Reading of Financial Statements under Indirect Taxes
With the removal of CA/CMA mandatory external audits under GST and the beginning of GST departmental audits, it is...Read more
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...Read more
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...Read more
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...Read more
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...Read more