Legal Entity Identifier (LEI) – Concept, Introduction, Benefits & Regulations

The Legal Entity Identifier (LEI) is a global reference number that uniquely identifies every legal entity or structure that is party to a financial transaction, in any jurisdiction. It is a 20-digit unique code to identify parties to transaction worldwide.... Read More →

Posted in Regulatory |

Gist of Hon’ble Gujarat High Court Judgment in the case of Cosmo Films Limited v. Union of India (SCA 15833/2018)

Section 16 of IGST Act provides for ‘Zero Rated Supply’ and sub-clause (b) of subsection (3) of Section 16 provides that, a registered person making zero rated supply shall be eligible to claim a refund if he has supplied the... Read More →

Posted in GST |

Gist of Notifications dated 15th October, 2020

The Central Government on the recommendation of GST Council have made several changes taking into consideration the special procedure to be followed by any Registered taxable person whose Turnover is of up to 1.5 crores rupees in the preceding or... Read More →

Posted in GST |

CBIC Clarification on Applicability of Rule 36 (4)

CBIC has issued clarification vide Circular No 142/12/2020 – GST dated 09.10.2020 in relation to the application of Rule 36(4) of the CGST Rules, 2017 for the months of February 2020 to August 2020. Where the government provided relaxation on... Read More →

Posted in GST |

Changes In Tax Audit Report Form 3CD, Form 3CEB And ITR (Assessment Year 2020-21)

CBDT vide Notification No. 82/2020 dated 01.10.2020 has notified certain changes in the Tax Audit Report Form No. 3CD, Form No. 3CEB and ITR-6. The Notification has also amended Rule 5 of the Income Tax Rules, 1962 and inserted two... Read More →

Posted in Audit & Assurance |