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LATEST GST UPDATE

Non Reduction of Price of ‘Fly Ash Blocks’ Despite GST Rate Reduction was Profiteering: NAA
The National Anti-Profiteering Authority (NAA) held Litecon Industry to be guilty of not passing Goods and Service Tax (GST) benefits
Samsonite India Guilty of Profiteering – Not Reduced Suitcase Price Despite GST Rate Reduction
Firm accused of not reducing prices of its products after GST Council brought down the tax rate from 28% to
Mills federation seeks GST cut on sugar, molasses to boost liquidity
The National Federation of Cooperative Sugar Factories has requested the government to do away with the goods and services tax
GST on director salaries: Firms receive notices despite diverse AAR rulings
Even as authorities of advance rulings (AARs) differ on the liability to pay the GST on salaries paid by firms
Govt must lower GST rates and fuel prices to spur demand: Economist
The government must try and increase the GST threshold to Rs 5 crore and also work towards lowering the average
No GST applicable on HLA Testing Services performed in Laboratory outside India
The Karnataka Authority of Advance Ruling (AAR) ruled that the testing services performed by the laboratories outside India are exempted
Economic activities picking up? E-way bills on GST site double from April level
However, in March, which is otherwise the busiest month of the financial year, the average e-way bills generated dropped to
Govt loses this much GST revenue as corona virus eats up retail trade worth lakhs of crores of rupees
With India being under a lockdown for over a month now, the retail sector has reported massive losses, impacting the
No GST on Temple Prasadam,but GST applicable on tonsuring fees, vahana pooja
Authority for Advance Rulings (AAR) of Karnataka in its recent ruling mentioned that services for fees collection for tonsuring the

LATEST INCOME TAX UPDATE

List of Direct-tax measures announced by the Finance Minister
The Finance Minister, Smt. Nirmala Sitharaman has addressed a press conference on May 13, 2020 to share the details of
Clarification in respect of residency under section 6 of the Income-tax Act,1961
Residence in India. 6. For the purposes of this Act,— (1) An individual is said to be resident in India in
Trust for Ayodhya temple gets special I-T exemption
The exemption under Section 80G is not available to all religious trusts. A charitable or religious trust has to first
CBDT orders tax officials to not issue scrutiny notices to taxpayers
After rejecting “ill-conceived” suggestions by a group of Indian Revenue Services (IRS) officers, the Central Board of Direct Taxes (CBDT)
Earn more and save income tax under these post office saving schemes 
India Post, which runs the postal network in the country, offers nine types of saving schemes. Investment in some of
Everything about Tax Havens
Contents : 1. Whether tax haven mean that lower rate of tax? If not what are real attributes of tax
Income Tax Case Laws
Here  are   some   important   direct   tax   case   laws   which   were   passed   recently :  1.      Stay Application  : As the physical office of the ITAT is not functioning due to the lockdown, the stay petition
INTERNATIONAL TAXATION
Topics: Following Discussion in context to topic of the video will be answered: How to read section 4,5 & 9

COMPANY LAWS UPDATES

Filling of NFRA 2 for the FY 18-19 extended from  to June 26, 2020

Filling of NFRA 2 for the FY 18-19 extended from to June 26, 2020

MCA vide Circular dated April 30, 2020 extended last date of filling NFRA 2 for the financial year 2018-19 from...
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Clarification on passing of ordinary and special resolutions by companies under the Companies Act, 2013

Clarification on passing of ordinary and special resolutions by companies under the Companies Act, 2013

In continuation of the earlier Circular (General Circular Number 14/2020) issued by the Ministry of Corporate Affairs (MCA) on 8th April,...
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LATEST OTHER UPDATES

Lockdown 4.0: States freed to fix zones, make everyday life easier

Lockdown 4.0: States freed to fix zones, make everyday life easier

NEW DELHI: In the most significant easing of the national lockdown yet, the Centre gave states considerable leeway in reopening...
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Finance Minister measures for relief and credit support related to o businesses, especially MSMEs

Finance Minister measures for relief and credit support related to o businesses, especially MSMEs

Finance Minister announce measures for relief and credit support related to businesses, especially MSMEs to support Indian Economy’s fight against...
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Self-Reliant India Movement : Prime Minister’s Vision

Self-Reliant India Movement : Prime Minister’s Vision

Call for आत्मनिर्भर भारत or Self-Reliant India Movement • Five pillars of Atmanirbhar Bharat – Economy, Infrastructure, System, Vibrant Demography...
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Webinar on Art Of Leadership : Free

Webinar on Art Of Leadership : Free

Webinar on Árt Of Leadership By CA Tanushree Agrawal Date : 13 May Time : 04 PM NO CHARGE Click...
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ICAI Advisory for Bank Auditors while conducting Distance Audit / Remote Audit / Online Audit of Bank

ICAI Advisory for Bank Auditors while conducting Distance Audit / Remote Audit / Online Audit of Bank

Specific Considerations while conducting Distance Audit / Remote Audit / Online Audit of Bank Branch under current Covid-19 situation Dear...
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“Going Concern” – Key Considerations for Auditors amid COVID-19

“Going Concern” – Key Considerations for Auditors amid COVID-19

ICAI vide announcement dated May 10, 2020 issued Auditing Guidance on “Going Concern- Key Consideration for Auditors amid COVID-19”. Key...
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List of Trains proposed to be introduced as special trains

List of Trains proposed to be introduced as special trains

New Delhi: After weeks of suspension of passenger train services due to coronavirus lockdown, the Railways is set to resume limited...
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Workers refusing to rejoin factories may face action

Workers refusing to rejoin factories may face action

Efforts to bring back staff may include persuasion, pay cuts & disciplinary action. Gujarat, Madhya Pradesh and Uttar Pradesh have...
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