Har Ghar Tiranga Campaign
To promote education related to culture is an eligible activity under Schedule VII of the Companies Act,2013 for CSR spending.
Applicability of E Invoicing
Advance Tax in India CBIC vide notification no. 17/2022- Central Tax dated 01st August 2022, extended the applicability of e invoicing for all the taxpayers having aggregate Annual Turnover of INR 10 Crore or more from FY 2017-18 onwards, applicable with effect from 01st October 2022. Complete circular attached
GST Rate Changes after 47th GST Council Meeting
GST Rate Changes after 47th GST Council Meeting..
Hotels/Restaurants cannot add service charge automatically or by default
The Consumer Affairs Ministry has issued a press release which stipulate that hotels or restaurants shall not add service charge automatically or by default in a food bill. No hotel or restaurant shall force a consumer to pay service charge & shall clearly inform the consumer that service charges is voluntary, optional & at the consumers discretion.
Newly Incorporated Section 194R (Income Tax Act 1961)
As per clause (iv) of section 28 of the Act, the value of any benefit or perquisite, whether convertible into money or not, arising from business or exercise of profession is to be charged as business income in the hands of the recipient of such benefit or perquisite.
Legal Entity Identifier (LEI) for Borrowers
All non-individual borrowers enjoying aggregate exposure of ₹5 crore and above from banks and financial institutions (FIs) shall be required to obtain LEI codes as per the timeline given below.
