INDIRECT TAX
GST on the Residential Dwelling rented to Registered Tax Person Under GST
In pursuance of the 47th GST Council meeting held on the 28th and 29th of June 2022, the Central Government has issued a series of Notifications and circulars to give the effect of its recommendation. On 13th July 2022, the Government issued rate Notifications, and it is effective from 18th July 2022.
GST ON DIRECTOR’S REMUNERATION
An independent director should not be an employee of the company in any of three financial year preceding the year he is proposed to be a director. Since, there is no relationship of employer or employee it does not fall under schedule III of CGST Act 2017 and therefore RCM is applicable for the company.
Slump Sale -is it still Tax Efficient?
Provision for Slump Sale has been significantly amended by Finance Act 2021 . This has retrospective ef ect even for slump sale concluded in FY 20-21 . The transaction structuring landscape would predominantly change
Weekly Update – 1
1.Circular / Instructions / Notifications – Goods and Service Tax (GST) 2. Judicial Pronouncement – Goods and Service Tax (GST) – Service Tax / Central Excise / VAT
Weekly Update – 2
1.Circular / Instructions / Notifications – Goods and Service Tax (GST) – Directorate General of Foreign Trade (DGFT) 2. Judicial Pronouncement – Goods and Service Tax (GST) – Service Tax / Central Excise / VAT
Notifications to give the effect of the Recommendation of 47th GST COUNCIL MEETING
Series of Notification has been issued on 05.07.2022 by CBIC to give effect to some of the recommendations of the 47th GST Council Meeting held on 29th and 30th June 2022.The nuclei of the same are provided herein below.
Circulars to give the effect of the Recommendation of 47th GST COUNCIL MEETING
CBIC’s policy wing has issued various circulars pursuant to the 47th GST Council meeting. We at Annveshan have made an attempt to provide the gist of circulars in a lucid manner.