Sakshi Srivastava

Under Goods and Services, Tax Law works contract has been constrained to any work undertaken for Fixed and Immovable property. As per Section 6(a) of Schedule II of the CGST Act, works agreement shall be treated as “Supply.” Therefore, there is a clear differentiation of GST on works contract as a supply of service. In […]

The CBDT Circular No.14 date1955 has explained that the proceeds should not take benefit of the inexperience of the assessee and the A.O. should assist the tax for requesting of his legitimate allowance or disallow. As stated earlier, deduction under section 10B and 10A of the I.T. Act is pari-materia (not comparable). When claiming under […]

In the food business industry, the customer is the ruler. Consequently, there is no other option but to revolutionize and bring healthy replacements and nutrition food products. The food industry is developing to promote healthier lifestyles in our country. People also want to eat healthy as well as tasty food products. People instruct good eating […]

The CBIC  or Central Board of Indirect Taxes and Customs has issued notification No. 60/2020 – Central Tax dated 30th July 2020, that has notified the updated version of new format of e-invoice under GST. The relevant API release, along with validations are yet to be issued by the authority. Mandatory execution of e-invoicing Additional, […]

The Food Safety and Standards Act 2006 (FSSA)collaborate all the prevailing laws related to food and to start the Food Safety and Standards Authority of India for arranging down science-based morals for article of Food and to legalize their storage, manufacture, distribution, sale, and import, to ensure accessibility of safe as well as nutritious food […]

GST also is known as Goods and Services Tax, which is considered one of the most significant reforms that happened in India. Yet, one thing that is the discussion point is that the mechanism of input Tax credit under GST. In simple form, Input Tax Credit means at the time of paying tax on sales, […]

Tax Deducted at Source (TDS) is a mechanism introduced by the Income Tax Department of India. Under this, the answerable person is supposed to deduct a satisfied percent of tax before making the payment to the receiver. The DOs and Don’ts for TDS deposit and TDS statement filing are as follows- DOs for TDS deposit […]

Three years since the launch of the GST rule in 2017, the government for the first time has admitted that they have no money to pay the state government the share of GST incomes as was agreed by the GST law. Meanwhile in August 2019, before the lockdown due to the pandemic, the economic state […]

Due to the possibility of taxable supplies being broadened under GST, Exemptions under GST have clearly been defined by the law. They understand that the tax also involves knowing whether the item is exempted or not under the rules of GST. Not just expressing the Exemption list, but also understanding the suggestion of item being […]

The Central Board of Direct Taxes has prolonged the last date for filing Filing of ITR for Annual Year 2019-20 (the financial year 2018-19). The time has been extended from 31st July to 30th September 2020. In a tweet, Income Tax department said, “Because of the restraints due to the COVID pandemic and to further […]

While opening up a company, one has to choose which business organization they want to register and carry on. The choice of business organization is essential to give shape to your corporate motive. Here, if one has to select between the Private limited company registration or an LLP, one can see the advantages as well as the […]

Central Board of Indirect Taxes and Customs (CBIC) advised on Friday to clear all the pending GST registrations under a ‘special drive’ by 30th July 2020. The Panel has issued the circular in respect to clear the pending GST registrations to help in giving out of a strip of pending submissions for GST (Goods and […]

Tax Collected at Source (TCS) under GST states the tax collected by any e-commerce operative from the consideration established by it on behalf of the provider of goods or services who make materials through the operator’s online stage. TCS can be charged as a proportion of the net taxable supplies of goods. Who can be […]

Regulatory Structures all around the world have been mainly set up to achieve the objective of ensuring the safety of food and protection of consumer interests. Both these objectives require that regulators should analyze the data on various food safety and regulatory aspects throughout the chain of Food, including estimating dietary exposure for carrying out […]