CHARGE OF EQUALISATION LEVY ➢ Rate: 6 % of the amount of consideration received or receivable. ➢ Service Provider: Any non-resident...

WHO IS A GTA As per Section 65B (26) of the Finance Act, 1994; “Goods Transport Agency means any person who provides service in relation...

INTRODUCTION TO SEC 50C In order to plug the prevailing black money in real estate transactions the government vide finance Act 2002,...

The Corporate Affairs Ministry (MCA) has come up with the ‘Companies Fresh Start Scheme 2020’ to enable companies make good of any...

WHAT IS REVERSE CHARGE MECHANISM In general GST is collected by the supplier from the recipient and remitted to the government. However,...

WHAT IS A BUDGET AND BUDGETARY CONTROL? A. Budget is an estimation/statement of financial resources set aside for carrying out specific...

WHAT IS SEC 40A Under the Income tax Act,1961 profit or gain from business or profession is considered income and such income is...

WHAT IS SEC 271AAD Finance Act 2020 has inserted a new section 271AAD in the Income-tax Act relating to penalty for false or omission of...

Input Tax Credit mechanism allows registered person under GST to set-off their GST tax liability. Since GST is a consumption-based tax,...

#Indirecttax #DhruvSeth #GST

We are attaching various voucher and invoice types which would need to be issued under GST. We have also attached a brief writeup when...

The entire foundation of GST has been proposed to be seamless transfer of credit till the end consumer to ensure optimum pricing....

Till date we have been sending various articles and writeups about what the law states. However with this writeup we wish to inform you...

On the 18th of May, 2017, the GST council convened to fix and finalise the much awaited GST rates for 1211 goods across 98 categories....

Please take note of the following very important changes in income tax Laws that come into effect from 1st April 2017. The limit of Rs...

E-Way Bills as Per New GST Rules 1) E-Way Bill will be required for movement of all goods, whether within the state or across states....

According to the law of Income tax in India there are three very critical limbs of taxing a person. :- i. There should be income deemed...

The scheme initiated under Digital India Programme is detailed as below: Objective: IBPS envisaged under digital India Programme, seeks...

Delhi HC strikes down Rule 5A(2) of Service Tax Rules, 1994 Mega Cabs Pvt. Ltd. v. Union of India & Ors. In a major battle we have been...

India has jumped 13 positions from 2015 to rank second among 30 developing countries in 2016 on ease of doing business, according to a...