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REVERSE CHARGE MECHANISM
Rules in the works to enable G-Sec, repo deals by insurersInsurers will soon be able to undertake repo and government securities lending transactions. The insurance regulator is developing an opera...- Asset which sits in the balance sheet for years without moving, then suddenly wipes out all profit in a single quarterThe most dangerous number on a balance sheet is not always the one that looks wrong. It is often the one that depends heavily on management...
- The Colosseum was more than a gladiator arena: its underground system powered one of Rome’s greatest spectaclesThe Colosseum was more than just a gladiator arena. Its hidden underground system, the hypogeum, was a marvel of Roman engineering. This co...
- Xi's military purge deepens as China hands former defence ministers suspended death sentencesAccording to Phayul, Chinese military courts found both officials guilty of accepting massive bribes and misusing their authority while ser...
- Carlyle acquires Knack RCM and Equalize RCM to create an AI-native, global multi-specialty healthcare RCM platformGlobal investment firm Carlyle has acquired a majority stake in US healthcare revenue cycle management providers Knack RCM and EqualizeRCM....
- EEPC India proposes faceless GST audit to empower MSME sectorEEPC India recommends the government to introduce faceless GST audits to help MSMEs reduce compliance costs and concentrate on growth. They...
- Government exempts IGST on ocean freight from October 1KPMG Indirect Tax Head & Partner Abhishek Jain said the amendments proposed are aligned with the apex court's ruling in the case of Mohit M...
- Government gives time till May 31 for Goods Transport Agencies to opt for GST paymentGoods Transport Agencies (GTA) in India have until May 31 to exercise the option of paying Goods and Services Tax (GST) on a forward charge...
- Only GST-registered tenants face rent taxThe new norms stipulate that from July 18, when an 'unregistered person' (for example, a salaried individual or small businessperson) gives...
- Interest for delayed payment on imported goods liable to GST: AARAAR observed that the holding company had “tolerated the act” of receiving payment after a lapse of a period of 120 days from the date of t...
- 11% startups thinking about moving abroad, says LocalCircles surveyThe survey, conducted by community platform LocalCircles in which over 4,400 entrepreneurs participated, found that 11% of respondents were...
- GST: Centre defers reverse charge mechanism till September 30The mechanism, an anti-tax-evasion measure to ensure transactions by unregistered people don’t escape tax, was to kick in from July 1 this ...
- GST provisions on TDS/TCS, reverse charge mechanism deferred by 3 monthsThe GST Council had suspended the provision for deduction of TDS and collection of TCS, as well as implementation of reverse charge mechani...
- FinMin clarifies on return filing by businesses opting for composition schemeThe ministry, in a statement said, doubts are being raised about the manner of filing the quarterly return by composition dealers in Form G...
- After e-way bill, government eyes tools to check GST evasionFinance ministry says intra-state movement of goods in five states will require the electronic tool from April 15 as part of the planned ex...
- Government collects only Rs 335 cr under GST Composition scheme in one quarter"A total of 8.10 lakh returns were filed by Composition Dealers paying a total of Rs. 335.86 crores as GST," said Ministry of Finance in a ...
- GST composition scheme may come under reverse charge mechanism to curb evasionUnder the reverse charge mechanism, a person receiving goods or services collects the GST levied and deposits the tax with the government.
- Government banks on 2 tools to crack whip on GST evaders“We are slowly tightening the noose and these two steps alone will help us increase our collections by around 25%,” said a senior governmen...
- Sale of old gold jewellery will not attract GST on exchangeHowever, if an unregistered supplier of gold ornaments sells it to registered supplier, the tax will apply under reverse charge mechanism.
- Service tax on government services: What it means for youThe point in time when a service shall be deemed to have been provided is determined based on Point of Taxation Rules, 2011.
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