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9th Revised Background Material on GST Volume-II: ICAI
9th Revised Background Material on GST Volume-II: ICAI Chapter 12 Assessment Sections 59. Self-assessment 60. Provisional assessment 61. Scrutiny of returns 62. Assessment of non-filers of returns 63. Assessment of unregistered persons 64. Summary assessment in certain special cases Rules 98. Provisional Assessment 99. Scrutiny
Gujarat HC in the case of Material Recycling Association of India
Intermediary Services in Cross Border Transactions are liable to CGST & SGST and it is not ultra vires Gujarat HC upholds that intermediary services in cross border transactions are liable to CGST & SGST and it is not ultra vires – Bombay HC decision is
GST Audit Checklist
GST Audit Checklist Client’s Name Financial / Accounting Year Audit Checklist S.NO. Points To be Checked Checked By Yes No NA Remark 1 GST Registration Certificate 1.1 Have you checked whether the Supplier has applied for New Registration or has
TCS on Sales & Overseas Tour Program to be Effective from 01.10.2020
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 24th July 2020 INCOME-TAX G.S.R. 464(E).—In exercise of the powers conferred by section 197 and 206C read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central
Instruction Related to Indian AS to be Followed by the NBFCs Issued by RBI
To Non-Banking Financial Companies and Asset Reconstruction Companies implementing Indian Accounting Standards Madam / Sir, Implementation of Indian Accounting Standards Please refer to paragraph 3 of the Annex to our circular DOR (NBFC).CC.PD.No.109/22.10.106/2019-20 dated March 13, 2020, on the captioned subject, in terms of which
Section 194J – TDS on Professional or Technical Fees
Meaning and applicability of Section 194J – TDS – Professional, Technical Fees Section 194J – TDS – Professional, Technical Fees- Any person who is paying fees to any resident person for specified services, then TDS is required to be deducted u/s 194J @ 10% if
Section 194C – TDS on payment to contractor or subcontractor
Meaning and applicability of Section 194C Section 194C deals with the provisions for tax deduction at source at the time of payment to contractors/subcontractors. This section says that any person who pays money to the resident contractor (or subcontractor) for carrying out any work (including
TDS Provisions under Income Tax Act, 1961 for FY 2019-20
TDS Provisions under Income Tax Act, 1961 for FY 2019-20 TDS stands for tax deducted at source. As per income tax act, any specified person making a specified payment is required to deduct tax at specified rates, if the payment exceeds a certain threshold. The
Notification No. 21/2015-2020
Notification No. 21/2015-2020 Subject:- Amendment in the Export Policy of Personal Protection Equipment/ Masks S.O.(E) In exercise of powers conferred by Section 3 of the Foreign Trade (Development & Regulations) Act, 1992 (No. 22 of 1992), as amended, read with Para1.02 and 2.01 of the Foreign
Gauhati HC in the case of M/s SC Johnson Products Pvt Ltd
Case Covered: M/s SC Johnson Products Pvt Ltd Versus The Union of India Facts of the Case: A petitioner is an industrial unit, which had set up its manufacturing unit in the North-eastern region on the basis of certain industrial policy by which 100% exemption
Kerala HC in the case of Alfa Group Versus The Assistant State Tax Officer
Case Covered: Alfa Group Versus The Assistant State Tax Officer Facts of the Case: The challenge in the Writ Petition is against Ext.P2 notice by which, goods belonging to the petitioner were detained in a parcel godown, on the ground that the value quoted in
Karnataka AAAR in the case of M/s WeWork India Management Private Limited
Case Covered: M/s WeWork India Management Private Limited Facts of the Case: The Appellant is a private limited company engaged in providing shared workspace/ Office Space to the freelancers, start-ups, small businesses, and large enterprises. The Appellant provides a “space-as-a-service” membership model wherein it offers