Slump sale is an effective and maybe the quickest strategy to undertake business transfer with assets and liabilities. Slump sale is considered to be one of the most preferred ways of carrying out mergers & acquisitions deals. Compared to the other types of mergers/acquisition strategies, slum sale has the least complex yet well-defined tax implications […]
Introduction Section 43B of the Income-tax Act, 1961(the Act), allows certain statutory payments as deduction only on actual payment basis and further as per first proviso to Section 43B of the Act, if these payments are made on or before the due date of furnishing the return of income under Section 139(1) of the Act […]
The Central Board of Direct Taxes (CBDT) has issued a notification* that amends Rule 11UA of the Income-tax Rules, 1962 (the Rules). This notification outlines the valuation methods to be used for establishing the fair market value of investments in shares by resident and non-resident investors in closely held companies (CHCs) (like ‘start-ups’). This method will be […]
The Reverse Charge Mechanism (RCM) is a system of taxation where the liability to pay tax is shifted from the supplier of goods or services to the recipient of such goods or services. In a regular taxation system, the supplier is responsible for collecting and remitting the tax to the government. However, under RCM, the […]
Indian sectors, such as agriculture, industry, manufacturing or service, have been considerably impacted by the GST (Goods and Services Tax) reform. GST is one of the most significant tax reforms in Indian history. In this article, we discuss GST, its advantages, and the process of GST registration. The Indian government passed the Goods and Service Tax (GST) […]
As per the latest statistics made available by the Ministry of New and Renewable Energy (MNRE), India has a total installed renewable energy capacity of 103.05 Gigawatt as of 31st October 2021. Ministry themselves have set an ambitious target of expanding the capacity to 175-Gigawatt capacity by 2022. Prime Minister Narendra Modi has set the national […]
Goods and Services Tax GST applies to all service providers, retailers, wholesalers, and producers who are doing business in India. The registration of any business organization under the GST law is done under two categories as below: Normal scheme registration Composite Scheme registration In this blog, we will look at eligibility, benefits, disadvantages and compliances involved under […]
The efficient implementation of the indirect taxation law, known as GST, necessitates tough penalties for tax evaders. To encourage people to comply with the GST regime in India, the government has established three key strategies: interest, monetary penalties, recovery, and suspension of GSTIN. This blog discusses the penalties and prosecution when GST return is not […]
India has seen an unprecedented increase in e-commerce transactions, as has the rest of the world. So, its introduction of digital taxation at a time appears to be a step in the right direction. In this blog, we discuss e-commerce ecosystem and the necessary GST compliances. Let’s look at why there is a growing need […]
E-Invoicing under GST is an authentication mechanism just like the E-way Bill system. However, the mechanism is different, wherein it involves submitting already generated invoices on the common e-invoice platform before issuing the same to the customer. What is E-Invoicing under GST? It is a system in which Business to Business (B2B) invoices are authenticated digitally by GSTN. All the […]
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