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MCA Amends Schedule VII of Companies Act

MCA Made an Amendment in Schedule VII of Companies Act, 2013

The Ministry of Corporate Affairs (MCA) on Thursday released a notification and through it, MCA has made some modifications in Schedule VII of the companies act 2013 Check out the AGM due date for the newly registered company under the companies act 2013. Also, we have mentioned two conditions for easy understanding. Read More. The […]

GST Applicable - Landscape and Garden Maintenance Work

Development of Landscape & Garden Maintenance Work for Govt. Undertakings Will Attract GST

The Appellate Authority of Advance Ruling (AAAR), Karnataka released an order dated 04 May 2020 and ruled that the maintenance and landscape development of gardens for government undertakings come under subcontract work and thus the GST will be applicable on it. M/s The Nurserymen Cooperative Society LTD, Lalbagh, Bangalore is the applicant in this matter […]

Retrospective Amendment Notification

CBIC Released Retrospective Amendment Notification in Section 140 of CGST Act

The Central Board of Indirect taxes and Customs (CBIC) has recently released a notification regarding the retrospective amendment in Section 140 of the CGST Act 2017. This amendment shall come into action retrospectively from 1st July 2017. With it, the ministry finds its way to buy itself in to clear all the pending input tax […]

GST Revenue Impacted on Retail Sector

GST Revenue at Loss From Lockdowns Which Directly Impacted on Retail Sector

The third Lockdown is going to end on 17th May 2020 but PM Narendra Modi on 8th May already indicated that the next lockdown is on its way. With back to back lockdowns, everything except shops for essential products was closed for over a month. Due to lockdowns caused by Covid-19 Panadamic, every sector is […]

Bihar Settlement of Taxation Disputes Act, 2019 Extended

Settlement of Taxation Disputes Act, 2019 in Bihar Extended by Governor

Due to the COVID-19 pandemic, last dates for various return filing and other government work has been stretched, and in the same line-up, the recent update states that the “Bihar Settlement of Taxation Disputes Act, 2019” has been also extended for three months. The Notification was released on 13th April 2020 by the Governor of […]

GST Levy Terms on Disposal of Capital Goods

GST on Disposal of Company’s Capital Goods or Assets in CGST Act 2017

Capital Good – Defined Under CGST Act 2017 As mentioned under section 2(19) of the Central Goods and Service Act 2017, Capital Goods under GST are termed as goods whose value is capitalized (recorded as an asset) in the Books of Accounts which can either be claimed by the assessee as the Input Tax Credit […]

Contact Detail Update on IT Portal

How to Update Contact Details on Income Tax E-Filing Portal?

Whenever we log in to our income tax account, the first thing that flashes on the screen is the pop-up to update our contact and residential details. We often tend to hit the skip button and move on with other crucial tasks. If the details are already updated then it’s good but if not then […]

No Separate GST Registration

AAR: Not Required New GST Registration for Executing Works Contract

As per a recently released order, AAR stated that a separate Goods and Service Tax (GST) registration is not necessary for another state for continuing the contract in that state. The Order clearly states that if an entity has a proper GST registration then /he/she/they don’t need separate GST registration to execute the contract in […]

Payment Voucher and GST Invoice Under RCM

GST Invoice & Payment Voucher in Reverse Charge Mechanism of CGST Act

According to the Goods and Services Tax (GST) Act, 2017, all the assessees filing the GST returns Check out due dates of payment under GST for general and composition taxpayers in India. We have included penalty charges on late payment with interest. Read More All the assessments are suggested that they should issue the GST […]

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