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Read on Goods and Service Tax

GST on monthly subscription received by RWA
GST on monthly subscription received by RWA

GST on monthly subscription received by RWA

Kapil Mittal 27/07/2019 Blog Goods and Service Tax GST Circulars GST Registration 0

CBIC clarified that monthly contribution received by RWA upto INR 7,500/- exempted  from GST, RWA is entitled to take ITC on Capital Goods, Input and input services Central Board of Indirect Taxes & Customs (“CBIC” or “Department”) received various representations regarding ambiguity in complying with

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GST on goods sent outside India under sale or approval basis
GST on goods sent outside India under sale or approval basis

GST on goods sent outside India under sale or approval basis

Sachin Jindal 27/07/2019 Blog Exports of Goods and Services Goods and Service Tax GST Circulars GST Refund 0

CBIC clarifies on taxability of goods sent/ taken out of India for exhibition or on consignment basis for export promotion Indian exporters engage in several business promotion activities outside India in order to expand their outreach globally and increase volumes. Certain activities may require physically

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ITeS and backend support service, Intermediary or not
ITeS and backend support service, Intermediary or not

ITeS and backend support service, Intermediary or not

Kapil Mittal 24/07/2019 Blog Exports of Goods and Services Goods and Service Tax GST Circulars 0

Supplier of ITes services will not be covered under the provision of Intermediary and quality for export of services however provide of certain backend support services to foreign customer will fall under the definition of intermediary and not qualified for export benefits under GST The

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Impact of GST on Post sales Discount
Impact of GST on Post sales Discount

Impact of GST on Post sales Discount

Sachin Jindal 22/07/2019 Blog Goods and Service Tax GST Circulars 0

CBIC clarifies the if post sales discount has been given in pursuant to contract at or before sale, GST would not be applicable on such discount however if given discount require some action at dealer end, GST would be applicable on such discounts as separate

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GST Treatment on Diamond imported to export back for cutting and polishing
GST Treatment on Diamond imported to export back for cutting and polishing

GST Treatment on Diamond imported to export back for cutting and polishing

Kapil Mittal 22/07/2019 Blog Goods and Service Tax POS 0

CBIC clarifies on the place of supply in relation in case of services by ports and place of supply in case of supply of various services on unpolished diamonds which are temporarily imported in to India for re export. The Place of Supply (‘POS’) determines

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GST on additional/ penal interest under EMI schemes
GST on additional/ penal interest under EMI schemes

GST on additional/ penal interest under EMI schemes

Sachin Jindal 22/07/2019 Blog Goods and Service Tax GST Circulars 0

CBIC clarifies on the applicability of GST on additional/ penal interest under EMI schemes An Equated Monthly Instalment (‘EMI’) is a fixed amount paid by the borrower to the lender on a specified date every month. The EMI includes month principal and interest components, which

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Certain Important clarification on GST Audit and GST Annual Returns
Certain Important clarification on GST Audit and GST Annual Returns

Certain Important clarification on GST Audit and GST Annual Returns

Sachin Jindal 17/07/2019 Blog Goods and Service Tax GST Audit GST Returns 0

Considering various issues being faced by industry, Central Board of Indirect Taxes and Customs (“CBIC” or Department”) is coming up with various clarifications very frequently on different issues of GSTR-9 & GSTR-9C.

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Can IGST Refund be seek, where Higher drawback has been claimed on Exports
Can IGST Refund be seek, where Higher drawback has been claimed on Exports

Can IGST Refund be seek, where Higher drawback has been claimed on Exports

Kapil Mittal 17/07/2019 Blog Exports of Goods and Services Goods and Service Tax GST Refund 0

Gujarat High Court rules that claim of higher rate of duty drawback is not a valid reason for rejection of IGST refund on exports Unreasonable delays in grant of refund of Integrated Goods and Services Tax (‘IGST’) has impacted several exporters in the recent past. 

