A registered dealer is in the process of revising its return and in the meanwhile, the Department has issued a notice for special audit. The Dealer manages to revise the return within the time period prescribed by law and pays the tax and interest on delayed deposit of tax. But despite so, the Department frames …
Post the verdict of the Hon’ble Delhi High Court in the case of Brand Equity v. Union of India, retrospective effect to the amendment in Section 140 of the CGST Act was enforced. In view of the said amendment, apprehensions were raised by the industry as to whether the judgement in Brand Equity still holds good. …
We are of the view that Sale of Developed Land is not leviable to GST. However, we always suggest an alternative tax efficient model for such transactions to keep it free from unnecessary litigation. Sale of Land – under GST Law Sale of Land is neither Supply of Goods nor Supply of Service as per …
As you are aware that a new tax regime has been introduced w.e.f. 01.04.2019 for Residential Real Estate projects on which tax is payable @5% or 1% subject to various conditions attached to it. In this regard, the Promoter Developer who is paying tax under new tax regime is required to do following compliances on …
The issue pertaining to Director Remuneration has been examined by the CBIC and they have clarified the position vide Circular No: 140/10/2020 – GST dated 10.06.2020 in line with our opinion. The Circular is attached here for your ease of reference. Directors who are not employees of the Company e.g. Independent Directors Remuneration paid to …
Recently GST Council has recommended few reliefs for small tax payers, waived/ reduced the penalty for non-filers of GSTR-3B, extend the benefit to apply revocation of cancellation of registration and also recommended to bring into effect certain proposed amendments of CGST & IGST Act w.e.f. 30.06.2020. We shall further update you once these changes will …
PHD Chamber of Commerce & Industry is organizing a Webinar on Ramifications and Reliefs in GST in Lockdown Period covering decisions taken in the 40th GST Council Meeting. Date and Time: 20th June, 2020 (Saturday) from 11:00 AM to 02:30PM. Eminent Speakers: Mr. N K Gupta Chairman (Indirect Taxes Committee) Mr. Bimal Jain Mentor (Indirect …
On 14th June, 2020, the GST & Indirect Taxes Committee of the Institute of Chartered Accountants of India organized live webcast on the topic: “GST on Construction, Joint Development & Works Contracts” By Adv. Puneet Agrawal, Partner, ALA Legal In case you could not attend the live webcast on GST on Construction, Joint Development & …
On 14th June, 2020, Institute of Chartered Accountants of India will host live webcast on the topic: “GST on Construction, Joint Development & Works Contracts” Time: From 11:00 am to 02:00 pm Panelist Session 1 GST on Construction, Joint Development : CA. S Venkataramani Session 2 GST on Works Contracts : CA. Puneet Agrawal Webcast …
The Ministry of Micro, Small and Medium Enterprises has recently issued a Notification dated 1st June, 2020, notifying the criteria for classification of micro, small and medium enterprises. Vide the said Notification, the Government has significantly amended the criteria for an enterprise to be classified as Micro, Small and Medium Enterprises. The announcement for the …
