Exports being inter-State supply, you would be required to obtain GST registration. The manufacturer would be supply- ing you the goods on the payment of IGST or CGST and SGST/ UTGST as applicable. What is the GST rate on export? The tax invoice for the procured goods should clearly stateRead More →
Once the CSR provisions become applicable to a company, they will continue to be applicable unless the company ceases to meet any of the above criteria for three consecutive years. Who is eligible for CSR fund? As per guidelines issued by MCA, From 1st April 2021, CSR Funding will beRead More →
When should TDS be deducted and by whom? Any person making specified payments mentioned under the Income Tax Act are required to deduct TDS at the time of making such specified payment. But no TDS has to deducted if the person making the payment is an individual or HUF whoseRead More →
TDS is deducted on the following types of payments: Salaries. Interest payments by banks. Commission payments. Rent payments. Consultation fees. Professional fees. When should TDS not be deducted? Any person making specified payments mentioned under the Income Tax Act are required to deduct TDS at the time of making suchRead More →
The Indian Evidence Act and the CPC,1908 don’t apply to the Arbitration proceedings. However, the general principles of the Evidence will apply, but a party under the Evidence statute cannot challenge the arbitral proceedings. Does Limitation Act apply to arbitration? Since the time-limit for making a claim arising out ofRead More →
Disbursements are not included in the VAT turnover calculation, so you must ensure they meet the conditions. … He was a heating engineer and plumber and he was very careful in calculating his turnover in order to not exceed the VAT registration threshold. Are disbursements outside the scope of VAT?Read More →
N/A N/A may refer to any of the following: N/A is short for not available or non applicable. The N/A abbreviation is used to fill in a blank portion of a form, chart, or another document. NA is also an acronym sometimes used for North American. Are abbreviations always capitalized?Read More →