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Read on Company Act

Insolvency and Bankruptcy Code, 2016 is the bankruptcy law
Insolvency and Bankruptcy Code, 2016 is the bankruptcy law

Insolvency and Bankruptcy Code, 2016 is the bankruptcy law

Kavit Vijay 22/07/2019 Blog Company Law Information 0

Insolvency and Bankruptcy Code, 2016 (“The Code”) is the bankruptcy law which contains provisions related to insolvency of companies, partnership firms and individuals. Ministry of Corporate affairs issued a press release dated 17th July, 2019 specifying that Union cabinet approved the proposal to introduce Insolvency

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Reporting about beneficial interest in shares | MGT 6
Reporting about beneficial interest in shares | MGT 6

Reporting about beneficial interest in shares | MGT 6

Kavit Vijay 07/06/2019 Blog Company Law 0

Shareholders are considered as owner of the company as they invest money into the business and as per Companies Act, 2013 (“The Act”), shareholders are entitled to various rights such as voting right, right to dividend etc. However, in certain cases, person holding shares in

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Annual Return of Dormant Company | Form MSC 3
Annual Return of Dormant Company | Form MSC 3

Annual Return of Dormant Company | Form MSC 3

Kavit Vijay 07/06/2019 Blog Company Law 0

We usually came across many such companies which are not having any operations since incorporation or which ceased to have operation from certain period of time. Companies Act, 2013 (“The Act”) provides provision of Dormant company to deal with such kind of companies. Companies Act,

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Intimation of appointment of cost auditor | CRA-2
Intimation of appointment of cost auditor | CRA-2

Intimation of appointment of cost auditor | CRA-2

Kavit Vijay 07/06/2019 Blog Company Law 0

Companies Act, 2013 prescribes various types of audit based on nature of activities carried out by the company such as Internal Audit, Audit of Financial statements, Cost Audit, secretarial audit etc.  Audit is carried out to verify that whether the information provided by the company

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Companies to Report any change in share holding to ROC with in 30 days in FORM BEN 1 and BEN 2
Companies to Report any change in share holding to ROC with in 30 days in FORM BEN 1 and BEN 2

Companies to Report any change in share holding to ROC with in 30 days in FORM BEN 1 and BEN 2

Kavit Vijay 07/06/2019 Blog Company Law ROC Compliances 0

Shareholders are owners of the company as they invest money into company and are interested in financial position of the company. Companies Act, 2013 specifies multiple decisions which are to be taken by members in Annual General Meeting (“AGM”) or Extra-ordinary general (“EGM”) meeting either

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Registered Office of Company | Form INC-22
Registered Office of Company | Form INC-22

Registered Office of Company | Form INC-22

Kavit Vijay 23/05/2019 Blog Company Law ROC Compliances 0

Registered office of the company is that place which is used by Registrar of Company (“RoC”) or any other person for the purpose of communicating with the company. Accordingly, Section 12(1) of the Companies Act, 2013 (“The Act”) has mandated that every company must have

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Resignation of Auditor | Intimation to ROC | ADT-3 E Form
Resignation of Auditor | Intimation to ROC | ADT-3 E Form

Resignation of Auditor | Intimation to ROC | ADT-3 E Form

Kavit Vijay 23/05/2019 Blog Company Law ROC Compliances 0

Registrar of Companies (“RoC”) is the public body which maintains all information about the companies. Information about resignation of Auditor is one of the crucial information as Auditor is an independent qualified professional who reports about correctness of financial statements of the company to its

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Information about appointment or Removal of Director | DIR 12
Information about appointment or Removal of Director | DIR 12

Information about appointment or Removal of Director | DIR 12

Kavit Vijay 23/05/2019 Blog Company Law ROC Compliances 0

Director is a person, appointed by members of the company, for carrying out operations in the company. Directors are those individuals who are held responsible for all the actions taken by company. In case of any non-compliance, Penal provisions of Companies Act, 2013 (“The Act”)

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