Effective from August 1, 2023, taxpayers with an annual turnover of more than INR 5 Cr will be recognized as “class of registered person” who will be mandated to generate e-invoice.know more in PDF
- The document provides a weekly update on GST from the National Academy of Customs, Indirect Taxes and Narcotics.
- It summarizes that gross GST revenue collected in January 2022 was Rs. 1,38,394 crore, which was 15% higher than the same period last year. Revenues from import of goods were 26% higher.
- Proposed amendments to the CGST Act through the Finance Bill 2022 are aimed at aligning legal provisions with the GSTR-1/GSTR-3B return filing system and include measures for trade facilitation and compliance.
Finance Bill 2023 Full Description of Latest GST Changes | Academy Tax4wealthAcademy Tax4wealth
The Finance Bill, 2023, as introduced in Parliament on February 1, 2023, suggested several modifications to CGST/IGST rules under clauses 128 to 144 of the Finance Bill, 2023. Learn more!
For more information, visit us at:-
https://academy.tax4wealth.com/blog/gst-changes-finance-bill-2023
Finance Bill 2023 Full Description of Latest GST Changes | Academy Tax4wealthAcademy Tax4wealth
The Finance Bill, 2023, as introduced in Parliament on February 1, 2023, suggested several modifications to CGST/IGST rules under clauses 128 to 144 of the Finance Bill, 2023. Learn more!
For more information, visit us at:-
https://academy.tax4wealth.com/blog/gst-changes-finance-bill-2023
The document discusses the key provisions related to Input Tax Credit (ITC) under the GST law in India. It begins by defining ITC and input tax. It then outlines some of the major ITC provisions under the Central GST Act and rules, including those relating to eligibility for ITC, documentation requirements, blocked credits, and time limits. Specific provisions covered in more detail include Section 16 on eligibility and conditions for ITC, Section 17 on apportionment of credit and blocked credits, and restrictions on ITC for works contracts and construction of immovable property. The document provides an overview of the major ITC concepts and sections under the GST law.
Honourable Finance Minister Nirmala Sitharaman has presented her second Union Budget in the Parliament on 01 February 2020.This Budget focused on bringing a series of measures aimed at promoting investments in the country, creating a world class infrastructure and stimulating economic growth.
The document discusses several proposed amendments to the Goods and Services Tax (GST) laws in India through clauses in the Finance Bill 2022. Key points include:
1. Additional conditions have been added for claiming input tax credit (ITC), including that ITC can only be availed if not restricted in supplier communication under Section 38.
2. Time limits have been increased for availing ITC relating to a financial year to 30 November of the next financial year.
3. Additional conditions have been added for cancellation of GST registration if certain return filing conditions are not met.
4. The time limit for issuing credit notes has been increased to 30 November of the following financial year.
1. The document discusses input tax credit under the Goods and Services Tax (GST) in India. It provides definitions of key terms related to input tax credit like input, input service, capital goods, and input tax.
2. It summarizes the conditions for claiming input tax credit, such as possessing valid tax invoices, receiving the goods or services, ensuring the tax has been paid to the government, and filing returns. There are also time limits for claiming input tax credit.
3. The document outlines circumstances where input tax credit is not available, such as when goods or services are used for non-business purposes or making exempt supplies. It also discusses provisions for apportioning credit between taxable and exempt
31 May Weekly Newsletter - N Pahilwani & AssociatesNitin Pahilwani
This weekly newsletter contains income tax and GST updates for the week. For income tax, it summarizes changes to ITR forms for AY 2020-21 including new schedules for investments, the launch of instant PAN through Aadhaar-based e-KYC, and notifications regarding annual information statements replacing Form 26AS. For GST, it provides updates on the GST portal including new registration options for insolvency professionals and enabling EVC filing for companies. It also summarizes some judicial rulings related to transfer of goods ownership, tax deduction at source on exempt supplies, and authority of subordinate officers.
- The document provides a weekly update on GST from the National Academy of Customs, Indirect Taxes and Narcotics.
- It summarizes that gross GST revenue collected in January 2022 was Rs. 1,38,394 crore, which was 15% higher than the same period last year. Revenues from import of goods were 26% higher.
- Proposed amendments to the CGST Act through the Finance Bill 2022 are aimed at aligning legal provisions with the GSTR-1/GSTR-3B return filing system and include measures for trade facilitation and compliance.
Finance Bill 2023 Full Description of Latest GST Changes | Academy Tax4wealthAcademy Tax4wealth
The Finance Bill, 2023, as introduced in Parliament on February 1, 2023, suggested several modifications to CGST/IGST rules under clauses 128 to 144 of the Finance Bill, 2023. Learn more!
