GST rate on electric vehicles to 5 per cent, from 12 per cent currently, along with an extension of the tenure of the anti-profiteering authority by a year till November 2020, an official said. The 35th meeting of the GST Council and the first under Finance Minister Nirmala…
Enforcement of the Insolvency and Bankruptcy Code, 2016 (the ‘Code’)amended many other statutes including Companies Act, 2013 (the ‘Act’) in terms of eleventh schedule of the Code (with effect from 01.12.2016) which inter alia dealt with the substituted Section 434 of the Act. Section 434 (c) of the…
Reserve Bank of India has issued Foreign Exchange Management (Borrowing and Lending) Regulations, 2018 (‘New Regulations’) on 17th December, 2018 in supersession of Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000 and Foreign Exchange Management (Borrowing and Lending in Rupees) Regulations, 2000 (collectively, ‘Erstwhile Regulations’)…
BACKGROUND: Acceptance of deposits being receipt of money by various entities is governed by regulatory authorities but such acceptances are also being made apart from the banking sector and it is difficult to regulate these large, diverse and complex non-banking sources leading to unauthorized use.Some of the examples…
NRIs wishing to sell their properties in India need to be aware of the taxation on the same. Let us have a look at the tax implications on the sale of property in India concerning the NRIs: Short-Term Capital Gains Tax A property owned by an NRI for…
Taxpayers have reported some issues in filing their Form GSTR 9C, which are clarified below: Turnover for filing Form GSTR- 9C: Form GSTR-9C is to be filed by all those taxpayers whose aggregate turnover has exceeded Rs 2 crore in a financial year. Turnover of complete year i.e.…