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GST ComplianceGST on Liquidated Damages – A Complete Detail
Damages means,” reparation for the aggrieved person in money terms in lieu of suffering loss or injury”. Liquidated means,” to sell something in order to get cash”. Liquidated Damages,” are the damages in the monetary form which are received by the aggrieved party from the
GST LitigationCESTAT Order in the case of Ruchi Soya Industries Ltd
Case Covered: Ruchi Soya Industries Ltd Versus Commissioner Of Customs Facts of the Case: M/s. Ruchi soya appellant herein has filed an impugned appeal to assail the order in appeal No. 380-18-19 dated 19.2.2019. the facts in brief given rise to this appeal are as
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GST ComplianceC Form Under GST Scenario [Updated Information]
As we all know that after the implementation of GST from 01.07.2017, it has subsumed a number of states and Central legislatures. Central Sales Tax Act 1956 (hereinafter, called CST ACT) was amongst those acts which got partially subsumed as there are still
GST ComplianceIs Income Tax & GST Applicable on Cryptocurrencies?
Cryptocurrencies are one of the fastest-growing digital assets. A cryptocurrency is a digital currency designed to work as a medium of exchange or can be used as a form of payment online for Goods & services or can be traded on the cryptocurrency exchange. Few
Income Tax Compliance308th Issue of Tax Connect
Tax Calendar Due date Form/Return/Challan Reporting Period Description 30th July 2021 Form-27 D April to June 2021 Quarterly issuance of Certificate of collection of tax at source (TCS) 31st July 2021 Form No. 24Q April to June 2021 Quarterly Statement of deduction of tax at
How to Compute 5% Cash Transactions Limit For Tax Audit U/s 44AB
How To Compute 5% Cash Transactions This writes up explains how to compute the limit of five percent of the aggregate of transactions for the purpose of tax audit u/s 44AB. As we are all aware that this is an amendment brought by the finance
Software (IT)Government notifies the draft of Drone Rules, 2021
Introduction: Central Government notified the Draft Drone Rules, 2021, for the information of all persons likely to be affected thereby. These rules will be taken into consideration after 5th August 2021. By this notification, Central Government invites suggestions or objections regarding the Draft Drone Rules,
Features of Various Credit Schemes Available for MSMEs and How to Apply for Them?
Having weathered a couple of massive tidal waves of statutory disruptions of ‘Demonetisation’ and ‘GST,’ the MSME sector was just in the striking distance of the wharf. Little did they know that they have to encounter two more tsunamis of the devastating Corona pandemic, but
GST ComplianceTime Limit For Compliances And To Issue Show Cause Notice & Filing Appeals
Brief Discussion in light of Apex Court Judgement & CBIC Circular dated 20.07.2021 1. The Hon’ble Supreme Court vide order dated 23.03.2020 has directed that the period of limitation in filing petitions/ applications/ suits/ appeals/ all other proceedings, irrespective of the period of limitation
GST LitigationPatna HC in the case of Pankaj Sharma V/s UOI
Case Covered: Pankaj Sharma Versus Union of India Order of the Hon’ble Court: Learned counsel for the parties desire the matter be taken up today Petitioner has prayed for the following relief(s): “(i) For issuance of a writ in the nature of Certiorari or
Concept Paper On All about Fair Value: ICAI
1. Introduction Financial reporting in India has undergone a significant transformation owing to the adoption of Indian Accounting Standards (Ind AS) and fair value is the guiding principle in financial reporting across the globe. The Institute of Chartered Accountants of India (ICAI) converged accounting
GST ComplianceHow to login at the GST portal and use it
What is GST Portal? GST portal is the portal adopted for GST compliances. If you are a taxpayer in GST you need to use this portal. It has the following functionalities. Registration of a new taxpayer Return filing Checking the GSTIN of other parties
CA Shafaly Girdharwal