For more information, visit us at:-
https://academy.tax4wealth.com/blog/gst-changes-finance-bill-2023
Finance Bill 2023 Full Description of Latest GST Changes | Academy Tax4wealthAcademy Tax4wealth
The Finance Bill, 2023, as introduced in Parliament on February 1, 2023, suggested several modifications to CGST/IGST rules under clauses 128 to 144 of the Finance Bill, 2023. Learn more!
For more information, visit us at:-
https://academy.tax4wealth.com/blog/gst-changes-finance-bill-2023
The document discusses the key provisions related to Input Tax Credit (ITC) under the GST law in India. It begins by defining ITC and input tax. It then outlines some of the major ITC provisions under the Central GST Act and rules, including those relating to eligibility for ITC, documentation requirements, blocked credits, and time limits. Specific provisions covered in more detail include Section 16 on eligibility and conditions for ITC, Section 17 on apportionment of credit and blocked credits, and restrictions on ITC for works contracts and construction of immovable property. The document provides an overview of the major ITC concepts and sections under the GST law.
Honourable Finance Minister Nirmala Sitharaman has presented her second Union Budget in the Parliament on 01 February 2020.This Budget focused on bringing a series of measures aimed at promoting investments in the country, creating a world class infrastructure and stimulating economic growth.
The document discusses several proposed amendments to the Goods and Services Tax (GST) laws in India through clauses in the Finance Bill 2022. Key points include:
1. Additional conditions have been added for claiming input tax credit (ITC), including that ITC can only be availed if not restricted in supplier communication under Section 38.
2. Time limits have been increased for availing ITC relating to a financial year to 30 November of the next financial year.
3. Additional conditions have been added for cancellation of GST registration if certain return filing conditions are not met.
4. The time limit for issuing credit notes has been increased to 30 November of the following financial year.
1. The document discusses input tax credit under the Goods and Services Tax (GST) in India. It provides definitions of key terms related to input tax credit like input, input service, capital goods, and input tax.
2. It summarizes the conditions for claiming input tax credit, such as possessing valid tax invoices, receiving the goods or services, ensuring the tax has been paid to the government, and filing returns. There are also time limits for claiming input tax credit.
3. The document outlines circumstances where input tax credit is not available, such as when goods or services are used for non-business purposes or making exempt supplies. It also discusses provisions for apportioning credit between taxable and exempt
31 May Weekly Newsletter - N Pahilwani & AssociatesNitin Pahilwani
This weekly newsletter contains income tax and GST updates for the week. For income tax, it summarizes changes to ITR forms for AY 2020-21 including new schedules for investments, the launch of instant PAN through Aadhaar-based e-KYC, and notifications regarding annual information statements replacing Form 26AS. For GST, it provides updates on the GST portal including new registration options for insolvency professionals and enabling EVC filing for companies. It also summarizes some judicial rulings related to transfer of goods ownership, tax deduction at source on exempt supplies, and authority of subordinate officers.
Analysis of Finance Act, 2020 vis-à-vis GST
The Finance Act, 2020 has made several amendments to the CGST Act, 2017 and corresponding amendments to the IGST Act, 2017 and UTGST Act, 2017. We have attempted to analyse the provision wise amendment made by the Finance Act, 2020 to the CGST Act, 2017.
The document summarizes three recent announcements from the Central Board of Direct Taxes in India:
1. It relaxes the requirement to provide Unique Identification Numbers for tax forms from the last two quarters of 2015 due to operational constraints faced by stakeholders.
2. It seeks comments on draft rules and forms for determining fair market value of assets and reporting requirements related to the taxation of indirect transfers of Indian assets under section 9(1) of the Income Tax Act.
3. It notifies the formation of a committee to examine applications made under Rule 10VA of the Income Tax Rules regarding the approval of funds for the purpose of section 9A.
Taxguru.in gst compliance calendar oct 21 important legal developmentstaxguru4
The summary provides an overview of the key points from the GST compliance calendar and legal developments for October 2021:
1. Important circulars were issued clarifying that refund of wrongly paid CGST/SGST/IGST can be claimed within 2 years and that for debit notes issued on or after January 1, 2021, the date of debit note will determine the financial year for ITC availment.
2. The October 2021 GST compliance deadlines include filing GSTR-1, GSTR-3B, annual returns and reconciliation statements.
3. The GST portal was updated to allow fetching of bill of entry details and generating e-way bills for supply of services with movement of goods.
This document provides a summary of recent tax law notifications, circulars, and case rulings across Goods and Services Tax (GST) and customs. It covers topics such as clarifications on interest charges for IGST credits, input tax credit claims, the taxability of EV battery charging and vehicle body building services, and an extension of various GST return filing deadlines. Customs updates include increased duties on LPG and related fuels as well as amendments to notifications implementing the recommendations of GST Council meetings.
Newsletter on daily professional updates- 01/04/2020CA PRADEEP GOYAL
“True strength lies in submission which permits one to dedicate his life, through devotion, to something beyond himself."
