Interest on PPF, savings bank deposit to be included for calculating GST registration threshold

GST & Other Indirect Taxes | By Editor | Jun 22, 2020

The value of exempted income, like interest on PPF, savings bank account and loans given to family/friends, will be included along with t...

Developed land sold as plots will attract GST

GST & Other Indirect Taxes | By Editor | Jun 22, 2020

GST will be levied on sale of land for which primary amenities – such as drainage, waterline and electricity – have been provided by real...

No input tax credit on GST paid for hiring of vehicles for employee transportation

GST & Other Indirect Taxes | By Editor | Jun 22, 2020

  Companies will not be able to claim input tax credit (ITC) for GST paid on hiring commercial vehicles for transportation of employ...

The Small Business Administration is accepting Economic Injury Disaster Loan and EIDL advance gra...

US Setting Up and Compliance | By Editor | Jun 17, 2020

The Small Business Administration is accepting Economic Injury Disaster Loan and EIDL advance grant applications for all eligible small b...

SSI units appeal for reconsideration of GST/TDS rule

News & FAQs | By Editor | Jun 15, 2020

SSI units that have been supplying goods to government organisations say that the “GST/TDS rule is suicidal in the GST era, a harassment ...

No late fee for GSTR-3B filing for those with nil liabilities and more: Highlights of GST Council...

COVID-19 Resources | By Editor | Jun 12, 2020

The 40th GST Council Meeting, chaired by Finance Minister Nirmala Sitharaman, was held on June 12. The Centre has announced a rate cut fo...

Clarification in respect of levy of GST on Director’s Remuneration

GST & Other Indirect Taxes | By CA Harmit Kaur | Jun 11, 2020

  Vide Circular No: 140/10/2020 – GST   Various references have been received from trade and industry seeking clarification whether ...

Person with dual residency is taxable in the Country where his personal & economic relations...

  Where Taxpayer, who was Zimbabwe born, relocated in Australia and maintained accommodation and settled family there while working in Th...

Legal clause in Investment Agreement

What is Pay to Play clause in Investment Agreement?

CFO Advisory Services | By Soumik Kumar Sen | Jun 5, 2020

Pay to Play is a very common clause in any investment agreement and plays a very important role in any down round. Down Round refer to a ...

No ‘slump sale’ if assets and liabilities of business are transferred by assigning specific value

    HIGH COURT OF MADRAS Commissioner of Income Tax-I, Coimbatore v. Shiva Distilleries Ltd. T. S. SIVAGNANAM AND MRS. V. BHAVANI SUBBARO...

Delhi ITAT rules that 100% disallowance u/s 40(A)(2(b) on payment made to related parties cannot ...

    Section 40A(2)(b) does not envisage complete disallowance of expenditure unless it is proved to be excessive or unreasonabl...

New registration functionality enabled on GST portal – Check who will benefit

GST & Other Indirect Taxes | By Editor | Jun 4, 2020

In a major development, a new registration functionality has been enabled on the Goods and Services Tax (GST) portal by Goods and Service...

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