We should go for lower GST rates: Arvind Subramanian October 13, 2016 We should go for lower GST rates: Arvind Subramanian, Chief Economic Adviser NPA continues to remain a challenge for Chief Economic Adviser Arvind Subramanian, who in a free-wheeling interview to ET, talks about a fix and how GST could serve its purpose if… Read More »
The time table for the Union Budget has been advanced by one month and is being scheduled for February 01, 2017. Arvind Subramanian, the Chief Economic Adviser, said the Economic Survey will be out on Jan31. “The time-table is fixed. It is going to be the day before the budget and since the budget is… Read More »
Section 37 of Model GST Law Key Points about Section 37 of Model GST Law Coverage :- Section 37 of Model GST Law specifically lists out the Deductors who are mandated by the Central Government or the State Government to deduct tax at source, the rate of tax deduction and the procedure for remittance of the tax deducted. [… Read More »
MCA to withdraw e-Form INC-29 (Integrated Incorporation Form) with effect from November 1, 2016. Accordingly, INC-29 will no longer be available on the MCA21 portal and stakeholders will not be able to file any previously downloaded versions with effect from November 1, 2016. Stakeholders are requested to plan accordingly and use SPICe (Simplified Proforma for… Read More »
IN THE ITAT BANGALORE BENCH ‘C’ Elite Enterprises v. Income-tax Officer, Ward 1, Puttur VIJAY PAL RAO, JUDICIAL MEMBER AND INTURI RAMA RAO, ACCOUNTANT MEMBER IT APPEAL NO. 1738 (BANG.) OF 2013 [ASSESSMENT YEAR 2007-08] AUGUST 26, 2016 Balram R. Rao, Adv. for the Appellant. Sunil Kumar Agarwal, JCIT (DR) for the Respondent. ORDER Vijay… Read More »
Held Increasingly organizations are moving towards computerized integrated manufacturing, where more and more computers, robots, and microprocessors are used in conjunction with the machines. But the machines cannot be called as computers even though computer is an integral and dedicated part of the whole machine. That computer in the machine cannot be used for any… Read More »
DRAFT FOR PUBLIC COMMENTS INSOLVENCY AND BANKRUPTCY (APPLICATION TO ADJUDICATING AUTHORITY) RULES, 2016 In exercise of the powers conferred under sub-section (2) of section 7, sub-section (1) of section 8, sub-section (2) of section 9, sub-section (2) of section 10, sub-sections (1) and (2) of section 239 of the Insolvency and Bankruptcy Code, 2016 (31… Read More »
GST History (India) – 13 years Long Journey Free Education Guide on Goods & Service Tax (GST) SR No Topic -GST Resources 1 Model GST Law Model GST Law 2 GST Overview Goods and Services Tax (GST): An Overview Integrated Goods & Service Tax (IGST) Act Overview Meaning and Scope of Supply Time of… Read More »
The Supreme Court allowed a company a share issue expenditure under section 35D, and also allowed a bonus expenditure, even though the bonus amount was deposited in a trust and, at the end of a dispute with employees, was paid over to them. The case is: Shasun Chemicals and Drugs Ltd. Read KPMG an October… Read More »
Treatment of interest paid on partner’s capital The Pune Bench of the Income-tax Appellate Tribunal held that interest paid with respect to a partner’s capital is not an “expenditure” but is an amount in the nature of a deduction under section 40(b) of the Income-tax Act, 1961. The case also involved an investment in mutual… Read More »