Presenting Daily dose of professional updates dated 01.04. 2020. This is 200th edition and 1st Newsletter of Financial Year 2020-2021
The document discusses excise duty in India. It provides definitions and details on the following:
1) There are three types of excise duties in India - basic excise duty, additional excise duty, and special excise duty. Additional excise duty is shared between the central and state governments.
2) Excisable goods are those specified under the Central Excise Tariff Act as being subject to excise duty. The manufacturer or producer is liable to pay excise duty.
3) Evasion of excise duty can result in penalties ranging from 25-50% of the evaded duty amount, along with other financial and reputational consequences.
Newsletter on daily professional updates- 18th September 2019CA PRADEEP GOYAL
This daily newsletter provides updates on laws, regulations, and developments in India across various fields including taxation, corporate laws, insolvency and bankruptcy, and the economy. Key updates in this issue include the CBDT waiving the lock-in period for non-resident investment in infrastructure debt funds, the ICAI issuing FAQs on dividend distribution tax under Ind AS, and the RBI releasing a discussion paper on payment gateways and aggregators. The newsletter also summarizes recent court judgments and reports on proposed GST rate cuts.
Newsletter on daily professional updates- 24/03/2020CA PRADEEP GOYAL
“Your mind is a powerful thing.
When you fill it with positive thoughts, your life will start to change.”
Here is your Daily dose of professional updates 24.03.2020, it contains all summary of all 20 GST non-tariff notifications, 2 circulars dated 23/03/200 issued by CBIC. Also contain various updates on Income Tax, Corporate Laws, RBI and others.
Compilation of CBDT Notifications & Circulars issued in July 2020ManishBhatnagar21
Below is the list of Notifications & Circulars issued by CBDT in the month of July 2020 and the same has been compiled so that you won't miss any Notifications & Circulars updates from Income Tax Department:
The document discusses the key aspects of e-invoicing under GST in India. It notes that as per the latest notification, e-invoicing will be mandatory for registered persons whose aggregate turnover in the previous financial year exceeds Rs. 500 crores and will come into effect from October 1st, 2020. It will not apply to SEZ units or sectors like insurance, banking, financial institutions, goods transport, and passenger transport. The invoice registration portal will generate a unique invoice reference number after the specified persons upload the invoice details. E-invoices can only be cancelled on the IRP within 24 hours, while amendments and cancellations can continue to be done on the GST portal as per existing provisions.
The document provides information on the due dates for filing annual GST returns and audit for the 2018-19 financial year. It discusses the applicability of audit requirements based on aggregate turnover, which is the total value of taxable, exempt and export supplies across all registrations with the same PAN. It also summarizes the key parts and tables in form GSTR-9 for filing the annual return and highlights important points about filing, consequences of late or non-filing, and how to analyze the details required in the different sections.
Presentation on Industry 2020: Emerging GST Issues due to COVID-19Taxmann
Topics Covered in this Webinar:
1. ITC on invoices not uploaded by vendors – Amendment in Rule 36(4)
2. Refund/Adjustment of GST already paid on bad debts, and discounts
3. ITC implications if goods are destroyed/disposed off.
4. Eligibility of ITC on masks and sanitizers
Important Topics Covered in the Webinar:
1. How to claim ITC on Invoices of February to
August 2020?
2.Whether full ITC can be availed on invoices
pertaining to period 09.10.2019 to 03.04.2020 on
which no ITC was previously availed?
3. Whether remaining ITC can be claimed in any of
the subsequent months GSTR 3B’s where partial
ITC (10/20%) was availed previously as per Rule
36(4)?
The 50th Council Meeting's outcomes and the issuance of 8 Circulars demonstrate the government's proactive approach to tackling practical issues and seeking resolutions!
However, certain matters remain ambiguous, and the Circulars have inadvertently added complexity to the issues.
Topics include below mentioned is:
1. Differentiation between Input Service Distribution (ISD) and Cross Charge mechanisms.
2. Seeking clarification on e-invoice-related concerns.
3. Addressing queries pertaining to refunds.
4. Determining the taxability of shares held by a holding company in its subsidiary.
5. Seeking clarity on Input Tax Credit (ITC) availability for warranty replacements and repair services during the warranty period.
6. Clarifying TCS liability under Sec 52 of the CGST Act, 2017 in scenarios involving multiple E-commerce Operators in a single transaction.
7. Resolving discrepancies in Input Tax Credit (ITC) availed in FORM GSTR-3B compared to FORM GSTR-2A for the period 01.04.2019 to 31.12.2021.
8. Providing clarification on the charging of interest under section 50(3) of the CGST Act, 2017, in cases of erroneous availment of IGST credit and its subsequent reversal.
We invite you to refer to our newsletter, which simplifies the language used in these Circulars, to gain a better understanding of these matters.
