CAclubindia Articles
Govt changes FDI policy to bar Chinese investment in Covid times
As per the new amendment, FDI investments into Indian companies from the neighboring countries that share a land border with India will now require government nod. Also, transfer of ownership of any existing or future FDI in an entity in India, directly or indirectly, resulting in the beneficial ownership will also require Government approval
How to incorporate a company through SPICE+?
THE MCA recently notified the SPICE+ forms, SPICE+ is a web-based form. You can incorporate a company using SPICE+ web form by logging in to the Spice+ dashboard at www.mca.gov.in
Implications on ITC on account of non payment to supplier within 180 days
Amount towards the value of supply along with tax payable thereon is not paid to the supplier within 180 days from the date of issue of invoice, an amount equivalent to input tax credit availed shall be reversed in the manner prescribed under Rule 37 of the CGST Rules.
Transfer of under construction project do not attract GST: AAR
The AAR ruled that the hat the transfer of under-construction projects under the 'Business Transfer Project' is exempted under Goods Service Tax (GST).
EMI Moratorium Facility Will Increase Cost of Loan?
RBI announced 3 months EMI Moratorium on loans. However, deferring the payment of EMI will only lead to an increase in the cost of the loan.
How we can help to maintain the liquidity in banking system
The wheel of the economy has halted due to lockdown, therefore, there is no additional money that will flow in the economy, it will just change the hand. The baking system is also suffering. Here is how we can help maintain liquidity.
20% Formula for Input Credit - Is History repeating itself?
The Central Board of Indirect Taxes and Customs issued notification no 49/2019 dated 09-10-2019, amending the rules for claiming Input Tax Credit wherein the government has capped the ITC that a registered person can claim.
TDS on payments made to government/government agencies
As most of you are aware, from years this issue is bothering many vendors who are dealing with either the government or with governmental agencies. I researched...
Condition for claiming refund of unutilised Input Tax Credit(ITC)
The refund of accumulated ITC shall be restricted to the ITC as per those invoices, the details of which are uploaded by the supplier in FORM GSTR-1 and are reflected in the FORM GSTR-2A of the applicant.
CBIC clarification on GST refund matters and GSTR-7
CBIC issued a clarification on GST refund matters and GSTR-7. GST refund can be claimed either in GST RFD-01 or by issuing a credit note depending upon the circumstances.
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