How are Partners different from Designated Partners in LLP? The LLP Structure is mainly influenced by characteristics of General Partnership under Indian Partnership Act, 1932. Here, the normal partnership firm provides types of Partners based on their participation in day-to-day operations. However, as the Limited Liability Partnership derives the characteristic of corporate entity from Private […]
GST on supplies made to Merchant Exporter – Recent changes and it Impact “Merchant Exporter” means a person engaged in the trading activity and exporting or intending to export goods. Merchant exporters are instrumental to boost exports which contribute to the growth of Indian economy.
Reversal of ITC in case of goods lost by fire However, section 17(5) prescribes a list of goods or services on which ITC is not admissible or Reversal of ITC .The opening part of section 17(5) of CGST Act, 2017. The scope of the definition of inputs, capital goods, and input services is very wide […]
Gift Taxability Under Section 56 2(VII) GIFT In India for an individual and HUF Gift is a very common in Income tax term but to avoid the tax evader Government has made some provision related to this concept but subject to the below provision you can make tax planning accordingly.
GST data may be used to track income-tax evaders The government may be looking to use data obtained from Goods and Services Tax (GST) filings to track those who are escaping income-tax, two people close to the development said.