Insights
Applicability of GST on reimbursement of electricity charges received by real estate companies, malls, airport operators etc. from their lessees/occupants.
Background Following the recommendations of the 52nd GST Council Meeting, the CBIC has provided clarification regarding the applicability of GST on reimbursement received from lessees
RECOMMENDATIONS MADE BY THE GST COUNCIL IN ITS 50TH MEETING HELD ON 11th JULY 2023
During its 50th meeting on July 11, 2023, the GST Council put forth several suggestions regarding GST compensation cess, the GST Appellate Tribunal, a specialized
E-invoicing mandatory for businesses with an annual aggregate turnover exceeding Rs. 5 crore
The Government of India has made e-invoicing mandatory for businesses with an annual aggregate turnover exceeding Rs. 5 crore from August 1, 2023. This was
Daily Back up Books of Accounts in an electronic mode on servers physically located in India
The Ministry of Corporate Affairs (MCA) has amended the Companies (Accounts) Fourth Amendment Rules, 2022. These amendments came into effect on August 11, 2022.• One
Keeping books of accounts in electronic mode with audit trail
Ministry of Corporate Affairs (MCA) has recently amended the Companies (Accounts) Rules, 2014 to strengthen the manner of keeping books of accounts in electronic mode.