Schedule II of the CGST Act talks about activities or transactions to be treated either as a supply of good or supply of service. There are some certain activities or transaction which led to confusion whether they are supply of goods or supply of service. The matters listed out in Schedule II are primarily those […]
Read More →Professional tax is a State tax which is levied by the State on account of the infrastructure it provided to the people so that one can carry out profession in that State. This form of tax was first levied in India in 1949 vide Article 276 of the Constitution of India which provides that “there […]
Read More →RBI has replaced the present email-based reporting system for submission of the FLA return by web-based system online reporting portal, to enhance the security-level in data submission and improve data quality. It facilitates data submission by eligible entities {including the alternative investment funds (AIF) registered with the Securities and Exchange Board of India (SEBI) as […]
Read More →The government has reduced the contribution under the Employees’ State Insurance (ESI) Act to 4% with effect from 1st July 2019 from 6.5%, a move expected to increase the take home salary of workers as well as reduce the financial burden of employers. The decision will benefit 36 million workers and 1.28 million employers. This […]
Read More →The Government of Gujarat vide notification no GHR/2019/26/BSE/192016/428889/M-3 has enacted the Gujarat Shops and Establishments (Regulation of Employment and Conditions of Service) Act,2019 thereby repealing the Gujarat Shops and Establishment Act,1948. The said enactment is effective from 1st May 2019. The Act also states that any rule or subsequent sub-rules created under the previous Gujarat […]
Read More →The Government of Haryana vide notification No. 12-HLA of 2019/16/3917 has introduced bill towards the Punjab Labour Welfare Fund (Haryana Amendment) Act, 2019. As per the bill each employee shall contribute to the Fund every month an amount equal to zero point two percent (0.2%) of his salary or wages or any remuneration subject to […]
Read More →Procedure, format and standards for issuance of certificate for tax deducted at source in Part B of Form No. 16 in accordance with the provisions of section 203 of the Income-tax Act, 1961 read with the Rule 31 of the Income-tax Rules, 1962 through TRACES- reg. (Form 16 Part B revised Notification 2019) The Central […]
Read More →Foreign Investment in India – Reporting in Single Master Form [RBI/2017-18/194 A. P. Dir. Series Circular No. 30 dated June 07, 2018] RBI has introduced an online reporting user interface, FIRMS (Foreign Investment Reporting and Management System) which would provide for the Single Master Form (SMF). FIRMS would be made online in two phases- In 1st phase, […]
Read More →“Let’s create a better tomorrow, let’s preserve nature-today” is the tag line of Pollution Control Boards in India and this is true in every sense. For every creature on the earth, the need of clean and unpolluted environment is like blood in body. Even after knowing this fact, we people are so irresponsible towards it; […]
Read More →Government of India announced demonetization with lot of expectations to curb black money but outcome of that was not satisfactory. Later Government realized that some companies were the reason behind weak result of demonetization. Last year Government decided to list out those companies and to take strict actions against those companies. For this Indian Government […]
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