The Government of Kerala under the aegis of the Honorable High Court of Kerala in the case of Messrs Eten Craft Holdings Private Limited (2017-VIL-576-KER) recently constituted the Authority for Advance Ruling. Further, the Kerala High Court taking note of the instructions of the Government also directed the concerned authority to accept manual filing of applications.
Concept of Advance Ruling
The concept of Advance Ruling was conceptualized by the Direct Taxes Enquiry Committee in 1971 headed by Justice K N Wanchoo. Though the system was ultimately implemented in 1993, the Authority for Advance Ruling (AAR) was instituted as a mechanism to prevent litigation, pre-empt or plan tax liability, and to foster at large a business-friendly environment where tax payers could approach the revenue authorities for ascertaining the proper legal position.
While the system of AAR was prevalent in the direct tax laws in the country, the said mechanism slowly started emerging in the indirect tax system in the country. The concept of AAR has now been grandfathered even in the GST regime, with its twists and turns.
Advance ruling in the GST regime
Bu hikaye UNIQUE TIMES dergisinin December 2017 - January 2018 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye UNIQUE TIMES dergisinin December 2017 - January 2018 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Come Fall in Love With Lisbon
With its cobblestone alleys, trams, centuries-old churches, hand-painted ceramic tiles, and buildings in pastel shades with quaint balconies, this city is sure to fascinate travellers who love the old-world charm.
Beauty Benefits of Beetroot for Skin and Hair
Ever wondered if the secret to radiant skin and fabulous hair could be as simple as adding a splash of colour to your beauty routine?
FROM COCOON TO BOOM!
Change compels individuals to confront their limitations and discover their potential, laying the foundation for transformation. Transformation, on the other hand, involves a deeper, more deliberate process of growth. It often begins with introspection and a conscious decision to evolve. This could mean overcoming negative behaviors, adopting new habits, or shifting one's mindset.
The Science of Sleep: Mysteries of Rest
Sleep is one of the most fundamental aspects of our health, yet it is often overlooked in the hustle of modern life.
Principle Of Res Judicata And Consistency In Tax Matters A Brief Analysis From An Indian Perspective
Certainty is a cornerstone of an effective tax system, forming a crucial pillar of the rule of law.
The Health Benefits Of Love-Making
The feeling of being in love can not only have an effect on our brain, but it can also lead to changes in human physiology and behavior. According to scientists from around the world, each stage of love for another human may be driven by the release of different hormones. This cocktail of hormones released during each phase (Three phases include lust, attraction, and attachment) can influence the way that we think and behave and can have a positive effect on our well-being.
RSS: Rewarding Senior Society
Recognising the importance of maintaining social connections and the need for occasional travel, the RSS initiative includes an annual free return ticket on airlines for senior citizens. The government will compensate 50% of the fare to the airlines, making air travel more accessible and affordable for our elderly.
Fixed Deposits and Income Tax: A Must-Read for NRIs
NRIs must inform their bankers about their residential status shifts and re-designate their bank accounts and deposits accordingly. Additionally, you must also anticipate the tax obligations that follow and carry out proper tax planning with the help of your Chartered Accountant to manage your taxes.
From Dreams to Dynasties: The Story of Veekay Group's Rise
To be a world-class leader in businesses that enrich lives and contribute to nations by building sustainable infrastructure, creating long-term value, and fostering innovation.
Empowering Beauty Beyond Borders: Miss Asia Global 2024
Beauty pageants and the world of fashion and modelling have evolved into platforms that celebrate not only physical appearance but also intelligence, personality, and talent.
