GST on Employee Services

GST is applicable on the transaction made for consideration. In many cases transactions become taxable even consideration is absent, which includes transaction made between ‘Related person’ Under the GST Employees and Employers are related person accordingly service given by employee to employer is taxable under the GST. However Schedule III of CGST act   provides that […]

Recommendations of the 33rd GST Council meeting

Real estate sector is one of the largest contributors to the national GDP and provides employment opportunity to large numbers of people. “Housing for All by 2022” envisions that every citizen would have a house and the urban areas would be free of slums. There are reports of slowdown in the sector and low off-take[…..]

One more Compliance for Private Limited Company

Now companies has to file its registered office details in Form INC-22A on or before 25.04.2019 to remain active in MCA records. The Form requires to attach photos of Internal office and External building showing therein atleast one director. There will be a penalty of Rs.10K if not file it on time. Don’t forget and[…..]

GST on Casual Taxable Person

1. Meaning of Casual Taxable Person: “Casual taxable person” means a person who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of business, whether as principal, agent or in any other capacity, in a State or a Union territory where he has no fixed place of business.[…..]

Are directors of company employees under the ESI act?

The Bench of Justices Abhay Manohar Sapre and Dinesh Maheshwari delivered this judgment while considering the question of whether or not Directors who receive remuneration from a Company fall within the definition of “employee” under the ESI Act. The company was covered under the ESI act and deposited regular contribution but they did not deposit contribution of remuneration paid[…..]

Government may relax you from Angel tax

On Monday a committee of 5 members has been set up by the government to look into the Angel Tax issue come up with guidelines in one week. Department of Industrial Policy and Promotion (DIPP) on 16th January 2019 issued a notification, which exempt the Startups from Angel tax. Few conditions were laid down in[…..]

Prohibition on Issue of Shares at Discount

Often Shares are issued at Premium. Sometime the situation arises where we decide to issue shares at discount. Discounted prices may be offered when company is not able to pay its debts and offering it share to its creditors. Company Act 2013 strictly prohibited the companies to issue shares at discounted price. It invites penalty[…..]