Reading of Financial Statements under Indirect Taxes
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.
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