crore against the average monthly collection of Rs.1.10 lakh […]
More than 43.34 crore Permanent Account Numbers (PANs) linked with Aadhaar till 24.01.2022 As on 24-01-2022, the total number of Permanent Account Numbers (PANs) linked with Aadhaar is 43,34,75,209. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Lok Sabha today. The Minister […]
