52nd GST Council Meeting- Updates
The 52nd meeting of the GST Council chaired by Union Finance Minister…
Compliances for Semi-Closed Wallets In India
Concept of Prepaid Payment Instruments (PPIs) or digital wallets or e-wallets (Electronic Wallets) has…
GST Inclusions of Online Gaming Industry in Regime
Amendments in section 2 (Definitions) a) Definition of specified actionable claim –…
Recommendations of the 49th GST Council Meeting
The 49th GST Council meeting held on 18th February 2023 has made the following…
ITC of tax paid on expenditures incurred to combat COVID-19 – A sigh of relief or a matter of concern
Introduction While we write this article, the entire world is suffering through…
COVID-19 together with new Tax Regime – Silver Lining for “Make in India”
The Indian Government launched its “Make in India” initiative in the year…
Taxation of amount received by a partner for reduction in profit sharing ratio
Controversies in taxation of partnership firms and partners are quite common as…
Removal of defect u/s 139(9) in return dates back to original return
The Income Tax Act, 1961 provides a comprehensive mechanism for dealing with…
Refunds amounting to Rs. 26,242 crore issued since 1st April, 2020
Central Board of Direct Taxes (CBDT) has issued tax refunds worth Rs.…
DVDs/CDs supplied with software to use it as application are not ‘e-books’, ineligible for 5% GST
Where assessee/dealer is engaged in publishing law journal in print and selling…
ITC on Construction and Works Contract Services
In the flashy world we live in, splurging on interior decoration and…
GST Implications in Joint Development Agreement Involving Sale of Plotted Land
Land is a State subject as per Entry 18in List II of…
Agricultural Income under Income Tax Act, 1961
Income Tax have various contentious issues despite being one of the oldest…
Replacement of damaged parts of plant and machinery was revenue exp. if no new asset came into existence
Expenditure incurred on replacement of damaged parts of plant and machinery would…
No waiver of Sec. 234B/234C interest if advance tax wasn’t paid on undisclosed income admitted during survey
Where pursuant to survey conducted upon assessee, it admitted an undisclosed…
Implication of GST on CSR Expenses
Introduction to Corporate Social Responsibility (CSR) In the legal framework, Corporates on…
GST & IDT UPDATE
Extension of validity of E-way bills CBIC earlier vide Notification no. 35/2020…
Updated Statutory & Regulatory Relief to businesses | COVID-19 Lockdown
Entire world is fighting against epidemic COVID-19 outbreak and Hon’ble Prime Minister…
AGM through video-conferencing for private companies
In view of the present extra-ordinary circumstances due to the pandemic caused…
MCA Relaxation on Holding of AGM
• OVERVIEW In view of the situation arising due to COVID-19 pandemic…