The e-commerce boom was marked by multiple players, rosy valuations and now slowly reality has set in and the price wars have taken their toll. The VAT authorities across the country have had their tryst with this industry with notices, demands, levy of entry tax and litigation. Currently whenever there is a tax or a business problem, the immediate response from the industry or the administrator or the media is that GST is the only solution.
The document discusses payment of Goods and Service Tax (GST) in India, including input tax credit, output tax, electronic ledgers for payment of taxes, interest on delayed payments, tax deduction at source, and refund of GST. It explains the process by which a taxpayer pays GST, including using input tax credits to offset output tax liability and depositing any remaining amount due. It also summarizes provisions around refunds of GST paid.
Presentation on Indirect Proposal of Budget 2023.
Our Partner Ramandeep Singh Bhatia presented the same before the august gathering of members from trade and profession.
#GST #tax #gstupdates #gstindia #gstind
#budget2023 #budget
GST - 24 Things you should know about Draft GST Rules & FormsTaxmann
This document provides a summary of 24 key points about the draft GST rules and forms released by the Central Board of Excise and Customs (CBEC) related to registration, invoices, returns, payments, and refunds under the Goods and Services Tax (GST) regime in India. Some highlights include that registration applications will be made online, invoices must include additional details for large unregistered recipients, returns will involve filing outward supply details in Form GSTR-1 and inward supply details in Form GSTR-2, payments will involve electronic ledgers to track tax liability, credits, and amounts paid, and refund claims can receive provisional refunds of 80% under certain conditions.
GST - 24 Things you should know about Draft GST Rules & FormsTaxmann
This document provides a summary of 24 key points about the draft GST rules and forms released by the Central Board of Excise and Customs (CBEC) related to registration, invoices, returns, payments, and refunds under the Goods and Services Tax (GST) regime in India. Some highlights include that registration applications will be made online, registration will generally be granted within 3-7 days, invoices must include certain details for supplies over Rs. 50,000, registered taxpayers will file monthly GSTR-1, GSTR-2 and GSTR-3 returns, electronic ledgers will track tax liability, credits, and payments, and refund claims can receive provisional 80% refunds under certain conditions.
This newsletter summarizes recent Indian tax law updates from December 2016. Key points include:
- Premiums paid on keyman insurance for partners are deductible business expenses.
- PAN is now mandatory for cash deposits over Rs. 50,000 per day or Rs. 250,000 total by December 31, 2016.
- The upcoming Union Budget will be presented on February 1.
- The highest tax depreciation rate is now capped at 40% for all assets.
- Amendments were introduced to tax undisclosed cash deposits post demonetization.
- Recent court cases addressed issues like interest under section 234C and defects in tax applications.
- International tax agreements were updated or signed with countries like
Export Control Law Firm_ Customs Law Firm_ SCOMET assistance_ BIS assistance.pdfEconomic Laws Practice
Trust Economic Laws Practice (ELP) to ensure supply chain compliance and mitigate export control risks in India. Our dedicated team of export control lawyers offers proactive legal support and tailored strategies to address regulatory requirements and enhance your supply chain efficiency. Partner with ELP for reliable guidance and seamless compliance assurance. For More Details: https://elplaw.in/practicearea/supply-chain-customs/
Maximizing Legal Compliance in Hospitality: ELP Law's Tailored SolutionsEconomic Laws Practice
Ensure compliance with regulatory requirements and industry standards in the hospitality sector with ELP Law's tailored legal solutions. Our proactive approach and attention to detail empower your business to operate efficiently while minimizing legal risks. for more details: https://elplaw.in/practicearea/hospitality/
More Related Content
Similar to E-invoicing-Whether the relevant provisions of GST law require patchwork.pdf
Analysis of Finance Act, 2020 vis-à-vis GST
The Finance Act, 2020 has made several amendments to the CGST Act, 2017 and corresponding amendments to the IGST Act, 2017 and UTGST Act, 2017. We have attempted to analyse the provision wise amendment made by the Finance Act, 2020 to the CGST Act, 2017.
The document summarizes three recent announcements from the Central Board of Direct Taxes in India:
1. It relaxes the requirement to provide Unique Identification Numbers for tax forms from the last two quarters of 2015 due to operational constraints faced by stakeholders.
2. It seeks comments on draft rules and forms for determining fair market value of assets and reporting requirements related to the taxation of indirect transfers of Indian assets under section 9(1) of the Income Tax Act.
3. It notifies the formation of a committee to examine applications made under Rule 10VA of the Income Tax Rules regarding the approval of funds for the purpose of section 9A.
Taxguru.in gst compliance calendar oct 21 important legal developmentstaxguru4
The summary provides an overview of the key points from the GST compliance calendar and legal developments for October 2021:
1. Important circulars were issued clarifying that refund of wrongly paid CGST/SGST/IGST can be claimed within 2 years and that for debit notes issued on or after January 1, 2021, the date of debit note will determine the financial year for ITC availment.
