The Ministry of Corporate Affairs has vide its notification dated 19th March 2020 ameliorated the Companies (Meetings of Board and its Powers) Rules, 2014. The Rules are hereby called as Companies (Meetings of Board and its Powers) Amendment Rules, 2020.In addition to the existing amendment the Ministry of corporate affairs has again amended the Rule…
The small company concept was introduced by the government to provide various benefits to the people of India, the small company will not specifically be registered with a specific name but will be registered under a private company with a smaller amount of investment and turnover. In this blog, we will have an overview of…
Taxability on salary paid to ex-pat has always been a matter of dispute in service tax, as taxation authorities wanted to consider this transaction as supply and levy tax on the same. On the other hand, assesses did not want to discharge any tax liability on it as they believed the service provided to the…
Every taxpayer making payment of taxes to the Government on their purchases is knocked off while making the outward supply. A taxpayer must bear the tax liability on the value addition made by him, at each stage. But sometimes supply is made to some special persons for authorized operations only, which is considered as Zero-rated…
You have probably wondered the same thing as your competitors: Should you do in-house hire or recruitment process outsourcing (RPO)? But, before we get to that, let us discuss what exactly RPO is and how it works. Recruitment Process Outsourcing- it is a model by which an employer or a company transfers all or a…
The main objective of any economy is development and trade plays an important role in achieving the objective of development. Imports are potential weapons for the development of an economy therefore, lawmakers had placed their specific sight on Imports. Considering the significance of Imports, various provisions of GST have been drafted in a way that…
In the modern era, the role of IT and automation in almost every walk of life has become indisputably massive. The commercially oriented enterprises are always at the forefront of adopting new and sophisticated technologies to introduce just that innovation and cutting edge which will power it ahead of its competitors. It is pervasive, a…
Refund of ITC on Input Services Within GST, the term “Inverted Tax Structure” represents the situation when the GST rate paid on inward supplies (or purchases) is higher than the GST rate paid on outward supplies (or sales). According to section 54 of CGST, claiming a refund of any tax and interest paid may require…
Why Internal Audit of Logistic Area is Necessary? In Modern World, The Logistics area serves as the backbone of the companies and has a significant impact on the company’s business strategy which directly affects its operation and operational costs. Additionally, the performance of the Logistic area has a direct impact on a company’s ability to…
Procurement of services like an advocate, auditor, etc. by the head office on behalf of all entities is a common practice nowadays. Entities of a company in different states are considered as a distinct entity under GST, is well known to all, therefore GST charged on these types of services needs to be allocated to…
