Section 112 of the Finance Act 2021 shall come into force on 1st June 2021. This section seeks to amend Section 50 of the CGST Act, 2017 which relates to Interest on Delayed Payment of GST.
A Welcome Circular that amends the conditions of use of amount available in the electronic credit ledger as per Rule 86A of the Central Goods and Services Tax (CGST) Rules, 2017.
Pursuant to the GST Council recommendations in their 43rd meeting, CBIC has issued a series of notifications relaxing the GST compliance requirements. Same has been summarised here.
All term insurance plans cover death benefits, but it depends on how the insured dies. There are a few major types of death that are not covered under term plans.
ICAI has issued a revised Code of Ethics 2019 which is applicable from 1st April 2020. The purpose of the Code is to promote an ethical culture in auditing.
If you’re an accounting professional looking to fast-track your career, or you want to prove to employers that you have the leadership skills required to steer your team, CPA (Aust.) is the designation you need, believes Navita Goel CPA (Aust.)
The GST law does not clarify ‘Where’ i.e. in which State/U.T GST Registration is required. This lack of clarity has upreared countless doubts, one of which is clarified in this article i.e. Do Warehouses need to be registered under GST?
Employees are encouraged to travel anywhere in India along with their families and to help the employee the travel expenses are given by the employer which is exempt u/s 10(5).
With effect from July 1, 2021, a person will have to pay TDS/TCS at a higher TDS/TCS rate if he/she has not filed Income Tax Returns for the last two years and has aggregate TDS/TCS credit of Rs. 50,000 or more in each of the two years.
Section 206C(1H)/194Q states that sellers/buyers must collect TCS/TDS for the sale of any goods of the value or aggregate of such value exceeding INR 50 lakhs in any PY from the buyer/seller.
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