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Grab that GST with both hands and make a stash...
Tribe object by Kanishka on Oct. 01, 2017GST follows a principle... and earlier laws also followed a very similar principle... But GST has introduced a special mechanism... called as Reverse Charge Mechanism (RCM)... through its sections 9(3) and 9(4) of CGST Act 2016... to fill the GST leakage. This RCM... looks like second hand of GST maker ... collecting GST from both of its hands...
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GST on Lawyers
Tribe object by Yuvraj on Jul. 18, 2017The most famous, respected, sought-after and one of the most intelligent breed of professionals, the Lawyers hold a high position in society. Lawyers can be found in any field be it politics, corporate, social or any other. The role played by lawyers is indispensable and cannot be substituted by any other. Let us see what GST holds for these gentlemen.
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ITAT upheld AO's assessment in which assessee computed composite income u/r 8
Tribe object by Kanishka on Jun. 01, 2016Assessee company was in the tea business. It filed a revised return of income, and assessment was completed u/s 143(3), after making certain additions. CIT(A) found AO's order to be erroneous and restored the matter to AO. On appeal, the ITAT held that AO had made no error in accepting the tax return in which composite income was computed by the assessee in accordance with Rule 8. It restored the AO's assessment order u/s 143(3).-501417
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Electronic Commerce: Classes of E-com
Tribe object by Chiranjibi Chapagain on Feb. 26, 2018Generally speaking, when we think of e-commerce, we think of an online commercial transaction between a supplier and a client. However, and although this idea is right, we can be more specific and actually divide e-commerce into six major types, all with different characteristics.
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