Experts said this will mean that companies, which have offices in multiple states, will have to raise Goods and Services Tax invoice for functions performed by employees in head office that has helped branches in other states.
Pushing people to litigation is a major source of tax uncertainty.
Come January and the government is empowered to send its recovery officials to your premises to collect GST without notice, if your tax liability shown in the requisite form is less than what invoices, mentioned in the outward supply form, should draw. The relevant provision in the Finance Act, 2021, will come into effect from January 1, 2022, according to a gazette notification issued on Tuesday. Under the GST system, there are two kinds of returns that a company is required to file monthly if its turnover is over Rs 5 crore annually. These are form GSTR-1 and GSTR-3B.
The 78-year-old Naveen is on the cusp of creating history. He must win the forthcoming Assembly polls to become India's longest-serving chief minister, a record held by Sikkim's Pawan Kumar Chamling.
A tax authority has ruled that Mauritius-based companies will have not have to pay capital gains tax in the country, a decision that will encourage global business entities to route investment from the island nation.
If only you had thought ahead, you would have stocked snacks and biscuits, bread and cake, and vegetables suited for Amma or pondatti to make your favourite bajji and pakoda, observes N Sathiya Moorthy.
West Bengal Chief Minister Mamata Banerjee on Thursday termed the cancellation of over 25,000 school jobs as 'gross injustice' and alleged that it was a ploy by the Bharatiya Janata Party to stop these job losers from being deployed in poll duty.
Reinterpreting long-established tax treaty provisions by the tax authorities creates confusion and has to be avoided as it affects investment into India.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The Securities Appellate Tribunal has suggested setting up of an Advance Ruling Authority in the capital market headed by a High Court Judge with its order binding on the Securities and Exchange Board of India.
GST rate for petrol and diesel cars and hybrid vehicles is already at the highest bracket of 28 per cent plus cess.
rediffGURU Sushil Sukhwani offers expert advice on about pursuing higher education abroad.
The world needs to wake up to this new dimension of war at sea and be prepared to face the 'unknown enemy' who have the advantage of attacking at their choice of location and time, cautions Commodore Venugopal Menon (retd).
Exclusion of SCs, STs and OBCs, who constitute a large segment of the population, from the reservation for economically weaker sections in admissions and government jobs violates the right to equal opportunity, the Supreme Court said on Monday in its minority verdict striking down the 103rd Constitution amendment.
Seeking full utilisation of the Indian airspace, civil aviation authorities are in the process of training pilots and ATC personnel and introducing advanced technology to gradually reduce air distnce between two aircraft from 50 nautical miles to 15.
For the Stalin government to win back the confidence of voters ahead of the Lok Sabha polls, post-flooding restoration works, their speed and efficacy would be closely watched, and not just by the political Opposition, notes N Sathiya Moorthy.
The ruling also pointed out that FBT would apply to liaison offices of foreign companies in India if the liaison offices had employees based in India. The Singapore-based tourism company had sought the authority's ruling whether it was liable to pay FBT on the benefits provided to the company's employees in the liaison offices in India.
Authority for Advance Ruling dispenses with complex forex indexation requirement.
Israel needs to come terms with the new reality that they are no longer invincible or the dominant power in the West Asian region, observes Ambassador M K Bhadrakumar.
Income earned by foreign technical consultants for providing monitoring services to Indian entities will be taxed at higher rate as business profits, the Authority for Advance Ruling has said. Referring to the contract between the Australian company and GAIL, the AAR said that monitoring activities undertaken by the foreign company was not within the scope of the DTAA between Australia and India. The Australian firm was acting as a project monitoring consultant.
'If we have to restrict and fight terrorism, first and foremost, we have to ensure communal harmony in the country.'
In a dramatic turn of events in May 2019, an Emirates aircraft en-route to Dubai was asked to stop while it was taxiing for a take off in Mumbai. The pilot was given no reason and ordered to immediately return to the parking bay. As the aircraft returned to the terminal, two passengers from the first class - Naresh Goyal and his wife Anita - were offloaded by the immigration authorities, who said the duo cannot leave the country. Goyal, founder of Jet Airways, was stunned. The man, who ruled the aviation sector for two and a half decades with an iron hand, did not expect to be offloaded in this fashion.
India's permanent mission in Geneva, in a tweet, said advancing a "misleading narrative" only "tarnishes" the reputation of the UN mission.
With investors asking for a change in the board structure at Byju's, the edtech giant's founder and chief executive officer (CEO), Byju Raveendran, is now asking them to put $300 million into the company for more control. The company has rung up $5.8 billion from investors such as General Atlantic, Sofina, the Qatar Investment Authority, Sumeru Ventures, Vitruvian Partners, BlackRock, Chan Zuckerberg Initiative, Sequoia, Silver Lake, Bond Capital, Tencent, and Tiger Global.
At a time when the BJP's stars are at the top on the eve of the Lok Sabha polls, the Puri-Joshimath Sankaracharyas may have kick-started a row whose efforts might be to divide Hindus, not in the name of castes, but on what passes for greater belief, observes N Sathiya Moorthy.
A bench headed by Justice S H Kapadia asked the company to challenge the ruling before an appropriate high court. The apex court also stayed both the AAR order and the assessment till the company moves a high court. On May 9, the AAR said that income of Foster's Australia Ltd from the transfer of its right, title and interest in trademarks and Foster's brand intellectual property is taxable in India.
An evening celebrating the best of what medicine has to offer.
The apex court asked what difference would it have made if the sitting was held as originally scheduled.
In a major development on taxation of FII income, the Authority on Advance Ruling has ruled that income will now be taxed as capital gains and not business income.
The All India Anna Dravida Munnetra Kazhagam headquarters in Chennai was sealed by authorities on Monday following violence and vandalism between supporters of rival leaders Edappady K Palaniswami (EPS) and O Panneerselvam (OPS) in and around the party office.
Bengaluru-based ID Fresh Foods had approached the Karnataka bench of the AAR on whether preparation of whole wheat parota and Malabar parota can be classified under Chapter 1905 attracting 5 per cent GST.
Would there have been an incomparable batsman named Sachin Tendulkar had Doordarshan not telecast Guide one summer afternoon? A fascinating excerpt from Abhishek Mukherjee and Joy Bhattacharjya's must-read book, The Great Indian Cricket Circus.
The Central Board of Direct Taxes on Friday directed tax officials to assess liability for those transacting in shares on the basis of principles laid down by the Authority of Advance Rulings (AAR).
The Supreme Court of India on Wednesday said the problem with electoral bonds scheme is that it provides for "selective anonymity" and "selective confidentiality" as the details are available with the State Bank of India (SBI) and can also be accessed by the law enforcement agencies.
The Supreme Court will hear the issue related to taxing of business processing outsourcing units of multinationals in the country on February 13.
'This incident offers ammunition to those inside the US government and elsewhere who question the wisdom of trusting India, so it will have a lasting consequence no matter how it is managed.'
According to government sources, frozen parota (layered flatbread) does not qualify as a staple item and is not eaten by the poor. It is consumed by a class that can afford to pay taxes, hence falls in the 18 per cent category with the likes of biscuits, pastries, and cakes.
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