ARG Electricals Pvt. Ltd. (AAR – RAJASTHAN) Applicant : Private Limited Company Question : Determination of the liability to pay tax on any goods/services or both? Qualify as works contract? Rate of GST? Fact : AVVNL issues Tender for supply of material/equipment for providing of rural electrically infrastructure for Household …
Create your own way to generate the wealth Basic : Initiate your own Practice and explore the world of Possibilities. Steps to become Entrepreneur : Constitution of the Setup : Let’s Discuss about various Stages of Setup :
Direct Tax Related Changes A Partial Relief from “Ghost Tax Demands” under Income Tax The Hon’ble Finance Minister announced that there are a large number of petty , non verified, non reconciled and disputed direct tax demands dating back to 1962. In order to provide relief to the tax payers …
Before starting our discussion on LUT, First we just need to understand the concept of Exports under GST : If you are planning to start export of goods and services in that case this article is completely for you. In GST Regime there are total two type of exports are …
As per the Schedule 1 of CGST Act,2017 GST will be charged in case of disposal of business whether for consideration or Not for Consideration. Now there are certain situation in that case GST will not be charged. When taxpayer is transferring the business as Going Concern. (i.e. Buyer is …
The Union Interim Budget 2024 was presented by Union Finance Minister Nirmala Sitharaman on 1st February 2024. The Budget session began at 11 A.M. Latest Updates The Finance Minister says that the needs and aspirations of Garib, Mahilayen, Yuva and Annadata are the government’s highest priorities. Ayushman Bharat scheme to be extended …
Change in the Definition of Input Service Distributor : Earlier Section 2(61) of CGST Act : Input Service Distributormeans an office of the supplier of goods or services or both which receives tax invoices issued under section 31 towards the receipt of input services and issues a prescribed document for the …
Proposal for Insert of New Section 122(a) : Section 122(a) (1) : Notwithstanding anything contained in this Act, where any person, who is engaged in the manufacture of goods in respect of which any special procedure relating to registration of machines has been notified under section 148, acts in contravention …
Maximum Time to Conclude the Proceeding under Section 73 of CGST Act : 3 Years from the due date of filing of Annual Return for the Relevant Period, and notice has to be issued 3 months prior to the concluding date.
In India, the MSME Act has introduced a 45-days payment rule for Micro & Small Enterprises. So, if you are a Micro or Small enterprise, and you have sold goods or provided services to a Buyer, the Buyer must make payments for the goods or services within a maximum period …
