Money as a medium of exchange helps us in acquiring different necessities to live a comfortable life. In a historical era, people used the barter system for purchasing things that they required but because of its inherent limitation of having people’s requirements coincide with each other to fructify the transaction, there comes the era of…
As we discussed in our previous blog about the validity of Rule 89, at last, we have discussed the Gujrat High Court Judgement Interpretation. Now, we are continuing our article with Madras High Court Judgement Interpretation. Madras High Court Judgement Interpretation: – After witnessing divergent judgments by different High Courts, such a case attracted the…
Under any law, the scope for litigation on certain provisions always exists. Some of the provisions requiring less clarity or arguments get settled at the lower court, however, certain provisions are unconstitutional or violative to the rights of the taxpayers which attracts the attention of the High Courts or in some cases, the Apex court…
What is Sexual Harassment? As an individual, we all knew the meaning of sexual harassment but according to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 the sexual harassment includes any one or more of the following unwelcoming acts or behaviours (whether direct or indirect) namely:- physical contact and advances;…
The ongoing pandemic has disrupted the businesses in India adversely wherein taxpayers are avidly expecting certain exemptions which could offer them the ease of doing business. On the flip side, one among the authorities of Advance Ruling (AAR) has ruled that GST liability must be discharged under reverse-charge mechanism on the amount of interest calculated…
On July 1, 2017, the nation embraced its extensive indirect tax reform. Since then, we see several changes mooted by GSTN (Goods and Service Tax Network) from time to time. Lately, a unique feature titled AATO (annual aggregate turnover) is incorporated on the GST portal to make it more user-friendly. This time saviour feature offers taxpayers to…
As per the provisions of GST Law, every registered person is eligible to claim ITC on purchase of goods or services or both which is used or intended to be used in the course or furtherance of business. However, as per the ambit of Section 17(5), ITC is blocked on certain transactions which include goods…
The primary focus of every economy has been on increasing the ease of doing business for its people. To achieve this, various relaxations have been given to businesses so that they can put their efforts and resources on their core profit-generating activities rather than getting trapped in the burden of compliances despite having a low…
Almost 4 years have elapsed since the introduction of GST Law in India in mid-2017. As the GST Law is in its nascent stages, interpretation of the law and its implementation has become a challenging task for the taxpayers. Not only taxpayers, but GST departments of several states are also facing such challenges. Nowadays, as…
From the inception of the F.Y. 2020-21, the Indian economy has suffered a downfall owing to the damage caused by the Corona pandemic. The majority of the sectors were hit hard due to the suspension of business activities for a longer duration, but the SME & MSME sectors were the worst hit by the pandemic…
