Subscribe
Category

Uncategorized

Home / Uncategorized
Webinars, Transactions, Uncategorized

Principle of Mutuality – “State of West Bengal & Ors vs Calcutta Club Limited [2019] SC (C.A. No. 4184 of 2009)”

Objectives & Agenda :
The principle of mutuality is based on the doctrine that no person can trade with himself or make income out of himself. In this Webinar we shall analyse the recent ‘landmark’ judgement by the Honourable Supreme Court in the case of ‘Calcutta Club Limited’ which upheld the principle of mutuality in the context of Sales Tax and Service Tax. The Apex court has upheld the applicability of the principle of mutuality in the Indirect Tax regime. We will analyse the principles held in the case and its possible impact on the GST Regime.

Uncategorized

EXEMPTION OF CENTRAL GOVERNMENT SUBSIDY OR GRANT OR CASH ASSISTANCE, ETC. TOWARDS CORPUS OF FUND

Under the existing provisions, subsidy or grant or cash incentive or duty drawback or waiver or concession or reimbursement provided by the Central Government or a State Government or any authority or body or agency in cash or kind to the assessee is taxable.

It is proposed to provide that subsidy or grant provided by the Central Government for the purpose of corpus of a trust or institution established by the Central Government or State Government shall not form part of total income and shall be exempt

The above amendment is to save trusts and institutions which are specially formed for operationalizing certain government scheme from levy of taxes

The amendment shall be applicable from assessment year 2017-18 and for subsequent years.

Categories

Subscribe here for our 

Monthly Newsletter

Follow us here : 

Privacy Settings
We use cookies to enhance your experience while using our website. If you are using our Services via a browser you can restrict, block or remove cookies through your web browser settings. We also use content and scripts from third parties that may use tracking technologies. You can selectively provide your consent below to allow such third party embeds. For complete information about the cookies we use, data we collect and how we process them, please check our Privacy Policy
Youtube
Consent to display content from Youtube
Vimeo
Consent to display content from Vimeo
Google Maps
Consent to display content from Google
Spotify
Consent to display content from Spotify
Sound Cloud
Consent to display content from Sound
SUBSCRIBE