CA Vivek Jalan
21 articles written by CA Vivek Jalan on ConsultEase.
342nd Issue: 20th March 2022- 26th March 2022
The Government of India has introduced the tax implications for cryptocurrency for the first time in the Union Budget 2022, while the Internal Revenue Service (IRS) of the United States (US) first addressed cryptocurrencies in 2014. Let us see the differences in the income tax
341st Issue: 13th March 2022- 19th March 2022
The goal of every tax administration is to foster voluntary In a significant step towards Atmanirbhar Bharat, the Central Board of Indirect Taxes & Customs (CBIC) has reduced the compliances required under the Customs (Import of Goods at Concessional Rate of Duty-IGCR) Rules, 2017 and
340th Issue: 6th March 2022- 12th March 2022
The goal of every tax administration is to foster voluntary compliance with the tax law, and it seeks to accomplish this through a mix of measures directed at rendering high-quality service to the taxpayers, putting in place a fair and responsive administration, and establishing a
339th Issue: 27th February 2022- 5th March 2022
Over the past six months, the taxpayers witnessed the gradual implementation of various e-invoicing provisions based on the turnover of the taxpayers. Various notifications have been issued, prescribing the taxpayers, to comply with e-invoicing requirements. The CBIC lowered the threshold for mandatory issuance of e-invoice
338th Issue: 20th February 2022- 26th February 2022
Since the implementation of GST, the claim of the input tax credit has witnessed multiple amendments with Government’s intention to allow ITC on invoices/debit notes which are uploaded by the suppliers in GSTR-1. At the inception of GST, the availment of ITC was envisaged as
TDS U/s 194r & Its Impact on Large & Small Business
In the recent budget in Income Tax, it is proposed to impose a TDS on business promotion expenditure expended by an organisation. It has far-reaching implications, even in the hands of the recipients of the business promotion Expenditure. Here we have discussed not only the
337th Issue: 13th February 2022- 19th February 2022
The newly proposed Section 194R of the Income Tax Act in its present form would be a big compliance challenge for businesses as there are multiple types of perquisites & benefits that are extended to their dealers/ distributors/agents/ channel partners etc with the objective of
336th Issue: 6th February 2022- 12th February 2022
The Hon’ble Finance Minister Smt. Nirmala Sitharaman on 01st February 2022 presented the Union Budget 2022. The budget is a vision document and has given ample scope for the youth to turn into entrepreneurs and in turn, become employment generators. Recently, there has been a
335th Issue: 30th January 2022- 5th February 2022
EDITORIAL Friends, Recently, a detailed guideline has been issued by The Central Board of Direct Taxes (CBDT) in the matter of how taxes would be calculated on maturity proceeds of ULIPs vide Circular No. 2 of 2022 dated 19th January 2022. The CBDT, which frames
334th Issue: 23rd January 2022- 29th January 2022
EDITORIAL GST on transactions between Head office and Branch office has been a contentious issue since the inception of GST as the said transactions were not liable to any tax under the pre-GST regime. A recent ruling by the Appellate Authority for Advance Ruling (AAAR)
333rd Issue: 16th January 2022- 22nd January 2022
EDITORIAL As a facilitation measure for taxpayers & for assisting the taxpayers in doing a correct self-assessment, a new functionality of interest calculator is being released in GSTR-3B. This functionality will arrive at the system computed interest on the basis of the tax liability values
332nd Issue: 9th January 2022- 15th January 2022
The Harmonized System of Nomenclature or HSN is an internal system of naming goods. Conceptualized by the World Customs Organisation, the main purpose of HSN is to classify goods in a systematic and logical manner. This brings in a uniform classification of goods and facilitates