by Sinewave Team | Feb 24, 2022 | GST
Refund application time limit changed: The refund claim of ITC on inward supplies can be made only within 2 years from the last day of the quarter in which supply was received. Earlier, it was 2 years from relevant date. Changes in Input Tax Credit provisions : No...
by Sinewave Team | Feb 18, 2022 | Taxation
Rationalization of provisions of TDS on sale of immovable property In order to remove inconsistency, it is proposed to amend section 194-IA of the Act to provide that in case of transfer of an immovable property (other than agricultural land), TDS is to be deducted at...
by Sinewave Team | Sep 13, 2021 | GST, SMEs, Taxation
In this part, we shall discuss the clause (b) and clause (c) of Section 7 of the CGST Act 2017 Section 7, (For the purpose of this section, supply includes………As per clause (b ) of Section 7 of the CGST Act 2017 , Import of services for a consideration whether or not...
by Sinewave Team | Sep 13, 2021 | GST, SMEs, Taxation
Under the Indirect taxes mechanism, the taxes are levied at every stage of value addition. This is applicable in case of supply of goods as well as services. Thus it is important to understand that tax and the value addition will be always coupled together. Value...
by Sinewave Team | Sep 13, 2021 | GST, SMEs, Taxation
The determination of taxability of transactions, involving multiple goods or services or a combination of goods and services has always been a challenging aspect under the indirect taxes. As far as the Pre-GST regime was concerned, the taxable events like”...
Recent Comments