Assentio Legal, founded by partners Thriyambak Kannan, Rohan Cherian and Renu Gopalakrishnan have joined Khaitan & Co with their team of associates and support staff at the company s offices in Chennai and Bengaluru.
The importers had warehoused the goods in free trade warehousing zones (FTWZs) even before the May 15 government notification on changing the category to “free.”
GST only on horse race commissions: Karnataka HC
SECTIONS
Share
Synopsis
Horse Racing clubs can pay goods and services tax on commissions instead of the full betting amount, the Karnataka High Court ruled on Friday, giving relief to these organisations that have long argued against the levy on the full amount.
Horse Racing clubs can pay goods and services tax on commissions instead of the full betting amount, the Karnataka High Court ruled on Friday, giving relief to these organisations that have long argued against the levy on the full amount.
“The petitioners are liable for payment of GST on the commission that they receive for the service that they render through the totalisator and not on the total amount collected in the totalisator,” Justice M Nagaprasanna said in the order. The petitioners in the case were the Bangalore Turf Club and the Mysore Race Club.
Go
Your browser has Javascript disabled, so some things may not quite work how they should on LI right now: please enable JavaScript in your browser to fix things, we have no nefarious trackers, or scripts by Facebook, Google or others.
In Brief
Monday, 17 May 2021 17:54 Corporate M&A
Flipkart co-founder Sachin Bansal has acquired a general insurance company and applied for a bank licence, as he takes rapid strides to build a diversified financial services business after leaving the online retailer in 2018.
Navi Technologies, owned by Sachin Bansal, acquired 100% of the share capital of DHFL General Insurance from Wadhawan Global Capital for a deal consideration of nearly INR 100 crores, while selling a minority stake to IFC to bid for a banking licence.
Synopsis
One company that had imported ‘re-melted lead ingots’ from China, instead, was delivered chalk power. But it was asked to cough up duties on the amount paid for importing ingots.
One company that had imported ‘re-melted lead ingots’ from China, instead, was delivered chalk power. But it was asked to cough up duties on the amount paid for importing ingots.
Many Indian companies procuring raw material from China have been instead delivered chemicals mixed with water, chalk powder and paper by their suppliers. To make matters worse, they are charged customs duty and IGST based on the actual invoice.