Donation, Gifts, Charities are without any consideration. Conditions in a grant stipulating merely proper usage of funds and furnishing of account would not be a supply involving consideration. However, if charity is obligated to provide something in return for example: display or advertise the name of the donor in a specified manner… Continue reading
In the case of State of Punjab & Ors vs. Nokia India Pvt. Ltd., 2014-TIOL-100-SV-VAT Supreme Court held that mobile phone charger is an ‘accessory to’ and not ‘a part of’ of mobile phone. Further it was held that charger cannot be said to be a composite part of mobile phone but… Continue reading
Dairy farming, poultry farming and stock breeding does not seem to be covered. The mere cutting of wood or grass, gathering of fruit and raising of man-made forest or rearing of seedlings or plants also does not seems to be covered by this.
As per section 4A of General clauses act, definitions can be applied if these are not defined in CGST Act, IGST Act, UTGST Act, SGST Acts, GST (Compensation to States) Act, 2017 unless it is repugnant to the subject or context to which it is to be applied.
Yes. CGST and IGST act were made applicable in J&K from 8th July, 2017 through respective ordinances. J&K GST Act was also passed and made applicable from this date (Act is on same lines as other State GST Acts).
What to do when you get such intimation: You are required to login to your account at ITD website and submit a response online explaining such difference within the stipulated time. In case timely response is not received, ITR will be processed without providing any further opportunities in this regard…. Continue reading
Now all details declared in your ITR w.r.t. Income (gross total income, taxable income, other income like interest income, etc.) / Deductions / TDS, are being matched with the details available in your Form 16 as well. If there is any variance in details given in ITR and Form 26AS… Continue reading
The new GST regime will comprise of the following taxes – Central Goods and Services Tax (CGST) – This tax will be levied on intra-state (within same state) supply of goods and services State Goods and Services Tax (SGST)- This tax will also be levied on intra-state (within… Continue reading
GST is payable by any person making taxable supplies of goods/ services and whose turnover [on a pan-India basis of all offices having the same Permanent Account Number (PAN)] exceeds INR 20 lakhs. However, where a person who is registered under GST receives goods or services from an unregistered vendor,… Continue reading