What is The "Service" in Supply of Food - Only its Preparation?

  • Category: Others
  • Date: 22-11-2021
  • Writers: CA Madhukar N Hiregange, Shilpi Jain

Reading of Financial Statements under Indirect Taxes

  • Category: Others
  • Date: 09-11-2021
  • Writers: CA Akshay M Hiregange, CA Madhukar N Hiregange

Reading of Financial Statements under Indirect Taxes

 

 

Contents

1.Introduction.

2.Utility of reading AFS correctly.

3.AFS Areas not having IDT Impact

4.Indicators from Balance Sheet (BS) with Notes

5.Indicators from Profit & Loss (PL) with Notes

6.Other Inferences & Areas outside AFS.

7.Conclusion.

 

 

Introduction

 

With the removal of CA/CMA mandatory external audits under GST and the beginning of GST departmental audits, it is...

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Issues in GST- Intermediaries & Export of service?

  • Category: Others
  • Date: 01-10-2021
  • Writers: CA Madhukar N Hiregange, CA Roopa Nayak

Background

The scope, coverage and taxability of intermediary services has been a subject matter of litigation since service tax regime. Under service tax law, there had been disputes about the applicability of service tax levy on commission agency services by Indian service providers to foreign principals. The argument was that all services were provided by way of marketing /sales promotion to end customers in India, consequently taxable in India. The issue was more or less settled over...

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Permitting the distribution or exhibition of films, recordings or programmes through licensing arrangements – proposed increase in rate to 18%

  • Category: Latest updates
  • Date: 28-09-2021
  • Writer: Shilpi Jain

Whenever any amendment is proposed at the GST Council Meetings, it has a history to it, which when understood makes the intention clearer. In this article we would be trying to understand the proposed increase in the rate of GST to 18% in relation to the licensing services to broadcast and show original films, sound recordings, radio and television programmes.

The Indian GST law has a lot of complications due to our federal structure, like requirement of identifying the State to which the...

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Specific compliances under GST- Real Estate Sector

  • Category: Others
  • Date: 28-09-2021
  • Writers: Lakshmi Sahithi, Monika Motta

Transition troubles for ‘Cesses’: Ray of Hope for claiming refund

  • Category: GST
  • Date: 20-09-2021
  • Writers: CA Ashish Chaudhary, CA Venkata Prasad


Everything Exporters need to know about RoDTEP - 50 important FAQs - Par II

  • Category: Customs & FTP
  • Date: 18-08-2021
  • Writers: CA Ashish Chaudhary, CA Ravi Kumar Somani
  1. How a user can claim the credit and generate the e-credit scrips on the online ICEGATE Portal?

Ans: Once the RoDTEP scroll is generated, the credits allowed will be available within their ICEGATE login of the exporter to claim and covert into a credit scrips. In case the exporters have not registered on ICEGATE already with their digital signatures, they may refer to this advisory (2_Advisory_Registration_APPROVED.pdf (icegate.gov.in)) and complete registration in order to avail...

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Everything Exporters need to know about RoDTEP - 50 important FAQs - Part 1

  • Category: Customs & FTP
  • Date: 18-08-2021
  • Writers: CA Ashish Chaudhary, CA Ravi Kumar Somani

Background:

Indian Exporters have been waiting for last 8 months for the announcement of the benefits under RoDTEP (Remission of Duties and Taxes on Exported Products) Scheme. Ministry of Commerce & Industry under Department of Commerce has finally come out with the Scheme Guidelines by issuing the Notification No. 19/2015-2020 dated 17th August 2021 providing for the contonur of the Scheme. It has also provided for the rate of benefit applicable on various products presently 8555 tariff...

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Legal Updates-July 2021

  • Category: Others
  • Date: 10-08-2021