News and Updates

  • Rule: 86B -Restriction on use of amount available in electronic credit ledger

    Rule: 86B -Restriction on use of amount available in electronic credit ledger This rule is having an overriding effect on any other rule of CGST Rules, 2017 and it is effective from 1st January 2021 wide Notification No: 94/2020 dated 22nd Dec 2020.   To whom it is applicable? This […]


    Pointers Introduction Financial Options versus Real Options Use of Real Options Factor affecting Real Options Valuation Types of Real Options Real Option Valuation [with example and analysis]   INTRODUCTION Traditional approaches of capital budgeting discounted cash flows is based on a set of static assumptions related to the project payoff […]


    SELF INVOICE UNDER GST [Reverse charge and self-invoicing mechanism under GST] Self-invoicing is to be done when you have purchased from an unregistered supplier and such purchase of goods or services falls under reverse charge. This is due to the fact that your supplier cannot issue a GST-compliant invoice, and […]

  • Tax Alert – Relaxation from compliance of Section 269SU to B2B Business- Circular No. 12/2020

    In view of the circular, it is hereby clarified that the provisions of section 269SU of the Act shall not the applicable to a specified person having only B2B transactions (i.e. no transaction with retail customer/consumer) if at least 95% of aggregate of all amounts received during the previous year, […]


    DIRECT-TAX MEASURES ANNOUNCED BY THE FINANCE MINISTER   List of announcements The Finance Minister has also announced several relief under the Income-tax Act, which are given below: a) The rates of TDS/TCSin respect of specified payments/receipts shall be reduced by 25%. This concession in the rate shall be available for […]



    CFO RESPONSE TO COVIDCFO RESPONSE TO COVID-19 Against the backdrop of declining economic activity and a sudden stop to cash flows caused by the COVID-19 pandemic, CFOs & senior finance leaders need quick, peer-vetted perspectives to ensure they are taking the right actions for their companies, employees, shareholders and themselves. […]

  • Tax Alert-CBDT relaxes ‘residency’ norms for individuals stranded in India owing to Covid-19 lockdown

    CBDT relaxes ‘residency’ norms for individuals stranded in India owing to Covid-19 lockdown   The status of an individual whether he is a resident or non-resident or not ordinarily resident, is dependent on the period for which the person is in India during the previous year & preceding previous years. […]

  • GST- Clarification- Special Procudure for RP/IRP in CIRP

    CLARIFICATION GST-SPECIAL PROCEDURES FOLLOWED BY IRP/ RP DURING CIRP [From the date of the appointment of the IRP/RP till the period they undergo the corporate insolvency resolution process]   No. Issue Clarification 1. Notification No. 11/2020 – Central Tax dated 21.03.2020, provided that an IRP / CIRP is required to […]

  • Treatment of Sales Promotion Schemes under GST

    Various representations have been received seeking clarification on issues raised with respect to tax treatment of sales promotion schemes under GST. To ensure uniformity in the implementation of the law across the field formations. the Board hereby clarifies the issues in succeeding paragraphs.   Free samples and gifts It is […]


    For small service providers & start ups, compliance in GST regime will be time consuming and cumbersome. Provisions to protect the interest of such small service providers are often found in the earlier taxing statutes.  For simplifying service providers Scheme of composition for service providers provided with effect from 01st April, 2019 […]


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