Equalization Levy under Income Tax
CHARGE OF EQUALISATION LEVY ➢ Rate: 6 % of the amount of consideration received or receivable. ➢ Service Provider: Any non-resident...
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Seth & Associates
- Apr 13, 2020
- 2 min
GST on Goods Transport Agency
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...
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Seth & Associates
- Apr 13, 2020
- 3 min
Section 50-C of the Income Tax Act, 1961
INTRODUCTION TO SEC 50C In order to plug the prevailing black money in real estate transactions the government vide finance Act 2002,...
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Seth & Associates
- Apr 13, 2020
- 2 min
Company Fresh Start Scheme 2020
The Corporate Affairs Ministry (MCA) has come up with the ‘Companies Fresh Start Scheme 2020’ to enable companies make good of any...
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Seth & Associates
- Apr 13, 2020
- 1 min
Reverse Charge Mechanism in GST
WHAT IS REVERSE CHARGE MECHANISM In general GST is collected by the supplier from the recipient and remitted to the government. However,...
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Seth & Associates
- Apr 13, 2020
- 2 min
Budgets & Budgetary Control
WHAT IS A BUDGET AND BUDGETARY CONTROL? A. Budget is an estimation/statement of financial resources set aside for carrying out specific...
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Seth & Associates
- Apr 13, 2020
- 3 min
Important Disallowances under Income Tax Act (Sec 40A)
WHAT IS SEC 40A Under the Income tax Act,1961 profit or gain from business or profession is considered income and such income is...
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Seth & Associates
- Apr 9, 2020
- 3 min
Sec 271AAD of the Income Tax w.e.f. 1st April 2020
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...
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Dhruv Seth
- Sep 5, 2018
- 2 min
Input Tax Credit wrongly availed under GST
Input Tax Credit mechanism allows registered person under GST to set-off their GST tax liability. Since GST is a consumption-based tax,...
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GST @ Seth & Associates
- Jul 21, 2017
- 1 min
GST impact on E-Commerce Operators
#Indirecttax #DhruvSeth #GST
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GST @ Seth & Associates
- Jul 5, 2017
- 1 min
GST - Invoice and Voucher types
We are attaching various voucher and invoice types which would need to be issued under GST. We have also attached a brief writeup when...
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Seth & Associates
- Jun 7, 2017
- 2 min
GST - Availability and Restrictions in Input Tax Credit
The entire foundation of GST has been proposed to be seamless transfer of credit till the end consumer to ensure optimum pricing....
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Dhruv Seth
- Jun 1, 2017
- 6 min
GST - Foreseeable Issues
Till date we have been sending various articles and writeups about what the law states. However with this writeup we wish to inform you...
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Dhruv Seth
- May 31, 2017
- 3 min
GST Rates ready reckoner - 18th May council meeting
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....
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Dhruv Seth
- Apr 16, 2017
- 2 min
Important Income Tax amendments w.e.f 1st April, 2017
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...
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Seth & Associates
- Apr 16, 2017
- 2 min
E-Way Bills as Per New GST Rules
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....
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Dhruv Seth
- Jul 17, 2016
- 3 min
Time of taxation of Joint Development agreements
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...
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Seth & Associates
- Jun 10, 2016
- 1 min
India BPO Promotion Scheme
The scheme initiated under Digital India Programme is detailed as below: Objective: IBPS envisaged under digital India Programme, seeks...
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Seth & Associates
- Jun 8, 2016
- 4 min
Analysis of the Delhi HC judgment striking down Service Tax audit
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...
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Seth & Associates
- Jun 6, 2016
- 2 min
India Ranks 2nd in Ease of doing business as per GRDI 2016
India has jumped 13 positions from 2015 to rank second among 30 developing countries in 2016 on ease of doing business, according to a...
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