Direct tax Updates: DIRECTORATE OF INCOME TAX (SYSTEM) issued Instruction No. 6 dt. 20-02-2019 regarding Processing of Return of AY 2017-18 and Issue of notice for prima facie adjustment under 143(1)(a).… Read More
Direct Tax Updates: The government announced a series of changes aimed at freeing investors and entrepreneurs from the so-called angel tax that’s roiled India’s startup ecosystem. It raised the exemption… Read More
Direct Tax Updates: Case Law On Income Tax: Shrivardhan Mohta Vs. Union Of India Prospective application of Black Money - the Act of 1961 does not impose a punishment of imprisonment while… Read More
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