2. The October 2021 GST compliance deadlines include filing GSTR-1, GSTR-3B, annual returns and reconciliation statements.
3. The GST portal was updated to allow fetching of bill of entry details and generating e-way bills for supply of services with movement of goods.
This document provides a summary of recent tax law notifications, circulars, and case rulings across Goods and Services Tax (GST) and customs. It covers topics such as clarifications on interest charges for IGST credits, input tax credit claims, the taxability of EV battery charging and vehicle body building services, and an extension of various GST return filing deadlines. Customs updates include increased duties on LPG and related fuels as well as amendments to notifications implementing the recommendations of GST Council meetings.
Newsletter on daily professional updates- 01/04/2020CA PRADEEP GOYAL
“True strength lies in submission which permits one to dedicate his life, through devotion, to something beyond himself."
Presenting Daily dose of professional updates dated 01.04. 2020. This is 200th edition and 1st Newsletter of Financial Year 2020-2021
The document discusses excise duty in India. It provides definitions and details on the following:
1) There are three types of excise duties in India - basic excise duty, additional excise duty, and special excise duty. Additional excise duty is shared between the central and state governments.
2) Excisable goods are those specified under the Central Excise Tariff Act as being subject to excise duty. The manufacturer or producer is liable to pay excise duty.
3) Evasion of excise duty can result in penalties ranging from 25-50% of the evaded duty amount, along with other financial and reputational consequences.
Newsletter on daily professional updates- 18th September 2019CA PRADEEP GOYAL
This daily newsletter provides updates on laws, regulations, and developments in India across various fields including taxation, corporate laws, insolvency and bankruptcy, and the economy. Key updates in this issue include the CBDT waiving the lock-in period for non-resident investment in infrastructure debt funds, the ICAI issuing FAQs on dividend distribution tax under Ind AS, and the RBI releasing a discussion paper on payment gateways and aggregators. The newsletter also summarizes recent court judgments and reports on proposed GST rate cuts.
Newsletter on daily professional updates- 24/03/2020CA PRADEEP GOYAL
“Your mind is a powerful thing.
When you fill it with positive thoughts, your life will start to change.”
Here is your Daily dose of professional updates 24.03.2020, it contains all summary of all 20 GST non-tariff notifications, 2 circulars dated 23/03/200 issued by CBIC. Also contain various updates on Income Tax, Corporate Laws, RBI and others.
Compilation of CBDT Notifications & Circulars issued in July 2020ManishBhatnagar21
Below is the list of Notifications & Circulars issued by CBDT in the month of July 2020 and the same has been compiled so that you won't miss any Notifications & Circulars updates from Income Tax Department:
The document discusses the key aspects of e-invoicing under GST in India. It notes that as per the latest notification, e-invoicing will be mandatory for registered persons whose aggregate turnover in the previous financial year exceeds Rs. 500 crores and will come into effect from October 1st, 2020. It will not apply to SEZ units or sectors like insurance, banking, financial institutions, goods transport, and passenger transport. The invoice registration portal will generate a unique invoice reference number after the specified persons upload the invoice details. E-invoices can only be cancelled on the IRP within 24 hours, while amendments and cancellations can continue to be done on the GST portal as per existing provisions.
The document provides information on the due dates for filing annual GST returns and audit for the 2018-19 financial year. It discusses the applicability of audit requirements based on aggregate turnover, which is the total value of taxable, exempt and export supplies across all registrations with the same PAN. It also summarizes the key parts and tables in form GSTR-9 for filing the annual return and highlights important points about filing, consequences of late or non-filing, and how to analyze the details required in the different sections.
Presentation on Industry 2020: Emerging GST Issues due to COVID-19Taxmann
Topics Covered in this Webinar:
1. ITC on invoices not uploaded by vendors – Amendment in Rule 36(4)
2. Refund/Adjustment of GST already paid on bad debts, and discounts
3. ITC implications if goods are destroyed/disposed off.
4. Eligibility of ITC on masks and sanitizers
Important Topics Covered in the Webinar:
1. How to claim ITC on Invoices of February to
August 2020?
2.Whether full ITC can be availed on invoices
pertaining to period 09.10.2019 to 03.04.2020 on
which no ITC was previously availed?
3. Whether remaining ITC can be claimed in any of
the subsequent months GSTR 3B’s where partial
ITC (10/20%) was availed previously as per Rule
36(4)?
The 50th Council Meeting's outcomes and the issuance of 8 Circulars demonstrate the government's proactive approach to tackling practical issues and seeking resolutions!
However, certain matters remain ambiguous, and the Circulars have inadvertently added complexity to the issues.
