Value of Supply What is the Value of Supply? The value of Supply in common terms is nothing but the amount paid by the recipient on supply to the supplier… Read More
Nature of Supply Under GST Act What is Nature of Supply: The Nature of Supply refers to “the relationship between the various possible prices of a product and the quantities of… Read More
Levy of GST The Act came into effect on 1st July 2017; Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.… Read More
Indirect Tax Updates: The Goods and Services Tax Council will focus on lowering the tax rate on under-construction properties. A ministerial panel has firmed up its recommendations in this respect,… Read More
MSME Mandatory Reporting: The government has given a new turnover based classification of MSMEs in February 2018. As per this new classification, the MSMEs are categorized in term of business… Read More
Indirect Tax Updates: Almost 73% of Indian received ‘angel tax’ notices more than 2,500 startups and entrepreneurs While the government has indicated that it is working to resolve the issue… Read More
Complete Overviews of Unique Document Identification Number(UDIN) UDIN - ICAI Council has decided UDIN can be generated within 60 days (in place of 15 days). ICAI: Without UDINs in all IT… Read More
Indirect Tax Updates: FAQ’s on GST: Ques. Is a “Bill of Supply” to be issued by a bank for exempt services like interest on loans and advances, inter-sale or purchase… Read More
Direct Tax Updates: The Income Tax department has come to know about the downstream investments with the US government sharing information on downstream companies that are incorporated there. Since 2012,… Read More
Direct Tax Updates: May Raise Investment Limit of Angel Tax Concessions for Startups from existing INR 10 Crore to INR 25-40 Crore. Monetary limits prescribed for filing of IT appeals… Read More