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18% GST Rate on Composite Supply by Coaching Institutes

CBIC: Composite Supply Falls Under 18% GST for Institutes

A coaching institute shall not deposit the GST on the specific items on the grounds of the supply of the notebooks, t-shirts, bags, sweatshirts, and others to students as well as the coaching service mentioned by the Central Board of indirect taxes and custom (CBIC). “These types of bundled services fall under the category of […]

Income Tax Advantage on Education

Tax Benefits on Interest Paid & Full Time Education U/S 80C

Education has the capacity to rectify the life of the people with quality. Some advantages are also given to the assessee by the government for the education prospectus. In this discussion, there is an explanation about the advantages of education furnished by the income tax laws in India. Full-time Education in India Deduction Under Section […]

GST Exemption for Hostel Rent

MH AAR: GST Exemption for Hostel Rent of up to INR 1k Per Day

The Maharashtra Authority of Advance Ruling (AAR) ruled that Goods and Service Tax (GST) is privileged on Hostel Rent of less than Rs. 1000 per day for one Student. The applicant is the owner of M/s. Ghodawat Eduserve LLP used to furnish commercial training and coaching services to his students who appear for the 11th […]

Articled Assistants Eligibility Criteria for Industrial Training

ICAI: Eligibility Guidelines for Articled Assistants of Industrial Training

New update for ICAI Article Assistants. Interestingly, The Institute of Chartered Accountants of India (ICAI) has notified that “the Articled Assistants are eligible for Industrial Training after completing a minimum of 1.5 years of practical training.” Coming to the technical dimension, The ICAI has put in the Chartered Accountants (Amendment) Regulations, 2021 that seeks to […]

Kerala HC Judgment for Retired CA‘s Right to Practice

Kerala HC New Provisions for Retired ICAI CA’s Practicing Rights

The Kerala High Court besides held that the ICAI upon the retired CA’s right to exercise rules that ICAI acknowledges the retirement of the CAs from his past firms and permits the enrollment of his new firm will disrupt his right to practice. The applicant was the working partner of 3 member partnership on will […]

Claimable Tax Deductions Against Expenses

Claimable Income Tax Deductions for Expenses U/S Section 80C

Previous year, due to CORONA Pandemic, many of you might be struggling with financial strains due to pay cuts or job losses and consequently might not have surplus cash to purchase tax-saving investments. March 31 is the deadline for doing investments for tax-saving concerned with the financial year 2020-21. Till date, many individuals might haven’t […]

Disciplinary Proceedings for CAs

ICAI Starts Disciplinary Procedures Against CAs in GST Fraud Case

CA Institute has conducted strict proceedings with respect to 8 Chartered accountant who has caught in the nationwide campaign upon bogus GST invoice frauds in the last two and half months from Nov 2020. Allowing this move Mr. Atul Kumar Gupta president Institute of Chartered Accountants of India (ICAI), said that the revenue department’s letter […]

Not Applicable Service Tax Under the Secondment Agreement

CESTAT: No Service Tax Need on Salary Under the Secondment Agreement to Employees

Under the secondment contract, the Customs, Excise, and Service Taxes Appellate Tribunal (CESTAT) ruled that there will be no tax applied to the employees. The petitioner is the owner or the northern operating systems Pvt ltd and is registered under the council for releasing the service tax beside the categories of “Manpower Recruitment Agency Service”, […]

CAs Can't Mention Fees or Free of Charge in Ads

ICAI: Chartered Accountants Can’t Mention Fees or Free of Charge in Ads

The Institute of Chartered Accountants of India (ICAI) has prohibited the Chartered Accountants to quote any kind of fee details or ‘Free of Charge’ in any kind of advertisement of the services published by them. The Institute of Chartered Accountants Get the details of top 10 chartered accountant coaching centers that are located in India. […]

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