The Central Board of Indirect Taxes and Customs (CBIC) vide its Circular No 188/20/2022-GST dated 27th December 2022 prescribed the manner for filing of an application for refund by unregistered person on account of GST paid on agreement/ contract with a builder for supply of services of construction of flats/ building and long-term insurance policies.
Format of DIR-2 and DIR-8 Form DIR-2 Consent to act as a Director of a Company [Pursuant to section 152(5) and rule 8 of Companies (Appointment and Qualification of Directors) Rules, 2014] To ____________________ PRIVATE LIMITED (A company under Incorporation) Subject: Consent to act as a Director I, ________________, having DIN: NIL hereby give my
Effective from 01st April 2022, government has levied tax on income from virtual digital assets. Let us understand what is VDA and how it is taxed and related accounting issues. The Finance Act 2022 has brought into picture taxation of VDA by introducing Section 2(47(A) by defining what is VDA and section by defining method
Income tax benefits for retired employees under Indian Income Tax Act 1. Higher Basic Exemption Limit: – Out of numerous income tax benefits available for the retired employees, first and foremost benefit is the basic tax exemption limit. For ordinary individual taxpayers, the basic exemption limit, up to which he is not required to pay
48th Meeting of the GST Council 17th December, 2022 *** PRESS RELEASE The 48th Meeting of the GST Council was held on 17th December, 2022 through Video Conference, under the chairpersonship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. Tax rates The GST Council has, inter-alia, made following recommendations for changes in
In continuation of our Series on various important terms used in Start-up , here we are sharing our series-2 comprising of important terms used by industry and vital for any startup to model their business accordingly. S. No. Startup Term Meaning 22 Exercise period It means that when you leave the company or this startup
In continuation of our Series on various important terms used in Start-up , here we are sharing our series-2 comprising of important terms used by industry and vital for any startup to model their business accordingly. S. No. Startup Term Meaning 11 Churn It means that every month or quarter or whatever period for which
What Is a Startup? The term startup refers to a company in the first stages of operations. Startups are founded by one or more entrepreneurs who want to develop a product or service for which they believe there is demand. These companies generally start with high costs and limited revenue, which is why they look
Section 35(1) of CGST Act, 2017 read with rule 56 of CGST Rules 2017 prescribed for maintenance of various records and documents along with other provisions of the act. Highlighting the checklist of accounts and records to be maintained under GST along with the Auditor’s checklist (though audit is not mandatory from FY 2020-21) Exhaustive
In re., Tube Investment of India Limited (GST AAR Uttarakhand) order dated 24.11.2022 Whether nominal recoveries made from the employees who are provided food in the factory canteen would be considered as a “Supply”? Facts of the Case: This is an application under Sub-Section (1) of Section 97 of the Central Goods & Service Tax
