ESTATE PLANNING – Care forever…!
Tomorrow is uncertain, but we can be prepared ! Isn’t it our primary duty to take care of our family’s interests by protecting the assets that we have generated over our lifetime and help these assets devolve to the family members in a structured manner without much of a legal hassle? This is how you […]
E-Invoicing for Business with Turn Over above 20Cr ( W.E.F 01-Apr-2022) Are You Ready for It?
E-invoicing or electronic invoicing refers to a method of processing invoices (and/or the data pertaining to the invoice) in an electronic format and on a unified platform between buyers and suppliers. What makes e-invoicing not only relevant, but significant right now is that it digitizes the entire invoicing cycle leveraging data exchange between the parties […]
Have you used your LRS Limits for the year
Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD 2,50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both. Further, resident individuals can avail of foreign exchange facility for the purposes mentioned within the limit of […]
JUDGEMENT REGARDING AVAILMENT OF AD HOC DEDUCTION ON SALE OF UNDER CONSTRUCTION FLATS/UNITS
A Path-breaking judgement in the case of Munjaal Manishbai Bhat vs UOI in R/Special Civil Application no 1350 of 2021 by the Gujarat High Court wherein it has clarified that a portion of GST Notification mandating the deduction of a one-third of the value of land towards construction services deeming it “arbitrary” and thereby struck […]
Statement of Financial Transaction
A report on specified transaction entered into by asseesse which require reporting to Income tax department.
Additional regulatory information for NBFCs
Capital to risk-weighted assets ratio (CRAR) * Tier I CRAR ** Tier II CRAR *** Liquidity Coverage Ratio
(FLA) Return is an Annual Return which is required to be submitted by those entities which have r…
Due Date: 15th July of every year. If the accounts are not audited before the Revised FLA Return shall be submitted by Non-filing of Return by the due date will be due date of submission, then the FLA Return shall be submitted based on unaudited accounts 30th September of the same year. treated as a […]
GST and Service Tax on Secondment of Employees Annveshan
The Apex Court in the matter of Northern Operating Systems Private Limited held that service tax was liable on secondments to Indian entities from overseas groups under the earlier regime of service tax. This will certainly have huge implications under the current regime as the law is the same as under service tax
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