News & FAQs

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...

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 ...

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 ...

GST Council to discuss waiver of late fee for August 2017 to January 2020

News & FAQs | By Editor | Jun 2, 2020

The GST Council in its next meeting will discuss waiver of late fee for non-filing of GST returns for August 2017 to January 2020 period....

Draft ecommerce policy to be placed in public domain soon, says DPIIT

News & FAQs | By Editor | Jun 1, 2020

The Department for Promotion of Industry and Internal Trade (DPIIT) will very soon put a draft ecommerce policy in the public domain to s...

Flipkart’s plans to enter food retail quashed by the Government

News & FAQs | By Editor | Jun 1, 2020

The government has rejected Flipkart’s proposal to enter the food retail business, citing regulatory issues. Last week, almost a year aft...

Cabinet approves additional funding of up to Rupees three lakh crore through introduction of Emer...

COVID-19 Resources | By Editor | Jun 1, 2020

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given the following approvals:   To enable additional funding of...

Distinction between retirement of a partner and dissolution of a partnership firm

News & FAQs | By CA Harmit Kaur | May 28, 2020

In one of the important judgments in Gurunank Industries vs. Amar Singh, Supreme Court declared that “there is a clear distinction betwee...

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