Goods and services tax (GST) has come into effect on 01st July 2017 with significant indirect tax reform in the country. GST has subsumed many indirect taxes in the country and made indirect taxes simpler than ever before. Since the day the GST has taken place many drastic changes have been incorporated into the GST …
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The casual taxable person is defined as a person who undertakes the transaction occasionally involving the supply of goods and services, like shops in the fairs and seasonal businesses are required to take GST registration. A casual taxable person should take GST registration prior to the commencement of business. The registration certificate is granted on …
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GST registration applies to all individuals, HUFs, companies and other taxable persons supplying taxable goods and services. GST registration is a process to get themselves registered under the GST act. If any individual is supplying goods or services, he needs to take the GST registration in Gurgaon. GST registration is not mandatory unless the supplier …
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The Indian income tax law determines the NRI status on the basis of the number of days an individual stays in India, not on the basis of citizenship in India. An individual gets confused when he comes to India for a few days and calculates his residential status. As per the Indian tax law, it …
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Determination of residential status is equally as important as the calculation of income tax liabilities. Even before the calculation of income tax an individual taxpayer has to first determine his residential status as per the income tax act 1961. Section 6 of the income tax act specifically deals with residential status. It prescribed the way …
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Facts of the case: Mais India Medical Devices Private Limited (MAIS India) was incorporated in the year 2012 under a joint venture agreement between M/s Sysmech Industries LLP, a resident of India and M/s Demas Company, a non-resident. MAIS India developed in-house all the Assembly Machines & Packing Machines used in the product manufacturing like …
Facts of the case The assessee is an NRI and he has deposited cash of Rs.1144000 in his bank account. He has been a resident of Auckland, New Zealand since 2003. There was a mismatch in the time of deposit of cash in the bank account. The assessing officer has the doubt the cash was …
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