Watch “Goods news for IT/ITES SEZ Developer & Units – SEZ Rules Amendment”, by CA Manoj Malpani, Director, Bizsolindia Services Pvt. Ltd.
Goods news for IT/ITES SEZ Developer & Units – SEZ Rules Amendment
Bizsol Thinkline
Article on ‘The Solo Progeny Policy and the Miracle Economy’ by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt Ltd (December 2023)
The Lessons and Legacies of the Chinese ‘One Child Policy’ Macro-economic policies state and substantiate the cardinal economic principle that population growth fuels economic growth. The reality of both India and China, however, was that explosive population growth resulted in unmanageable consequences in the late seventies. China had an autocratic ruling dispensation and India was …
From the Desk of Chairman (December 2023)
The favourite pastime post any cricket match for an average Indian is to dive deep into an in-depth analysis of the already concluded matches in the tournament. This year also after the recently concluded Cricket World Cup the self-styled cricket experts got sufficient vicarious opportunities to give vent to their bitter feelings of disappointments. The …
Article on ‘Show Cause Notice (SCN) Under GST’ by CA Abhishek Malpani, Bizsolindia Services Pvt Ltd (November 2023)
Currently lot of taxpayers has received Show Cause Notices for the financial year 2017-18 as due date of issuing SCN for FY 2017-18. Department is not even considering the submission made by the taxpayers before issuing SCNs. Due to this, many taxpayers are facing un-necessary hardship of replying to such baseless SCNs. Department can issue …
From the Desk of Chairman (November 2023)
The ongoing Israel – Hamas war was something that was waiting to happen. The first instinctive question that crops up is why this war and why now? There is nothing about the ongoing war that has not been analysed threadbare in the newspapers or on the TV screens. I do believe that no conflict is …
Article on ‘Impact of Remote Work on Organisational Culture’ by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt. Ltd.( November 2023)
CHALLENGES BEFORE THE HUMAN RESOURCE DEPARTMENT Even those who may have difficulty in defining organisational culture in precise terms with its varied hues and indeterminate characteristics, will have no hesitation in admitting to the fact that great organisations have been built over the years whether in India or elsewhere not just based on their performances, …
Article on ‘Conversion of DTA Unit to EOU with pending EPCG obligations – Issues and solutions’ by CA Manoj Malpani, Director, Bizsolindia Services Pvt. Ltd. (November 2023)
Background There are various schemes under the Foreign Trade Policy 2023 like Advance Authorisation (for raw material & components), EPCG (for capital goods), Export Oriented Unit (for raw material, components and capital goods). By availing these schemes read with corresponding exemption notifications issued by Ministry of Finance, the exporter ensures that the goods are exported …
Article on ‘Explainer: How JPMorgan’s Decision to Include Indian Government Bonds Affects India.’ by Adwait Venkitachalam, Director, Bizsolindia Financial Services Pvt Ltd. (October 2023)
JP Morgan Chase & CO, the US-based financial services behemoth, announced late September, 2023 that they had decided to include certain Indian Sovereign Bonds in its Global Bond Index – Emerging Markets (GBI-EM) Index starting 28th June 2024. This inclusion would commence in a staggered manner, with 1% incremental weightage considered for each consecutive month, …
Article on ‘How to handle ITC mismatch for the period prior 1st January 2022’ by Adv. Kiran Sawale, Sr. Advisor, Bizsolindia Services Pvt. Ltd.(October 2023)
Matching ITC with GSTR-2B has been made mandatory effective from 1st January 2022 by inserting clause (aa) in section 16(2) of CGST Act, 2017. Prior to this amendment, though GST Act has not made it mandatory but Rules,36(4) was inserted w.e.f. 09.10.2019 to match ITC with GSTR-2A, the said rule initially allowed to take ITC …
Article on ‘GST Changes applicable from 1st Oct 2023’ by CA Abhishek Malpani, Advisor, Bizsolindia Services Pvt Ltd (October 2023)
