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The state of Jammu & Kashmir has been bifurcated into two Union Territories – Union territory of Jammu and Kashmir and Union territory of Ladakh. According to the Table II, in column (3), in serial number 51, of the concerned notification by the government of India, dated 19th July, 2019, the words “State of Jammu […]
Service exporters serving foreign companies are seeking exemption from 18 per cent Goods and Service Tax (GST) on the supply of service. These agents are quoting clarifications from the government authorized Tax Research Unit (TRU’s) as the base of appeal. The service providers (specially marking the agents in the technical handle) reached out to Gujarat […]
The 37th GST council took the decision to not to levy GST on the intermediary deals applicable on the various international transactions. However, the decision has not come through the notification. As per the decisions, it is cleared that the intermediaries giving services to the person receiving supply and the recipient of the goods are […]
Consistant towards achieving a solid GST structure and preventing cases of GST leakages and frauds government keeps on improvising the tax laws for good. Many new provisions are allowed by the government and some old ones are amended in order to make GST a much more convenient and realistic form of tax governance. With effect […]
Listed out by legal authorities are some renowned Indian clusters and foreign banks suspected of allowing Indian entities or subsidiaries operating in India to use their brand names and logos for free. The Tax department on this has commanded (via legal notices) such entities to put a valuation on brand names and logos owned by […]
Following the circular issued by the indirect tax department, a wave of uncertainty was spread among the dealer group. Circular described the goods and service tax which is to be imposed on post-sale discounts by dealers. As per the circular issued by CBIC in June, the dealers were liable for 18% GST on the post-sale […]
GST Forms – Sahaj and Sugam are proposed for claiming the Input Tax Credit (ITC). Well, alike GSTR-1 these Forms too don’t seem to be simple for the GST payers and are anticipated to continue hardships for availing ITC. However, we can not ascertain the complexity level until the proposed Forms actually be used for […]
Notice has been issued by the Gujarat High Court to Centre Government, the Goods & Services Tax GST Council and the Central Board of Indirect Taxes & Customs (CBIC) challenging the IGST exemption granted to the import of repair and maintenance goods under the place of supply rules of GST, the rule according to which […]
The statutory audit season were about to end with the end of September month though it has extended for one more month due to the extension of due dates. Post expiry of audit season, the companies start focusing on internal audits. In internal audits statutory compliance remains a compulsory component which consists of basic reconciliations […]