Topics include below mentioned is:
1. Differentiation between Input Service Distribution (ISD) and Cross Charge mechanisms.
2. Seeking clarification on e-invoice-related concerns.
3. Addressing queries pertaining to refunds.
4. Determining the taxability of shares held by a holding company in its subsidiary.
5. Seeking clarity on Input Tax Credit (ITC) availability for warranty replacements and repair services during the warranty period.
6. Clarifying TCS liability under Sec 52 of the CGST Act, 2017 in scenarios involving multiple E-commerce Operators in a single transaction.
7. Resolving discrepancies in Input Tax Credit (ITC) availed in FORM GSTR-3B compared to FORM GSTR-2A for the period 01.04.2019 to 31.12.2021.
8. Providing clarification on the charging of interest under section 50(3) of the CGST Act, 2017, in cases of erroneous availment of IGST credit and its subsequent reversal.
We invite you to refer to our newsletter, which simplifies the language used in these Circulars, to gain a better understanding of these matters.
The e-commerce boom was marked by multiple players, rosy valuations and now slowly reality has set in and the price wars have taken their toll. The VAT authorities across the country have had their tryst with this industry with notices, demands, levy of entry tax and litigation. Currently whenever there is a tax or a business problem, the immediate response from the industry or the administrator or the media is that GST is the only solution.
The document discusses payment of Goods and Service Tax (GST) in India, including input tax credit, output tax, electronic ledgers for payment of taxes, interest on delayed payments, tax deduction at source, and refund of GST. It explains the process by which a taxpayer pays GST, including using input tax credits to offset output tax liability and depositing any remaining amount due. It also summarizes provisions around refunds of GST paid.
Presentation on Indirect Proposal of Budget 2023.
Our Partner Ramandeep Singh Bhatia presented the same before the august gathering of members from trade and profession.
#GST #tax #gstupdates #gstindia #gstind
#budget2023 #budget
GST - 24 Things you should know about Draft GST Rules & FormsTaxmann
This document provides a summary of 24 key points about the draft GST rules and forms released by the Central Board of Excise and Customs (CBEC) related to registration, invoices, returns, payments, and refunds under the Goods and Services Tax (GST) regime in India. Some highlights include that registration applications will be made online, invoices must include additional details for large unregistered recipients, returns will involve filing outward supply details in Form GSTR-1 and inward supply details in Form GSTR-2, payments will involve electronic ledgers to track tax liability, credits, and amounts paid, and refund claims can receive provisional refunds of 80% under certain conditions.
GST - 24 Things you should know about Draft GST Rules & FormsTaxmann
This document provides a summary of 24 key points about the draft GST rules and forms released by the Central Board of Excise and Customs (CBEC) related to registration, invoices, returns, payments, and refunds under the Goods and Services Tax (GST) regime in India. Some highlights include that registration applications will be made online, registration will generally be granted within 3-7 days, invoices must include certain details for supplies over Rs. 50,000, registered taxpayers will file monthly GSTR-1, GSTR-2 and GSTR-3 returns, electronic ledgers will track tax liability, credits, and payments, and refund claims can receive provisional 80% refunds under certain conditions.
This newsletter summarizes recent Indian tax law updates from December 2016. Key points include:
- Premiums paid on keyman insurance for partners are deductible business expenses.
- PAN is now mandatory for cash deposits over Rs. 50,000 per day or Rs. 250,000 total by December 31, 2016.
- The upcoming Union Budget will be presented on February 1.
- The highest tax depreciation rate is now capped at 40% for all assets.
- Amendments were introduced to tax undisclosed cash deposits post demonetization.
- Recent court cases addressed issues like interest under section 234C and defects in tax applications.
- International tax agreements were updated or signed with countries like
Similar to E-invoicing-Whether the relevant provisions of GST law require patchwork.pdf (20)
Export Control Law Firm_ Customs Law Firm_ SCOMET assistance_ BIS assistance.pdfEconomic Laws Practice
Trust Economic Laws Practice (ELP) to ensure supply chain compliance and mitigate export control risks in India. Our dedicated team of export control lawyers offers proactive legal support and tailored strategies to address regulatory requirements and enhance your supply chain efficiency. Partner with ELP for reliable guidance and seamless compliance assurance. For More Details: https://elplaw.in/practicearea/supply-chain-customs/
Maximizing Legal Compliance in Hospitality: ELP Law's Tailored SolutionsEconomic Laws Practice
Ensure compliance with regulatory requirements and industry standards in the hospitality sector with ELP Law's tailored legal solutions. Our proactive approach and attention to detail empower your business to operate efficiently while minimizing legal risks. for more details: https://elplaw.in/practicearea/hospitality/
"Excellence in Hospitality Law: Economic Laws Practice - Premier HospitalityEconomic Laws Practice
Empower your hospitality business with Economic Laws Practice, home to expert lawyers specializing in hospitality law. Our firm provides proactive compliance solutions to ensure regulatory adherence and minimize risk exposure in the dynamic hospitality industry. Connect with us for comprehensive legal support: https://elplaw.in/practicearea/hospitality/ #HospitalityCompliance #ELP #LegalEmpowerment
Efficient Tax Planning: Economic Laws Practice - Your Path to Financial Succe...Economic Laws Practice
Access comprehensive tax solutions with Economic Laws Practice as your leading partner in direct and indirect tax matters in India. Our team provides expert guidance and effective strategies to address all your tax-related needs, ensuring compliance and success. Discover our services: https://elplaw.in/practicearea/tax/
The 28th meeting of the Conference of Parties, i.e. COP28, came to a close on December 13, 2023. Spread across two weeks, COP28 saw national leaders, international organizations, businesses, and academics convene to address pressing global climate issues.
