The Reserve Bank of India has permitted foreign investment in almost all sectors with a few exceptions. Thus, the increasing cross border transactions need a proper level of compliance mechanism to be in place.
We all had a passion to become CA, however, once we became a CA then we wanted a decent job, after getting a decent job, we wanted to start practice. However, are we actually stable about anything?
CBIC has issued Notification No.06/2021–Central Tax (Rate) to Notification No.12/2021–Central Tax (Rate) to amend the existing notifications which will be effective from 1st October 2021.
The adoption of any new technology needs a strategic plan. When we discuss any new technology, it encompasses hardware, software, systems, methods and standard procedures.
CBIC has issued Notification No's 06/2021 - Central Tax (Rate) to 12/2021 - Central Tax (Rate) to give effect to changes recommended in the rate of goods and services by the 45th Council Meet.
04 October 2021
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A minimum of 8 hour study should be practised considering the volume of portions to be covered. Set a realistic goal every day. Setting unrealistic goals will put down your confidence.
CBIC has further amended Notification No. 12/2017-Central Tax (Rate) dated June 28, 2017 ("Services exemption notification"), in order to adhere to the recommendations of the 45th GST Council Meeting.
Income taxes as per the Indian Accounting Standard 12 include both domestic and foreign taxes, which are based on taxable profits. It also includes withholding taxes.
Section 68 is a charging section, thus, if it is applicable, the assessee will not only be liable to pay the taxes but also penalty under section 271(1) (c) of the Income Tax Act, 1961.
If Statutory Audit is exempted then there will be no check on business transactions and such exemption will lead to an emergence of spurious companies within MSMCs.
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