SCHEDULE III [SEE SECTION 7] ACTIVITIES OR TRANSACTIONS WHICH SHALL BE TREATED NEITHER AS A SUPPLY OF GOODS NOR A SUPPLY OF SERVICES 1. Services by an employee to the employer in the course of or in relation to his IMPORTANT: Gift to employees upto 50,000 is exempt (Reversal of …
SCHEDULE II [SEE SECTION 7] ACTIVITIES [OR TRANSACTIONS]1 TO BE TREATED AS SUPPLY OF GOODS OR SUPPLY OF SERVICES 1. Transfer any transfer of the title in goods is a supply of goods; any transfer of right in goods or of undivided share in goods without the transfer of title …
SCHEDULE I ACTIVITIES TO BE TREATED AS SUPPLY EVEN IF MADE WITHOUT CONSIDERATION Permanent transfer or disposal of business assets where input tax credit has been availed on such IMPORTANT: Transfer of entire business as a going concern cannot be subject to Transfer of business asset as whole an independent …
Section 7(1): For the purposes of this Act, the expression “supply” includes–– All forms of supply of goods or services or both such as sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance …
TAX SLABS UNDER OLD SCHEME V/S NEW SCHEME REBATE U/S 87A OLD SCHEME V/S NEW SCHEME: STANDARD DEDUCTION 50,000 FOR SALARIED EMPLOYEE IN BOTH NEW AS WELL AS OLD REGIME NO OTHER DEDUCTIONS ALLOWABLE UNDER NEW REGIME EXCEPT CONTRIBUTION TO AGNIVEER CORPUS FUND (80 CCH), INTEREST ON HOME LOAN ONLY …
Separate Registration required for SEZ Unit or SEZ Developer. Goods or services imported by SEZ unit for authorized operation then those supplies shall be exempted. If any person supplies goods or services to SEZ for Authorize operations then he can claim refund. SEZ Unit can not itself claim refund. Important: …
M/S CLAY CRAFT (INDIA) PVT. LTD (AAAR – RAJASTHAN) Applicant : Private Limited Company engaged in Manufacturing of Bone Chine (crockery/transfer sheet Decalcomania) having 6 directors. Question: Whether RCM is applicable on salary (Director) ? What is the answer if director is also part time director in other company ? …
Let’s understand the concept with one case study CASE 14: M/S TP AJMER DISTRIBUTION LTD (AAAR – RAJASTHAN) Applicant : TPADL (Company) Engaged in the business of distribution of Electricity in Ajmer City. Question : Company Receives Non – Tariff Charges whether taxable or Not ? Facts : Company is …
CASE 12: M/S ULTRATECH CEMENT LTD.(AAR –KARNATAKA) Applicant : Ultratech Cement Ltd. Manufacturing & supply of cement and allied products. Question : Rate difference can be considered for arriving transaction value or not?? Facts : Ultra Tech Cement Ltd is going to provide supply of goods to there Authorized Dealers …
In this Article we will discuss about the while components of financial literacy in a chart form. Financial Literacy : This is the tool to manage your funds & through that one can create wealth. Lets make yourself financially independent through the basics of Financial Literacy.