The Supreme Court (SC) in the recent ruling in the matter of Nestle SA1 examined the most favoured nation (MFN)
clause contained in India's Double Tax Avoidance Agreements (DTAA) with Netherlands, France, and Switzerland.
The document provides a summary of recent developments related to competition law and policy in India. It discusses five key cases:
1) The CCI closed an investigation against Tata Motors, finding a lack of adverse effects on competition from the alleged restrictions on dealers.
2) The CCI did not impose penalties on the Chandigarh Housing Board and two Chemists Associations after they took corrective action to address CCI's concerns.
3) The NCLAT upheld the CCI's dismissal of allegations against the PVR-INOX merger, agreeing the merger was a combination subject to Section 4, not Section 3.
4) The Madras HC upheld the CCI's power to
The document provides updates on climate change negotiations and policies. It discusses:
1) The findings of the UN's first global stocktake report under the Paris Agreement, which concluded the world is not on track to meet its goals of limiting warming to 2°C.
2) Details agreed for the new Loss and Damage Fund for developing countries, including that it will be hosted by the World Bank for 4 years.
3) Stakeholder consultations being held by India's Bureau of Energy Efficiency on draft rules for implementing its domestic carbon market.
4) Key policies adopted by China to revamp its national carbon market, including stricter monitoring and a unified trading platform.
Before their enforcement by respective ministries, Quality Control Orders have been formally presented to the World Trade Organization ("WTO”) Technical Barriers to Trade Committee (“TBT”) for its input and comments within 60 days from their respective notification dates. Given below is the list of Quality Control Orders (“QCO") issued during the month of September 2023:
This document summarizes trade remedial updates from various countries. It reports that the USA, India, EU, and UK have initiated investigations into unfair trade practices and subsidies involving products from countries such as China, Korea, Vietnam and more. It also provides updates on trade policy developments at the WTO, customs notices from India, and sanctions information from the USA and EU.
The document summarizes key trade remedial updates from various countries in September 2023. It notes that the US initiated preliminary reviews regarding anti-dumping and countervailing duties on Chinese solar panels and Korean dioctyl terephthalate. It also provides updates on trade remedies and investigations from the UK, EU, India, and WTO discussions. The document concludes with sections on customs notices, sanctions actions, and disclaimers.
While the Income Tax Act and GST laws both allow deduction or input tax credit for business expenditures, there are some key divergences between the two:
1. The negative lists of disallowed expenditures are distinct under the two laws, with Income Tax focused on compliance and GST on expenditures without a link to taxable supplies.
2. Capital expenditures are treated differently, being fully deductible under GST but requiring an express provision under Income Tax.
3. GST requires payment to the supplier within 180 days to claim input tax credit, whereas Income Tax deduction is based on accounting year.
4. GST has introduced a one-to-one matching requirement for input tax credit claims not
Important Judgments Under SARFAESI ACT, DRBT ACT & IBC on the Issue of Priority of Secured Creditors, Sale of Secured Assets and Jurisdiction of the Civil Courts.
SCOMET-Update-Amendment-to-Appendix-3-List-of-SCOMET-Items-to-Schedule-2-of-I...Economic Laws Practice
Dear Reader,
We are writing to you with an important update regarding the list of Special Chemicals, Organisms, Materials, Equipment, and Technologies
(SCOMET) items regulated by the Directorate General of Foreign Trade (DGFT), India.
On August 3, 2023, the Government of India, introduced the fifth iteration of India's proposed personal data protection
legislation, i.e., the Digital Personal Data Protection Bill, 2023 (DPDP Bill) in Parliament. Previously, in December 2022,
the Ministry of Electronics and Information Technology had released a draft version of the bill (2022 Draft), inviting
public comments thereto.
Once in force, the DPDP Bill aims to amend and omit some of the
The European Union (EU) has a history of proactively framing laws governing emerging issues. A notable example is
the EU's General Data Protection Regulation (GDPR), which set a global standard for privacy protection by granting
comprehensive rights to EU citizens over their personal data, regardless of where the data is stored or used. The EU
has also taken a leading role in combating climate change and reducing greenhouse gas emissions through its
Emissions Trading System.