Section 10 CGST Act, 2013 Composition levy extended to suppliers of goods under ecommerce model: Benefit of composition scheme which was earlier not available to registered persons engaged in supplying goods through Ecommerce operator shall be extended to them. However, restriction will continue to apply for such registered persons who are engaged in supply of …
Article on ‘Reassessment of Income under Income Tax Act, 1961 – Sec 148A’ by CA Preeti Kulkarni, Director, Bizsolindia Services Pvt Ltd (October 2023)
Procedure for Reassessment of Income under Income Tax Act, 1961 has been provided under Sec 147 to 153, wherein Assessing Officer (AO) can reassess the Income which has escaped assessment done earlier. These provisions of reassessment has been revamped by Finance Act, 2021. Prior to 1.4.2021, u/s 147 of the Act, the power to assess …
Article on ‘Legends who Shaped the Economic Landscape of The World’ by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt. Ltd. (October 2023)
Adapted From the Book “What Would the Great Economists Do”? By Linda Yueh One of the most challenging questions that keeps haunting me all the time is one for which the answer is known but not a satisfactory one. With problems in the field of Economics plaguing countries around the world increasing as never …
From the Desk of Chairman (October 2023)
The recently released RBI data shows the household savings plummeting to the lowest level in fifty years triggering alarm bells. Indian households saw their financial assets which include bank savings, cash and investments shrink to 5.1% of the country’s GDP in fiscal 2023 down from 7.20% in the previous fiscal. The amount of money households …
Article on ‘All about GTA under GST’ by CA Abhishek Malpani, Advisor, Bizsolindia Services Pvt. Ltd. (October 2023)
There are important changes for RCM liability for GTA considering forward charge optionality to GTA. Kindly go through below changes carefully & do necessary changes in for GTA RCM working. Option to pay GST under forward charge for GTA services supplier was inserted by notification 03/2022 – Central tax (rate) dated 13.07.2022. Services of Goods …
Article on ‘GST Appellate Tribunal’ by Nidhi Nawal, Director, Bizsolindia Services Pvt. Ltd. (October 2023)
After a six-year period of anticipation, the establishment of the GST Appellate Tribunal is constituted. It promises the world of taxation, a more streamlined and robust resolution process for tax-related issues. The GST Appellate Tribunal in various states has been announced by Ministry of Finance, Department of Revenue vide Notification dated 14th September 2023 This …
Article on ‘All About “Electronic Credit Reversal and Reclaimed Statement” in GST – Do’s and Don’ts’ , by CMA Amit Devdhe, Sr. Advisor, Bizsolindia Services Pvt Ltd. (September 2023)
Over the period of time, the GST council is focusing on correct Input Tax credit by the taxpayers. Further, they want to control the credit availment of fake transaction in the overall chain. To enhance the compliance with regards to Input Tax Credit (ITC) utilization and the accurate reporting of ITC availment, ITC reversal, ITC …
Article on ‘GST on transactions between head office and branches under GST (Cross Charge)’ by CA Manoj Malpani, Director, Bizsolindia Services Pvt Ltd (September 2023)
The background The GST Act has merged taxability of goods and services under one act. Under GST, the taxable event is “supply of goods or services” from one taxable person to another taxable person. Section 7 of the CGST Act, 2017 defines the term “supply”. As per the definition of “Supply” amongst other things, “consideration” …
Article on ‘The Construct Of Basic Structure In The Indian Constitution’ by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt Ltd (September 2023
THE ORIGIN AND THE EVOLUTION In our growing up years whenever we had occasions to learn the elementary lessons in Civics, I used to wonder how a great nation like the UK could function and thrive without a written Constitution, especially the one that is known as the mother of all democracies. Today when we …
From the Desk of Chairman ( September 2023)
One of the disappointments that has been weighing down the Indian collective psyche was the failure of Chandrayaan 2 that crash landed on the moon on 6th September 2019. The country’s PM returning dejected from the space station with the scientific community in despair were not a remarkable sight. When Chandrayaan 3 landed on the …
