Service Tax Internal Audit CENVAT Companies Act LLP Basic concept GST GST Registration GST Returns GST Rates Income Tax Salary Income Housing property Business Income Presumptive Income Capital Gain Other Income TDS Return Case Laws Partnership Firm Accounting Definitions Accounting Standards CA Notes IPCC Notes CA Final Notes Rankholder's Interview Management TopCA's Interview

  • All About CGST, SGST on Intermediary Services to Foreign Clients Constitutionally Valid

    The Gujarat High Court has upheld the constitutional validity of section 13(8) (b) of the IGST Act. The section covers the place of supply for intermediary services under GST. The case being referred to is Material Recycling Association of India versus UoI, where the petitioner challenged the validity of this provision for Articles 14, 19, 265 and 286 of the Indian

  • FSSAI Issues Guidelines for Food Recall- A Guide Book


    Food on sale for human consumption must be wholesome, unadulterated, uncontaminated and properly labeled. Any violation of these provisions can lead to regulatory action against the concerned FBO under the Act, or Rules and Regulations made

  • Article on Direct & Indirect Tax Updates June 2021


    Recent circulars/ notifications/ rules/ clarifications/News

    ♦ CBDT issues Notification extending various Income Tax due date extended to the 30th September, 2021)

  • ITC reporting in GSTR-9: GSTR-2A reconciliation, Challenges & clarifications- A Complete Discussion

    The taxpayers must carefully verify the correctness of the information being reported in the GSTR-9. Moreover, the GSTR-9 annual returns once filed cannot be revised for the details reported therein. On the other hand, the auditors have the responsibility to give a true and correct opinion/certification on whether the criteria laid down under the GST law have been

  • All About GST Audit Checklist FY 2021-22

    Goods and Service Tax (“GST”) is the major source of revenue for both center and state governments and any non-compliance on part of the taxpayer may result in huge losses to the government. Government keeps various checks to ensure that taxpayers are complying with the provisions and all transactions are genuinely entered such as Reconciliation ITC appearing in

  • Article on Goods Transport Agency under GST

    Highlights of Article

    All Transport services by road are exempt from GST except services from GTA and Courier agency.

    Anyone who provides consignment note for goods delivery will be

  • All About Refund Under GST- Not an Easy Nut to Crack

    Last month, the government introduced legislation to implement the purchaser GST withholding regime for new residential premises.

    The Treasury Laws Amendment (2018 Measures No. 1) Bill 2018, if passed in its current state, will see purchasers of new residential premises or

  • All About Input Service Distributor (ISD) | Section 20 & 21 | CGST Act 2017 | GST

    1. The concept of Input Service Distributor (ISD) has its roots in the service tax regime. The Head office of an organization obtains services that are common for all the company’s units located across the country. The supplier of such services issues an invoice in the name of the company’s head office. These services are utilized by all the units of the

  • All About Supply of vouchers & it’s taxability under GST

    With the increasing trend of electronic commerce, adoption of prepaid vouchers and gift cards has reached new heights. Vouchers are instruments which are redeemable on its face value against supply of goods or services. For example, multi-brand retailers supply gift

  • GST on street lighting activity under Energy Performance Contract- An Overview

    In re Karnataka State Electronics Development Corporation Limited (GST AAR Karnataka)
    i. Whether the street lighting activity under the Energy Performance Contract dated 05.12.2016 is to be considered as Supply of goods or a Supply of Services under the CGST / KGST Act 2017?

  • Presumptive Incomes Under Income Tax Act

    Presumptive Income means Calculation of Incomes on Basis predefined Percentage of Receipt  i.e Certain Portion of Receipt is Treated as Income and Rest of Receipt Treated as Demeed Expenditure irrespective of Expenditure is done or not. Assessee may declare Income more then Income as per Calculation based presumptive Income. When assessee declare Income equal to or more then Income defined as Presumptive

  • Key Concepts in Standard on Auditing 200-299

    SA 200: Overall  Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing

    Objective of audit to obtain Reasonable Assurance about Financial Statements are free from Material Misstatements and express opinion in form of Audit Report.

    Auditor should fulfill Ethical Requirements in Relation to Audit of Financial Statements.


  • Different Types of ROC E-Forms

    Form DIR-3C: - Intimation of Director Identification Number (DIN) by the company to the Registrar DIN services              

    Form CRL-1: - Information to the Registrar by company regarding the number of layers of subsidiaries. 

    Form CRA-2 -Form of

  • CA Final Direct Tax Amendments as applicable for May 2018 and Nov 2018 by CA. Dinesh Tejwani for CA students and CA professionals

    CA Final Direct Tax Amendments as applicable for May 2018 and Nov 2018 exams B...

  • Recent Updates in Goods and Service Tax – GST

    Applicability of E - Way Bill on Inter State Basis from 1st April 2018:-

    From 1st April 2018 E – Way Bill

  • Composition Scheme under Goods and Service Tax

    To Reduce Burden of More Compliance of Law and Regulation under Goods and Service Tax Composition Scheme was introduced by Government of India for Small Businesses. It helps small businessmen to concentrate more on business rather than Compliance of Goods and Service Tax. Composition Scheme is defined under section 10

  • Different Special  Tax Rates  in Income Tax

     Rate of Tax on Long Term Capital Gain

    When Security Transaction Tax (STT) is Paid: - Any Long Term Capital Gain arises on Sale of Securities (not held as Stock in Trade) through Stock Exchange on which STT is Paid then Rate of Tax will NIL (Exempted from Tax) for Gain Up to Rs. 1 Lakh and Any Long Term Capital Gain arises on Sale of Securities (not held as Stock in Trade) through Stock Exchange on which STT is Paid exceeding Rs. 1

  • Supply in Goods and Service Tax

    Supply means and includes all forms of supply of goods and/or services such as sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business.

    Input Tax Credit (ITC) in GST and Utilisation of Input Tax Credit


    Input Tax Credit (ITC) means Integrated Goods and Service Tax (IGST), Central Goods and Service Tax (CGST), State Goods and Service Tax (SGST) and Union Territory Goods and Service Tax (UGST) charged on Supply of Goods or Supply of Service or Supply of Both Made to Tax Payer to use in business and furtherance of his business i.e. Integrated Goods and Service Tax

  • Implication of Securities Transaction Tax (STT)


    Securities Transaction Tax (STT): -Securities Transaction Tax is type of Tax levied on Purchase or Sale of Securities (Equity Shares, Equity Oriented Mutual Fund, and Option Contracts in Securities and Futures in Securities etc.)  through recognized stock exchange. Any Assesse