SEBI tightens compliances and disclosures for listed entities - Amends LODR R...Economic Laws Practice
SEBI has notified various amendments to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”) vide the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2023 (Amendment Regulations).
Notice that the final results of the administrative review of the countervailing duty order on certain steel racks and parts thereof from China, covering the period of review January 1, 2020 through December 31, 2020 to correct ministerial errors.
On May 15, 2023, the Directorate General of Trade Remedies (“DGTR”) recommended a levy of safeguard
measures in the form of quantitative restrictions on imports of Polyvinyl Chloride (PVC) Suspension Resins with
Residual Vinyl Chloride Monomer (RVCM) Content above 2 PPM (“PUC”). This is the second such
recommendation made by the Indian DGTR.
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...Herman Kienhuis
Presentation by Herman Kienhuis (Curiosity VC) on developments in AI, the venture capital investment landscape and Curiosity VC's approach to investing, at the alumni event of Amsterdam Business School (University of Amsterdam) on June 13, 2024 in Amsterdam.
Zodiac Signs and Food Preferences_ What Your Sign Says About Your Tastemy Pandit
Know what your zodiac sign says about your taste in food! Explore how the 12 zodiac signs influence your culinary preferences with insights from MyPandit. Dive into astrology and flavors!
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...Neil Horowitz
On episode 272 of the Digital and Social Media Sports Podcast, Neil chatted with Brian Fitzsimmons, Director of Licensing and Business Development for Barstool Sports.
What follows is a collection of snippets from the podcast. To hear the full interview and more, check out the podcast on all podcast platforms and at www.dsmsports.net
Call8328958814 satta matka Kalyan result satta guessing➑➌➋➑➒➎➑➑➊➍
Satta Matka Kalyan Main Mumbai Fastest Results
Satta Matka ❋ Sattamatka ❋ New Mumbai Ratan Satta Matka ❋ Fast Matka ❋ Milan Market ❋ Kalyan Matka Results ❋ Satta Game ❋ Matka Game ❋ Satta Matka ❋ Kalyan Satta Matka ❋ Mumbai Main ❋ Online Matka Results ❋ Satta Matka Tips ❋ Milan Chart ❋ Satta Matka Boss❋ New Star Day ❋ Satta King ❋ Live Satta Matka Results ❋ Satta Matka Company ❋ Indian Matka ❋ Satta Matka 143❋ Kalyan Night Matka..
HR search is critical to a company's success because it ensures the correct people are in place. HR search integrates workforce capabilities with company goals by painstakingly identifying, screening, and employing qualified candidates, supporting innovation, productivity, and growth. Efficient talent acquisition improves teamwork while encouraging collaboration. Also, it reduces turnover, saves money, and ensures consistency. Furthermore, HR search discovers and develops leadership potential, resulting in a strong pipeline of future leaders. Finally, this strategic approach to recruitment enables businesses to respond to market changes, beat competitors, and achieve long-term success.
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
Best Competitive Marble Pricing in Dubai - ☎ 9928909666Stone Art Hub
Stone Art Hub offers the best competitive Marble Pricing in Dubai, ensuring affordability without compromising quality. With a wide range of exquisite marble options to choose from, you can enhance your spaces with elegance and sophistication. For inquiries or orders, contact us at ☎ 9928909666. Experience luxury at unbeatable prices.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
The Steadfast and Reliable Bull: Taurus Zodiac Signmy Pandit
Explore the steadfast and reliable nature of the Taurus Zodiac Sign. Discover the personality traits, key dates, and horoscope insights that define the determined and practical Taurus, and learn how their grounded nature makes them the anchor of the zodiac.
4 Benefits of Partnering with an OnlyFans Agency for Content Creators.pdfonlyfansmanagedau
In the competitive world of content creation, standing out and maximising revenue on platforms like OnlyFans can be challenging. This is where partnering with an OnlyFans agency can make a significant difference. Here are five key benefits for content creators considering this option:
𝐔𝐧𝐯𝐞𝐢𝐥 𝐭𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐄𝐧𝐞𝐫𝐠𝐲 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲 𝐰𝐢𝐭𝐡 𝐍𝐄𝐖𝐍𝐓𝐈𝐃𝐄’𝐬 𝐋𝐚𝐭𝐞𝐬𝐭 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬
Explore the details in our newly released product manual, which showcases NEWNTIDE's advanced heat pump technologies. Delve into our energy-efficient and eco-friendly solutions tailored for diverse global markets.
❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Final ank Satta Matka Dpbos Final ank Satta Matta Matka 143 Kalyan Matka Guessing Final Matka Final ank Today Matka 420 Satta Batta Satta 143 Kalyan Chart Main Bazar Chart vip Matka Guessing Dpboss 143 Guessing Kalyan night
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...my Pandit
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.