Taxability in GST and Service Tax Services proved by the Government to business entities including by way of grant of privileges, licences, mining rights, natural resources such as spectrum etc. against payment of consideration in the form of fee, royalty etc. are taxable under…
Frequently Asked Questions on Company Fresh Start Scheme, 2020 issued by the Ministry of Corporate Affairs, Government of India on 30th March, 2020 The Ministry of Corporate Affairs has issued a Circular 12/2020 dated 30th March, 2020, in order to facilitate the companies registered in India to make a fresh start on a clean slate, it has been decided to take certain alleviative measures for the…
Goods & Services Tax (GST) authority cannot raise demand or initiate recovery of interest on late payment of tax without adjudication in case of a dispute, a High Court has ruled. Amid lockdown, a division Bench of Jharkhand High Court, using video conference, delivered judgment…
Due to Covid-19 outbreak, looking at present scenario and lockdown being imposed under the guidance of Central / State Government, most of the regulators have come up to provide the relaxation in due date, with respect to the compliance requirement during this unavoidable situation. The…
The Punjab government on Tuesday sought from the Centre an interim compensation of Rs 3,000 crore for the month of April in view of “alarming resource gap” and also demanded permission for sale of liquor to mobilise excise revenue. Pointing to the alarming resource gap between…
GST Weekly update by CBIC -Dated 18th April, 2020 contains following topics GST Revenue Collection for FY 2019-2020 Expediting pending refund claims Clarifications in respect of certain challenges Alert for ISDs for data in SAVE stage in their Form GSTR 6 Registration for TCS taxpayers:…
The GST law requires an entity to obtain registration for TCS in each State /UT, where it has an obligation to collect TCS. The ECommerce operators were facing a challenge of having to obtain registration as TCS deductors in some States/ UTs as they…
The central government on April 9 granted exemption from basic customs duty (BCD) and health cess on the import of goods like face and surgical masks, ventilators, testing kits and personal protective equipments (PPE) BCD and health cess with immediate effect to tackle the COVID-19…