Important circular of RBI on Asset classification of advances after expiry of covid regulatory package
All about E-Invoicing In addition to the attachment herewith, it may ne noted that the GSTN has clarified as under:
Allowability of deduction under section 36(1)(vii) towards Bad debts written off if amount was debited by way of debit Note
ITC allowed in respect of supplies made as part of CSR activities as the same are not “gifts” under Section 17(5)(h)
Fee received from licensing a fully furnished hotel along with permission to run hotel is a business receipt
Assessee can’t escape from Sec. 271D penalty by depositing cash loan in bank a/c on same day; SLP dismissed
ITC allowed on supply of food & beverages from sweetmeats counter without any services to consume in premises
Threshold limit for TDS to be checked contract wise if assessee entered into separate contract with each transporter
Entire amount of duty paid by the manufacturer, as shown in the invoice would be available as credit even if the price is reduced subsequently by discount or otherwise.