NEW GUIDELINES FOR GST REFUNDS What is GST refund? Usually when the GST paid is more than the GST liability a situation of claiming GST refund arises. Under GST the process of claiming a refund is standardized to avoid confusion. The process is online and time limits have also been set for the same. […]
CBDT issues new guidelines for GST Refunds Read More »
CBIC introduced changes in system w.r.t AD Code Registration in exports INTRODUCTION: For starting an Import and Export business in India, you must have two registrations as per Government regulations. One is IEC Registration, and another one is AD Code Registration. Without these two registrations, you can not start an import-export business in India. The
CBIC introduced changes in system w.r.t AD Code Registration in exports Read More »
CBDT ISSUES NEW GUIDELINES ON TDS UNDER SECTION 194R Union Budget 2022, a new TDS section 194R, has been proposed in the Finance Bill 2022, w.e.f. 01.07.2022. This new section 194R requires deduction of tax at source @ 10%, by any person, providing any benefit or perquisite, exceeding Rs. 20,000 in value, in a year,
CBDT issues guidelines on TDS under section 194R of IT Act, 1961 Read More »
CBDT PROVIDES RELAXATION FROM TDS U/S TDS 194I OF IT ACT, 1961 The Central Board of Direct Taxes (CBDT) has provided relaxation from TDS under section 194I of the Income Tax Act, 1961 in respect of lease rentals paid to aircraft-leasing units located in the International Financial Services Center (IFSC) claiming exemption under section 80LA
CBDT provides Relaxation from TDS u/s 194I of the Income Tax Act,1961 Read More »
ALL ABOUT EPR REGISTRATION AND COMPLIANCES The Extended Producers Responsibility/EPR regime is defined in Plastic Waste Management Rules, 2016. The rules mandate the generators of plastic waste to take steps to minimize generation of plastic waste, not to litter the plastic waste, ensure segregated storage of waste at source and hand over segregated waste in
All about EPR Registration and Compliance Read More »
EVERYTHING ABOUT BUY BACK SHARES AS PER COMPANIES ACT, 2013 Buy back of shares, or other specified securities means buying back of its own shares or other specified securities by the company from the holder thereof and cancelling them. After the enactment of the companies act, 2013 section 68, 69 and 70 read with rule
Everything about Buy Back shares as per Companies Act, 2013 Read More »
GSTN advises Taxpayers not to avail ITC on Same Invoice appearing twice in GSTR-2B New clause “(aa)” to Section 16(2) has been inserted vide Section 109 of the Finance Act, 2021 which was made applicable w.e.f. 01.01.2022 vide Notification No. 39/2021- Central Tax dated 21.12.2021 Further, consequent changes have been made in Rule 36(4) of
GSTN advises Taxpayers not to avail ITC on Same Invoice appearing twice in GSTR-2B Read More »
DPT 3- RETURN OF DEPOSITS LAST DATE TO FILE IS 30.06.2022 Every Company including OPC and small companies need to file Form DPT-3, except for the following companies: Government Company Banking Company Non-Banking Financial Company (NBFCs) registered with RBI Housing Finance Company (HFCs) registered with the National Housing Bank. Who has to file DPT-3? Form
DPT 3- RETURN OF DEPOSITS LAST DATE TO FILE IS 30.06.2022 Read More »
INPUT TAX CREDIT ON INSURANCE EXPENSE UNDER GST Under GST law, input tax credit can be availed by the registered person on the inward supplies of goods/services used/intend to be used in course of business of making taxable supplies/zero-rated supplies. ITC is eligible except on the specified list of blocked credit set out in section
ITC on Insurance expense under GST Read More »
SECTION 194IA: PAYMENT ON TRANSFER OF IMMOVABLE PROPERTY Provisions of Section 194-IA: (1) Any person, being a transferee, responsible for paying (other than the person referred to in section 194LA) to a resident transferor any sum by way of consideration for transfer of any immovable property (other than agricultural land), shall, at the time of credit of
SECTION 194IA: PAYMENT ON TRANSFER OF IMMOVABLE PROPERTY Read More »
