About this book This book contains detailed analysis of some of the key provisions of the Finance Act, 2021 with the objective of identifying various issues arising from the newly inserted provisions in the Income Tax Act, 1961. This book also captures the recent development in the world of international taxation. This includes UN tax developments and a very simple explanation of working of OECD Inclusive Frameworks Pillar One and Pillar Two blueprints, which are too complex and lengthy documents. From GST perspective, the book contains certain recommendations for rationalization of anti-profiteering provisions. The book also contains a Concept Paper on UN MLI presented by the author to the FACTI Panel and G77. The author has been pushing this idea at international forums for some time. Key Features Analysis of provisions related to: · Liable to tax · Slump sale · MAT · Taxation of ULIPS · Equalisation Levy · Amendment to SCRA · Section 89A · Concept of UN MLI · OECD Pillar One and Two Blueprint · India comments on OECD Commentary · Covid 19 and International Tax · Scope of option u/s 90(2) – Selective claim of treaty benefit · Scope of PE under the domestic law · UN Developments – Royalties, Indirect transfer and CIVs · Rationalisation of anti-profiteering provisions (GST law)
About the book This book contains detailed analysis of some of the key provisions of the Finance Acts passed during the year 2019 i.e. Finance Act, 2019 and Finance (No.2) Act, 2019. The book aims at identifying various direct and indirect tax issues arising from the newly inserted provisions in the Income Tax Act, 1961 as well as the Goods and Services Tax Act, 2017. The book also contains a detailed chapter on Secondary Adjustment. The key direct tax issues analysed in this book are related to sections 9(1)(viii), section 79, section 92CE, section 115UB, section 194N, section 194DA and provisions related to International Financial Services Center (IFSC) of the Income Tax Act, 1961. Additionally, the book also contains other articles written by the author on issues such as GAAR and Financial Instruments, proposed Rule 10 on attribution of profits and MLI. The key indirect tax issues analysed in this book are related to section 2(102), sections 7, section 22, section 171 and section 172 of the Central Goods and Services Tax Act, 2017. Key features Analysis of direct tax law Section 9(1)(viii), section 79, section 115UB, section 194N Taxation of life insurance policy and section 194DA Secondary adjustment IFSC related provisions GAAR and Financial Instruments Attribution of profits (proposed Rule 10) MLI operations Analysis of GST law Amendment to definition of “supply” Amendment to definition of “service” Anti-profiteering and concept of “amount profiteered” National Appellate Authority for Advance Ruling
Key features · Indian approach to tax digital economy · TDS on Platform sellers (section 194-O) · Equalisation Levy · Amendment to tax residency provisions · Significant Economic Presence (Explanation 2A) · Taxation of Advertisement and data (Explanation 3A) · APA/SHR framework for attribution of profits · Amendment to section 90 · Synthesised Text of tax treaties · Triangular cases
About the book The purpose of this book is to enable the taxable person to understand the applicability and impact of GST provisions with respect to the Real Estate Industry. The comprehensive and in-depth practical knowledge of the four authors would help in implementation of the provisions in an easy manner. This book is divided into eight parts as follows: Part 1 - Introduction and Overview Part 2 - GST impact analysis on real estate developers: Complex Developers, Joint development, contractors and other income. Part 3 - Detailed operational law containing classification, registration, tax credits, documentation, payments etc. Part 4 - Detailed procedural law containing assessment, audit, advance ruling, appeals, penalties, demands etc. Part 5 - Tax planning avenues, GST and RERA, Transitional provisions Part 6 - Disputes and department actions, [focussing on possible dispute area & resolution]. Part 7 - Role of Professionals from GST audit and tax planning perspective. Part 8 - Miscellaneous: 220+ FAQs and filled forms. Appendices containing FAQs released by CBIC and Important Notifications. Key Features Detailed and practical analysis of the GST provisions with case laws pertaining to the real estate industry. Covering all possible dispute areas along with their resolutions. Detailed analysis of the tax planning aspect. Covering extensive FAQs for removal of doubts. Blank as well as filled forms for better understanding. Detailed discussion on the role of professionals on how they can help in various GST matters. Visit http://bit.ly/GSTrealestate for Free online updates and important information.
After leading the world economy for a century, the United States faces the first real challenge to its supremacy in the rise of China. Is economic (or broader) conflict, well beyond the trade war that has already erupted, inevitable between the world’s two superpowers? Will their clash produce a new economic leadership vacuum akin to the 1930s when Great Britain abandoned its leadership role and a rising United States was unwilling to step in to save the global order? In this sweeping and authoritative analysis of the competition for global economic leadership between China and the United States, C. Fred Bergsten warns of the disastrous consequences of hostile confrontation between these two superpowers. He paints a frightening picture of a world economy adopting Chinese characteristics in which the United States, after Trump abdicated much of its role, engages in a self-defeating attempt to “decouple” from its rival. Drawing on more than 50 years of active participation as a policymaker and close observation as a scholar, Bergsten calls on China to exercise constructive global leadership and on the United States to reject a policy of containment, avoid a new Cold War and instead pursue “conditional competitive cooperation” to work with its allies and China to lead, rather than destroy, the world economy.
