CAclubindia Articles

Clarification related to GST Refund - ITC populated in GSTR 2A

Rohit Kumar Singh 11 June 2020 at 14:44

Circular ON GST Refund clarifies that the treatment of refund of such ITC relating to imports, ISD invoices and the inward supplies liable to RCM supplies will continue to be the same as it was before the issuance of Circular No. 135/05/2020

Clarification on levy of GST on Directors' Remuneration

Rohit Kumar Singh 11 June 2020 at 13:59

CBIC clarified that the remuneration paid to independent directors, or that director who are not employees of the said company, is taxable in hands of the company, on a reverse charge basis.

Equalisation Levy: Applicability, Features and Penalty

CA Rahul Mittal 11 June 2020 at 13:58

Equalisation Levy: Applicability, Features and Penalty

GSTR-9 and 9C- Aspects that need clarification

CA DHIRAJ DUGAR 11 June 2020 at 12:27

As we all know the due date for filing GST Annual Return and GSTR-9C is 30.09.2020. But still there is no clarification regarding the manner of presenting details in the respective returns.

Levy of GST on Director's Remuneration | Decoding CBIC Clarification

CS Lalit Rajput 11 June 2020 at 09:56

CBIC clarified that the remuneration paid to independent directors, or that director who are not employees of the said company, is taxable in hands of the company, on a reverse charge basis.

EMI Moratorium : Good or Bad?

NIKHIL Goel 11 June 2020 at 09:53

Moratorium period should be availed only if there is an acute financial crunch with an individual, else it would cost the person a lot more to compensate for a period of 6 months moratorium. Hence only 20% availed it.

Summary of the Sections restricting cash payment under the Income Tax Act, 1961

Arvind Tuli 11 June 2020 at 09:53

A brief Summary of the Sections restricting cash payment under the Income Tax Act, 1961.

What is Standard Deduction for Salaried Individuals?

Manzil Arora 10 June 2020 at 17:57

A standard deduction of flat INR 50,000 is available to the taxpayers. From FY 2020-21 the Standard Deduction can be claimed if the salaried individual does not opt for concessional Tax Rates in the New Tax Regime.

Decoding SEBI relaxations in FPO's norms due to Covid 19

CS Lalit Rajput 10 June 2020 at 16:02

Relaxations from certain provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 in respect of Further Public Offer (FPO's)