The Hon’ble Finance Minister Smt. Nirmala Sitharaman on 01st February 2022 presented the Union Budget 2022. The budget is a vision document and has given ample scope for the youth to turn into entrepreneurs and in turn, become employment generators. Recently, there has been a
Table of Contents Goods and services taxKey changesApplicability of proposed amendmentsSection 16: Eligibility and Conditions for taking ITCSection 16: Eligibility and Conditions for taking ITCSection 29: Cancellation or suspension of RegistrationSection 34 – Credit and Debit notesSection 37 – Furnishing details of outward suppliesSection 38
An employee stock option plan (ESOP) is an employee benefit plan that gives employees an ownership interest in the company. It has various benefits for the company as well as to the employees ESOPs gives the right to own a part of the company to
Table of Contents Introduction:-Brief facts of the case were as under:-The court held as under:- Introduction:- The legislature has intentionally drafted the provisions relating to Search and Survey in the statute book of Income Tax Act, 1961 with the target of unearthing the undisclosed income
EDITORIAL Friends, Recently, a detailed guideline has been issued by The Central Board of Direct Taxes (CBDT) in the matter of how taxes would be calculated on maturity proceeds of ULIPs vide Circular No. 2 of 2022 dated 19th January 2022. The CBDT, which frames
EDITORIAL GST on transactions between Head office and Branch office has been a contentious issue since the inception of GST as the said transactions were not liable to any tax under the pre-GST regime. A recent ruling by the Appellate Authority for Advance Ruling (AAAR)
Saiher Supply Chain Consulting Pvt. Ltd. D-902, Times Square Building, Marol, Andheri Kurla Road, Andheri East, Mumbai – 400 059 Versus 1. The Union Of India & Ministry of Law and Justice, 4th Floor, A Wing, Rajendra Prasad Road, Shastri Bhavan, New Delhi – 110
EDITORIAL As a facilitation measure for taxpayers & for assisting the taxpayers in doing a correct self-assessment, a new functionality of interest calculator is being released in GSTR-3B. This functionality will arrive at the system computed interest on the basis of the tax liability values
The Harmonized System of Nomenclature or HSN is an internal system of naming goods. Conceptualized by the World Customs Organisation, the main purpose of HSN is to classify goods in a systematic and logical manner. This brings in a uniform classification of goods and facilitates
The 46th GST Council meeting, chaired by Hon’ble Finance Minister and comprising state FMs, was held on December 31, 2021, with a single agenda to consider Gujarat’s demand of putting the rate hike on textiles decision on hold, as also representations received from trade in
