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Renting/ Leasing/ Licensing/ Transfer of Right to Use of Goods, Immovable Property and Intellectual Property Rights
Renting/ Leasing/ Licensing/ Transfer of Right to Use of Goods, Immovable Property and Intellectual Property Rights Renting/ Licensing/ Transferring the Right to use can be classified under four categories 1. Immovable Property a. Residential Property for Residential Use- SAC 9972 b. Residential Property for Commercial
CA Rachit AgarwalApr 30, 2020SEARCH, SEIZURE AND RELEASE OF SEIZED GOODS
SEARCH, SEIZURE, AND RELEASE OF SEIZED GOODS CONSTITUTIONAL VALIDITY OF SEARCH AND SEIZURE A search by itself is not a restriction on the right to hold and enjoy the property. No doubt a seizure and carrying away is a restriction of the possession and enjoyment
CA Rachit AgarwalApr 30, 2020
GST ComplianceTaxability of Joint Development Agreement
Taxability of Joint Development Agreement Joint Development Arrangement (JDA) has always been a bone of contention between the assessee and the tax department. The dispute lies is in measuring the correct amount of tax both under Direct and Indirect Taxes. Hence it has always been
CA Manoj NahataApr 30, 2020Updated provisions of Place of Supply under GST
Provision on Place of Supply under GST Determination of Place of Supply What is the place of supply in GST? GST is a destination-based tax, i.e., the goods/services will be taxed at the place where they are consumed and not at the origin of supply.
GSTR 2A Reconciliation Tool
GSTR 2A Reconciliation Tool The wrong availment of ITC is illegal and could attract both heavy interest and penalty. It is always suggested to reconcile your GSTR 2A with your books as often as possible. There is no Excel tool in the market to reconcile
Utkala MeherApr 29, 2020Input Tax Credit Reversal on Discount Received
Input Tax Credit Reversal on Discount Received DISCOUNT RECEIVED- ITC REVERSAL? As a matter of Trade Policy, the suppliers allows the discounts on the goods supplied. Discounts may in nature of 1. Turnover Discount 2. Volume Discount based on Quantity 3. Value Discounts 4. Bonus
CA Rachit AgarwalApr 29, 2020Updated provisions of Valuation under GST
Valuation under GST SECTION 15: VALUE OF TAXABLE SUPPLY[RULE 27 TO RULE 35] As GST is payable as a percentage of the value of supply, it is thereby important to determine the value of taxable supply as per the GST Law. Section 15 of the
The Prohibition of Benami Transactions Act, 1988
The Prohibition of Benami Transactions Act, 1988 1. Section 3 of the Prohibition of Benami Property Transactions Act, 1988 states that “no person shall enter into any benami transaction.” 2. What is a Benami transaction? According to section 2(9), “benami transaction” means – (A) a
CA Nirmal GhorawatApr 29, 2020Updated provisions of Supply under GST
Supply under GST The determination of the taxable event is one of the most important matters in every tax law. It is that event which on its occurrence creates or attracts the liability to tax. The taxable event under GST shall be the supply of goods
Do Companies Act, 2013, and Rules Empower The ROC to De-activate “DIN” of Any Director Which was Allotted Under Section 154 of The Companies Act, 2013 ?.
Do Companies Act, 2013, and Rules Empower The ROC to De-activate “DIN” of Any Director Which was Allotted Under Section 154 of The Companies Act, 2013 ?. In this article, an attempt has been made whether the ROC has power and jurisdiction to de-activate the
Advocate Pradeep KumarApr 29, 2020Updated provisions of Time of Supply under GST
Time of Supply under GST After ascertaining whether a transaction falls under the definition of supply, we come to the next pertinent issue, the date of the charging event i.e. the date when the liability of the tax arises which is covered by the provisions
PMT 09 effective from 21-4-2020
PMT 09 effective from 21-4-2020 The forms to shift the tax deposited in one head to other is made effective. PMT 09 effective from 21-4-2020. The day when it was made effective on the portal. You can shift wrongly paid tax using it. Remember if