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The Central Board of Direct Taxes (CBDT) on this Wednesday pinpointed that buyers of goods or services shall have to deduct TDS at the source and at 0.1% of the amount that is greater than Rs 50 lakhs when credited or paid to a resident seller on the transactions that have occurred after July 1, […]
The Goods and Services Tax Network (GSTN) has implemented new functionality for the purpose of Discharging Goods and Services Tax liability in relation to GSTR-9C that has a reconciliation statement. How to Use This Functionality To utilise this facility, the taxpayer shall first log in to the web portal of GST Portal and then choose […]
Ahead of the fourth GST Anniversary on July 1, the Industry regulatory body ‘PHD Chamber of Commerce’ has voiced an opinion that the buyer should be permitted to claim credit for taxes even if the supplier has been the defaulter in payment of GST. The PHD Chamber of commerce also said that during a meeting […]
The two corona waves have ruined the entire planet and have choked production, shut down the industries, led to cash crunch but increased the registration of companies. Similar to the notion that “Action speaks louder than words” there is a saying that “facts speak better than words”. This is proved when we open the statistics […]
The Haryana Authority of Advanced Ruling, on Monday, ruled that no GST shall be applicable on delivering training to those students who are sponsored by the central or state government. Here in this case the applicant is Messrs Sachdeva College Ltd which is engaged in the domain of providing Education. And interestingly the aforesaid education […]
It has been held by the Income Tax Appellate Tribunal, Bangalore Bench thatIf computer software is affixed onto hardware and the single product i.e. integrated unit is sold then Tax Deducted at source shall not be applicable. Here, in this case, the assessee and the subject of consideration is M/s Autodesk Asia Private Limited that […]
In a recent judgement delivered by the honourable Gujarat High Court, it is held that the Directorate General of Goods and Services Tax Intelligence (DGGI) holds the power to issue summons considering the provisions of the GST Act, 2017 and the relevant circulars that are issued by the Central Board of Indirect Taxes These types […]
When it comes to tax compliances don’t procrastinate. The end date to link your Permanent Account Number (PAN) with your Aadhaar number is nearby i.e. The last date to link Permanent Account Number (PAN) with Aadhaar Card has been stretched to June 30, 2021. As per the sources, the government shall opt for the stringent […]
In yet another attempt to provide relief to the Company Secretary Students who are facing the evils of second Covid-19. The Institute of Company Secretary of India (ICSI) has stretched the last date of the ECSIN Amnesty Scheme, 2021 along with the UDIN Amnesty Scheme, 2021 till June 30, 2021. For the above-mentioned extension, an […]