Browse Tag

Legal-Updates - Page 3

New Section 12AB: Re-Registration of Trusts / Institutions registered u/s 10(23C) / 12A / 12AA / 80G of Income Tax Act

May 8, 2021

[By Shaleen Shah (Partner), VNCA] All the existing charitable and religious institutions (including NGOs) which are registered or approved under section 12A, section 12AA, section 10(23C) & section 80G are compulsorily required to switch to section 12AB for fresh registration in order to continue availing exemption under section 10 or 11, as the case may be. The CBDT (Central Board

GST

GST e-Invoice mandatory from 1-1-2021 for turnover more than Rs 100 Cr

Goods and Services Tax (GST) e-invoicing is the most discussed topic for businesses today. E-invoicing is a system wherein invoices are registered electronically by the Invoice Registration Portal (IRP) for use on the common GST portal. As per the latest notifications, suppliers having an annual turnover above Rs 500 crore

QRMP scheme launched for GST payers with turnover up to Rs.5 crore

The government has launched the Quarterly Return filing & Monthly Payment of

Widening the scope of TCS (Tax Collection at Source) from 1st Oct 2020

[By Jyotish M Shah, Partner] Widening the scope of TCS (Tax Collection

GST Enrolment–Transition of existing tax payers to GST

November 8, 2016

GST·Gujarat VAT & CST·Service Tax & CBEC

[By Shaleen Shah (Partner), VNCA] The Government has started preparation for transition of existing tax payers to GST. All existing taxpayers registered under any of the following Acts will be transitioned to GST: 1) Central Excise 2) Service Tax 3) State Sales Tax or VAT 4) Entry Tax 5) Luxury

Gujarat VAT/Sales Tax Amnesty Scheme-2016

August 2, 2016

Gujarat VAT & CST

[By Shaleen Shah (Partner), VNCA] In the Gujarat State Budget for FY 2016-17, the State Finance Minister had announced that in view of the imminent implementation of the composite Goods & Services Tax (GST), it was necessary to resolve the problems relating to past outstanding tax dues under the VAT

Download Draft Model of GST Law

June 15, 2016

GST·Gujarat VAT & CST

Download Draft Model of GST Law

Equalisation Levy of 6% on e-commerce transactions applicable from 1-Jun-2016

June 6, 2016

Income Tax

[By Shaleen Shah (Partner), VNCA] We had informed you earlier that based on the recommendations a CBDT committee on taxation of e-commerce, Finance Minister Arun Jaitley had in his Budget proposed an Equalisation Levy of 6% to tap tax on income accruing to foreign e-commerce companies from India. Budget-2016 has

Service Tax Department cannot conduct audit under Rule 5A(2)–Delhi High Court

June 4, 2016

Service Tax & CBEC

[By Shaleen Shah (Partner), VNCA] It is a general practice of Service Tax Department to conduct audit of service tax assessees for last five years by deputing their own officers of the rank of Inspectors and Superintendents. Service Tax Department also seeks voluminous details and seeks information in self-specified format/annexures

Budget 2016 enacted on 14-May – Service Tax Amendments effective from various dates

May 17, 2016

Service Tax & CBEC

[By Shaleen Shah (Partner), VNCA] The Union Budget 2016 presented by Hon’ble Finance Minister, Shri Arun Jaitley was passed by both houses of the Parliament and received the Presidential assent and thus stands enacted on 14-May-2016. Service Tax Changes proposed in the Union Budget-2016 are coming into effect

Gujarat Budget 2016-17–VAT Amendments

April 13, 2016

Gujarat VAT & CST

[By Shaleen Shah (Partner) with Kirit Rana (Manager-VAT), VNCA] Gujarat Budget 2016-17 was passed by the State Assembly on 30-Mar-2016. The gist of VAT amendments enacted in the budget read with relevant notifications is as follows – INCREASE IN TAX RATES W.E.F. 1-APR-2016: 1. New Entry No.49C in Sch-II: Luxury

Amendment of Rules regarding quoting of PAN for specified transactions w.e.f. 1-Jan-2016

January 20, 2016

Income Tax

It is mandatory under Rule 114B of the Income Tax Rules to quote PAN where the transactions exceed a specified limit. To bring a balance between burden of compliance on legitimate transactions and the need to capture information relating to transactions of higher value, the Government has amended Rule 114B

CBDT Circular On TDS From Salaries During FY 2015-16

December 8, 2015

Income Tax

The CBDT has issued Circular No. 20/2015 dated 02-Dec-2015 in which it has explained the entire law relating to the obligation of employers to deduct income tax from the payment of “Salaries

Time reduced for filing Gujarat VAT Returns

November 16, 2015

Gujarat VAT & CST

The Gujarat VAT Rules stipulate a period of 30 days for e-filing of monthly / quarterly returns from the end of the relevant period. Since e-filing of returns was new at that point of time, the State Government had granted relief by giving additional time for filing E-Returns. Now through

Previous 1 2 3 4 5 … 12 Next

Legal-Updates - Page 3

New Section 12AB: Re-Registration of Trusts / Institutions registered u/s 10(23C) / 12A / 12AA / 80G of Income Tax Act

GST e-Invoice mandatory from 1-1-2021 for turnover more than Rs 100 Cr

QRMP scheme launched for GST payers with turnover up to Rs.5 crore

Widening the scope of TCS (Tax Collection at Source) from 1st Oct 2020

GST Enrolment–Transition of existing tax payers to GST

Gujarat VAT/Sales Tax Amnesty Scheme-2016

Download Draft Model of GST Law

Equalisation Levy of 6% on e-commerce transactions applicable from 1-Jun-2016

Service Tax Department cannot conduct audit under Rule 5A(2)–Delhi High Court

Budget 2016 enacted on 14-May – Service Tax Amendments effective from various dates

Gujarat Budget 2016-17–VAT Amendments

Amendment of Rules regarding quoting of PAN for specified transactions w.e.f. 1-Jan-2016

CBDT Circular On TDS From Salaries During FY 2015-16

Time reduced for filing Gujarat VAT Returns

Recent Posts

Categories