Category: TAX

Received Notice From GST Department – Key Points To Consider

Recently the GST Department has started issuing notices based upon the income tax returns filed by businesses and individuals or TDS credits reflecting in their Form 26AS. The move is aimed towards identifying cases where certain income although reflecting in Income Tax returns, has not been declared in the GST returns or no registration has … Continue reading Received Notice From GST Department – Key Points To Consider

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Advance Rulings – Much Ado About Nothing?

Background After the introduction of GST, it has become very common for the media to cover the recent updates in GST Law& decisions of the GST Council. In addition to these, the media also widely discusses the recent rulings pronounced by the various State Authorities of Advance Rulings. Not only have these rulings become a hot … Continue reading Advance Rulings – Much Ado About Nothing?

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New Beginnings – Taxation Practice

…but in this world nothing can be said to be certain, except death and taxes ― Benjamin Franklin These famous words by Benjamin Franklin are often used during discussions on the subject on taxes. Taxation is indeed a sensitive subject, with almost everyone having an opinion on it. Although taxes are certain, at times its … Continue reading New Beginnings – Taxation Practice

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Liability To Pay Service Tax Under Reverse Charge – Whether Tax Is Payable By The Service Recipient Even If Already Collected And Paid By Service Provider?

The basic principle governing indirect taxes is that the incidence of tax is borne by consumer and not by the person supplying such goods or services. The tax so charged and collected from such consumer is required to be deposited to the Government by the person supplying such goods or services, who is also required … Continue reading Liability To Pay Service Tax Under Reverse Charge – Whether Tax Is Payable By The Service Recipient Even If Already Collected And Paid By Service Provider?

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The Great Indian Budget Summarised (Modi – Led BJP Government’s Interim Budget 2019)

On the eve of the upcoming elections, India’s Finance Minister Piyush Goyal, under the Modi led BJP Government announced the interim budget which would be in force till the Election on 1st February, 2019 . In his 2 hour long speech he dealt with a variety of sectors ranging from Agriculture to Tax & Defence … Continue reading The Great Indian Budget Summarised (Modi – Led BJP Government’s Interim Budget 2019)

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A To Z of Listing Compliances in India

What Is A Listing Agreement? A Company seeking listing of their securities on the Stock Exchange is required to enter into a formal listing agreement with the Stock Exchange. Such listing agreement specifies all the quantitative and qualitative requirements to be continuously complied with by the issuer for continued listing. The Stock Exchange then monitors … Continue reading A To Z of Listing Compliances in India

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Goods and Services Tax and E-Commerce

Introduction It is estimated that Indian E-commerce market has crossed US$ 38.5 billion as of 2017 March[1] and India will soon become second largest E-commerce market platform. This Article analyses the effect of GST on E-commerce in India and also describes the forms procedure and due dates for returns to be filed by a E-Commerce Operator … Continue reading Goods and Services Tax and E-Commerce

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Common Man’s Guide to E-Way Bill

E-way bill stands for Electronic way bill. E-way bill system under new tax regime i.e. Goods and Services Tax (GST) came into effect in April 2018. It was brought in as an anti-evasion measure in bulk consignment transports. It is an electronic waybill which is required to be carried out by a transporter of consignments … Continue reading Common Man’s Guide to E-Way Bill

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Effect of Insolvency and Bankruptcy Code Amendment on Home Buyers

Real Estate Sector in India is one of the few sectors that have witnessed exponential growth in the last two decades. It has drawn in huge investments from the people who put in their hard earned life savings to unlock their dream homes. However, the most sought after Investment Avenue has seen a dip in … Continue reading Effect of Insolvency and Bankruptcy Code Amendment on Home Buyers

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Impact of GST on Digital Entertainment Storefronts

There are on-demand Digital Entertainment Storefronts (DES) like Hungama, Saavn etc. which are engaged in providing music on demand services and are becoming increasingly popular among internet users in India who wants to listen songs on the go. Some of them are free, however some charge subscription from the listeners. Now, there arises a question … Continue reading Impact of GST on Digital Entertainment Storefronts

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