The purpose of this book is to enable the taxable person to understand the applicability and impact of GST provisions with respect to the Textile Industry. The comprehensive and in-depth practical knowledge of the three authors would help in the implementation of the provisions in an easy manner. This book is divided into eight parts as follows: Part 1 - Introduction and Overview Part 2 - GST impact analysis on relevant sectors: Manufacturers and Traders, Service Providers, Job workers and other supplies. Part 3 - Conceptual law containing classification, ITC, valuation, place of supply, reverse charge and transitional provisions. Part 4 - Procedural law containing registration, payment, returns, refunds, assessment, audit, advance ruling, appeals, penalties, demands etc. Part 5 – Import and export containing SEZ supplies and FTP incentives. Part 6 – Disputes mitigation and department actions, [focussing on prevention of possible disputes & their resolution]. Part 7 - Tax planning and professional services. Part 8 – Miscellaneous containing FAQs and filled forms.
The fifth edition of this book has been written with a perspective to enable the taxpayers to ensure compliance with the applicable provisions of GST related to filing of annual returns and self-certified Form GSTR-9C. The vast experience of the four authors totaling about one hundred years in consulting, adjudicating, judging and implementation of indirect taxes would immensely help the professionals implement GST provisions and conduct of audit in an easier way while providing value to their clients/employers. The book is divided into 6 parts as follows: Part 1 – Overview of GST law and insights on good accounting practices, record maintenance and documentation to facilitate returns filing, reconciliation and professional opportunities from the perspective of GST Audit. Part 2 – Background of the Annual returns, role of professionals and a detailed clause by clause analysis with Practical FAQ's for filing the Annual Returns in Form GSTR 9. Part 3 - Background of the GST Audit, role of professionals and a detailed clause by clause analysis with practical FAQ's for filing the Reconciliation statement in Form GSTR 9C. Part 4 – Checklists, formats, ICQ's, templates and practical methodology of conducting GST Audit [verification of documents/transactions after evaluation of internal control, reconciliations with tips to mitigate demand, common errors to avoid. Part 5 – Customs Audit, year-end action points for taxpayers, other GST certifications and Departmental Audit and some useful decisions. Part 6 - Appendices containing the gist of important notifications, guidance notes, standards, forms of audit under GST, and important templates for ready reference of professionals. KEY FEATURES Includes practical tables giving Step by Step approach with internal control questionnaires, checklists, templates, Good accounting practices, review program and reconciliation statements for: –Filing annual return with checklist and enabling formats –Audit certification Detailed analysis of reporting comments, remarks and qualifications in Part B of GSTR 9C along with exhaustive list of sample observations, remarks to be reported which would be relevant till FY 2019-20 Detailed discussion on various other key reconciliations including ITC, outward supplies, etc. Extensive list of common errors to be avoided in GST while doing preparation for audit. Coverage of key reconciliations viz., GSTR 2A to 3B, GSTR 1 to 3B, etc. Extensive discussion on professional approach to GST audit using the internal control questionnaire and sample audit program for enabling taxpayers in filing GSTR 9C form. Insights on key year-end activities & relationship between GSTR 1, GSTR 3B & GSTR 9. Covering important tools/techniques for optimization of tax, ITC, year-end actions, and some decisions in favour of taxpayers to avoid future disputes and adding value. Visit http://bit.ly/GSTAudit for updates and information.
About the book The book is a practical guide providing a pragmatic analysis of labelling and advertising aspects of the Legal Metrology Act, 2009 and the related laws. It covers the concepts as provided by the law coupled with the jurisprudence developed through the judgments of the Supreme Court as well as the High Courts under the present and erstwhile law relating to weights and measures. The book strives to act as a guide on the practical difficulties in application of the law and proactive measures which may be taken to ensure due compliances in terms of the Legal Metrology Law in India. The book will be of immense use for in-house counsels looking after regulatory compliances in a company, directors and the personnel looking after the sales and logistics of a business, e-commerce companies dealing in sale of packaged commodities, advocates and law students. Key features ? Analysis of structure and application of Legal Metrology Law on packages, advertisements and other modes of communication. ? Elaborate discussion on concepts of pre-packaged commodities, Industrial/institutional consumers, retail and wholesale packages, kits, multipurpose packages, transportation boxes etc. ? Covers disclosures to be made on different type of packages, time of declaration on imported and indigenous packages, format for printing of labels and practical difficulties faced at factory as well as dealership level. ? Understanding liability of company personnel, directors, e-commerce companies etc. on violation of the provisions of the Act. ? Guidance on general areas of focus of legal metrology authorities while making investigation/enquiry on business and litigation management thereafter. ? Conceptual guide aimed at a wide array of readers such as advocates, chartered accountants, in-house legal officers and law students. ? Ready reference table on common mistakes and best business practices along with sample labels. ? Contains upto-date relevant Acts and Rules related to labelling and advertising under Legal Metrology.
