Monthly communique_January 2022
Guidance Note on Schedule III – IND AS and Non IND AS
The Guidance notes issued by ICAI in the month of January 2022
CARO 2020 – Guidance Note
The Guidance note on CARO 2020 issued by ICAI in June 2020 has been attached.
Takeaways from 45th GST council meeting
The GST Council’s 45th meeting was held on 17th September 2021. Some key takeaways from the council meet is as follows GST rate changes for various goods and services; Decision with respect to bringing petroleum products under the gamut of GST is deferred to a later stage; Validity of GST exemption on transport of goods […]
Refund of ITC on input SERVICES under inverted duty structure denied_SC landmark judgment_VKC Footsteps
Aadhya Gold Private Limited_AAR
GST leviable only on difference between selling and purchase price of second hand jewellery: AAR Karnataka In the recent advance ruling issued by the Karnataka Advance Ruling Authorities in the case of M/s Aadhya Gold Private Limited, It was ruled that Margin scheme in terms of Rule 32(5) of the CGST Rules, 2017 is applicable […]
Note on Amendments to TDS /TCS Provisions Effective from 1st JULY 2021
The salient features of Section 194 Q, Section 206 AB, and Section 206 CCA inserted in the Finance Act 2021 which are effective from 1st July 2021 are as under: 1. 194Q – TDS to be deducted on purchase more than INR 50,00,000 Summary TDS should be deducted in case of purchases at the rate […]
