Latest Blogs from SBS and Company LLP

    OBJECTIVES:

    • Definition
    • Job work Procedure u/s 143 of CGST Act, 2017.
    • Input tax credit as per Section 16 and 19 of the CGST Act, 2017.
    • Other clarifications relating to Job work as per Circular No. 38/12/2017 – Central Tax dated 26th of March 2018.
    Tags:

    Who is an assessee ?

    Extract of sec 2(7)(a)

    Assessee means a person by whom any tax or any other sum of money is payable under this Act, and includes

    • every person in respect of whom any proceeding under this Act has been taken for the assessment of HIS income or
    • of the Income of any other person in respect of which he is assessable
    • or of the loss sustained by him or by such other person or of the amount of refund due to him or to such other person
    Tags:

    Synopsis

    • Introduction and Applicability
    • Objective
    • Important Definitions
    • Prohibition to accept foreign contribution
    • Non-applicability
    • Registration
    • Grant of certificate, suspension, cancellation and renewal of certificate
    • Maintenance of accounts and Audit of accounts
    • Offences and Penalties
    • Miscellaneous Provisions
    • Reporting in various forms under the Act

     

    Introduction and Applicability

    Name of the Act:

    • This act may be called as “The Foreign Contribution (Regulation) Act, 2010.” It is often referred as “FCRA”.

    Applicability of the Act:

    It is applicable to whole of India and

    It shall also apply to

    • Citizen of India outside India and
    • Foreign associate branches or subsidiaries of companies or bodies corporate registered or incorporated in India.
    Tags:

    Subscribe SBS AND COMPANY LLP updates via Email!